Key Points
- Leslie Parrette, a director at Innospec (NASDAQ:IOSP), bought 340 shares on November 14 at an average price of $74.09 (~$25,190), raising her ownership to 5,837 shares (a 6.19% increase) as disclosed in an SEC filing.
- Innospec declared a $0.87 dividend payable on November 26 to shareholders of record on November 18, with an ex-dividend date of November 18.
- The company reported quarterly EPS of $1.12, beating the $1.03 consensus while revenue of $441.9M slightly missed estimates; the stock trades within a 52-week range of $71.06–$122.19 and has a market cap of about $1.79 billion.
Innospec Inc. (NASDAQ:IOSP - Get Free Report) Director Leslie Parrette acquired 340 shares of the stock in a transaction on Friday, November 14th. The shares were purchased at an average price of $74.09 per share, with a total value of $25,190.60. Following the completion of the transaction, the director owned 5,837 shares of the company's stock, valued at approximately $432,463.33. This represents a 6.19% increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is available through this link.
Innospec Stock Performance
Shares of IOSP stock opened at $72.23 on Tuesday. Innospec Inc. has a fifty-two week low of $71.06 and a fifty-two week high of $122.19. The stock's fifty day moving average price is $76.80 and its two-hundred day moving average price is $82.58. The company has a market cap of $1.79 billion, a PE ratio of 92.60 and a beta of 1.06.
Innospec (NASDAQ:IOSP - Get Free Report) last posted its quarterly earnings results on Wednesday, November 5th. The specialty chemicals company reported $1.12 EPS for the quarter, topping analysts' consensus estimates of $1.03 by $0.09. The company had revenue of $441.90 million during the quarter, compared to analysts' expectations of $443.00 million. Innospec had a return on equity of 10.89% and a net margin of 1.08%.Innospec's revenue was down .3% on a year-over-year basis. During the same quarter in the previous year, the firm earned $1.35 EPS. On average, equities analysts predict that Innospec Inc. will post 6.18 EPS for the current fiscal year.
Innospec Announces Dividend
The business also recently declared a dividend, which will be paid on Wednesday, November 26th. Stockholders of record on Tuesday, November 18th will be paid a $0.87 dividend. This represents a dividend yield of 241.0%. The ex-dividend date is Tuesday, November 18th. Innospec's dividend payout ratio (DPR) is presently -5,800.00%.
Institutional Trading of Innospec
Several institutional investors have recently added to or reduced their stakes in the stock. NewEdge Advisors LLC raised its holdings in Innospec by 19.1% during the 3rd quarter. NewEdge Advisors LLC now owns 5,363 shares of the specialty chemicals company's stock worth $414,000 after purchasing an additional 860 shares during the last quarter. CANADA LIFE ASSURANCE Co increased its position in shares of Innospec by 1.2% during the third quarter. CANADA LIFE ASSURANCE Co now owns 29,631 shares of the specialty chemicals company's stock worth $2,282,000 after buying an additional 363 shares during the period. PDT Partners LLC raised its stake in Innospec by 218.9% during the third quarter. PDT Partners LLC now owns 42,876 shares of the specialty chemicals company's stock worth $3,308,000 after buying an additional 29,433 shares during the last quarter. Dark Forest Capital Management LP lifted its holdings in Innospec by 15.8% in the third quarter. Dark Forest Capital Management LP now owns 33,798 shares of the specialty chemicals company's stock valued at $2,608,000 after buying an additional 4,601 shares during the period. Finally, Verition Fund Management LLC boosted its position in Innospec by 30.3% during the third quarter. Verition Fund Management LLC now owns 42,515 shares of the specialty chemicals company's stock valued at $3,280,000 after acquiring an additional 9,897 shares during the last quarter. 96.64% of the stock is currently owned by institutional investors.
Analysts Set New Price Targets
IOSP has been the subject of a number of research analyst reports. Weiss Ratings cut shares of Innospec from a "hold (c-)" rating to a "sell (d+)" rating in a research report on Saturday, October 25th. Zacks Research cut shares of Innospec from a "hold" rating to a "strong sell" rating in a research note on Tuesday, November 4th. Finally, Wall Street Zen cut Innospec from a "buy" rating to a "hold" rating in a research note on Sunday, October 19th. One investment analyst has rated the stock with a Strong Buy rating and two have issued a Sell rating to the company. According to data from MarketBeat.com, Innospec presently has an average rating of "Hold".
Check Out Our Latest Research Report on IOSP
About Innospec
(
Get Free Report)
Innospec Inc develops, manufactures, blends, markets, and supplies specialty chemicals in the United States, rest of North America, the United Kingdom, rest of Europe, and internationally. The company's Fuel Specialties segment offers a range of specialty chemical products that are used as additives in additives in diesel, jet, marine, fuel oil and other fuels.
See Also
This instant news alert was generated by narrative science technology and financial data from InsiderTrades.com in order to provide readers with the fastest and most accurate reporting. Please send any questions or comments about this story to [email protected].
