Innospec (NASDAQ:IOSP) Upgraded at StockNews.com

StockNews.com upgraded shares of Innospec (NASDAQ:IOSP) from a buy rating to a strong-buy rating in a research report sent to investors on Tuesday.

Innospec Trading Down 0.8 %

NASDAQ:IOSP opened at $115.74 on Tuesday. Innospec has a 12 month low of $103.97 and a 12 month high of $133.71. The stock has a market capitalization of $2.89 billion, a price-to-earnings ratio of 20.20 and a beta of 1.09. The firm has a fifty day simple moving average of $115.45 and a two-hundred day simple moving average of $117.62.

Innospec (NASDAQ:IOSP) last issued its earnings results on Tuesday, November 5th. The specialty chemicals company reported $1.35 EPS for the quarter, meeting the consensus estimate of $1.35. The company had revenue of $443.40 million during the quarter, compared to the consensus estimate of $442.13 million. Innospec had a return on equity of 13.33% and a net margin of 7.68%. The firm’s revenue for the quarter was down 4.5% compared to the same quarter last year. During the same period last year, the business posted $1.59 EPS. Equities analysts predict that Innospec will post 5.88 earnings per share for the current fiscal year.

Innospec Increases Dividend

The firm also recently declared a Semi-Annual dividend, which was paid on Tuesday, November 26th. Investors of record on Monday, November 18th were given a $0.79 dividend. The ex-dividend date was Monday, November 18th. This represents a yield of 1.3%. This is an increase from Innospec’s previous Semi-Annual dividend of $0.72. Innospec’s dividend payout ratio (DPR) is presently 27.57%.

Insiders Place Their Bets

In other Innospec news, Director Milton C. Blackmore sold 1,035 shares of Innospec stock in a transaction dated Wednesday, November 13th. The stock was sold at an average price of $122.92, for a total transaction of $127,222.20. Following the completion of the transaction, the director now owns 9,028 shares in the company, valued at approximately $1,109,721.76. The trade was a 10.29 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 1.52% of the company’s stock.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of IOSP. CWM LLC raised its position in Innospec by 239.6% in the 2nd quarter. CWM LLC now owns 635 shares of the specialty chemicals company’s stock valued at $78,000 after buying an additional 448 shares during the last quarter. Blue Trust Inc. raised its holdings in shares of Innospec by 503.9% in the third quarter. Blue Trust Inc. now owns 779 shares of the specialty chemicals company’s stock valued at $96,000 after purchasing an additional 650 shares during the last quarter. nVerses Capital LLC lifted its position in shares of Innospec by 200.0% during the third quarter. nVerses Capital LLC now owns 900 shares of the specialty chemicals company’s stock valued at $102,000 after purchasing an additional 600 shares in the last quarter. Point72 DIFC Ltd purchased a new position in Innospec during the second quarter worth about $184,000. Finally, Point72 Asset Management L.P. bought a new stake in Innospec in the 3rd quarter worth about $215,000. Institutional investors own 96.64% of the company’s stock.

About Innospec

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.