Innospec Inc. (NASDAQ:IOSP) VP Ian Malcolm Mcrobbie sold 20,614 shares of the firm’s stock in a transaction on Tuesday, November 22nd. The shares were sold at an average price of $66.27, for a total value of $1,366,089.78. Following the sale, the vice president now directly owns 42,543 shares of the company’s stock, valued at approximately $2,819,324.61. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink.
Innospec Inc. (NASDAQ:IOSP) opened at 66.85 on Friday. The company has a 50-day moving average price of $61.02 and a 200-day moving average price of $54.98. Innospec Inc. has a 1-year low of $41.61 and a 1-year high of $67.25. The firm has a market cap of $1.60 billion, a P/E ratio of 18.01 and a beta of 1.32.
Innospec (NASDAQ:IOSP) last announced its quarterly earnings results on Wednesday, November 2nd. The company reported $0.78 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.77 by $0.01. Innospec had a return on equity of 15.53% and a net margin of 10.17%. The business earned $205.50 million during the quarter, compared to the consensus estimate of $232.15 million. During the same quarter in the prior year, the company posted $1.45 earnings per share. Innospec’s revenue was down 19.2% compared to the same quarter last year. On average, equities research analysts forecast that Innospec Inc. will post $3.72 EPS for the current fiscal year.
The business also recently declared a semiannual dividend, which was paid on Thursday, November 24th. Investors of record on Tuesday, November 15th were issued a dividend of $0.34 per share. The ex-dividend date was Thursday, November 10th. This represents a yield of 1.23%. This is an increase from Innospec’s previous semiannual dividend of $0.33. Innospec’s dividend payout ratio is 18.38%.
A number of large investors have recently made changes to their positions in the company. Loews Corp increased its stake in shares of Innospec by 14.9% in the second quarter. Loews Corp now owns 5,392 shares of the company’s stock valued at $248,000 after buying an additional 700 shares during the period. Swiss National Bank increased its stake in shares of Innospec by 1.3% in the second quarter. Swiss National Bank now owns 39,903 shares of the company’s stock valued at $1,835,000 after buying an additional 500 shares during the period. Teacher Retirement System of Texas increased its stake in shares of Innospec by 13.8% in the second quarter. Teacher Retirement System of Texas now owns 3,385 shares of the company’s stock valued at $156,000 after buying an additional 411 shares during the period. BNP Paribas Arbitrage SA increased its stake in shares of Innospec by 104.9% in the second quarter. BNP Paribas Arbitrage SA now owns 7,791 shares of the company’s stock valued at $358,000 after buying an additional 3,988 shares during the period. Finally, GSA Capital Partners LLP increased its stake in shares of Innospec by 206.2% in the second quarter. GSA Capital Partners LLP now owns 24,524 shares of the company’s stock valued at $1,128,000 after buying an additional 16,516 shares during the period. Institutional investors and hedge funds own 88.40% of the company’s stock.
A number of equities research analysts have recently weighed in on IOSP shares. Zacks Investment Research raised Innospec from a “sell” rating to a “hold” rating in a report on Monday. CJS Securities raised Innospec from a “market perform” rating to an “outperform” rating and set a $63.00 target price for the company in a report on Friday, August 5th. Finally, Monness Crespi & Hardt raised Innospec from a “neutral” rating to a “buy” rating and set a $60.00 target price for the company in a report on Thursday, August 4th.
Innospec Inc develops, manufactures, blends, markets and supplies fuel additives, oilfield chemicals, personal care and fragrance ingredients and other specialty chemicals. The Company operates in three segments: Fuel Specialties, Performance Chemicals and Octane Additives. The Company’s products are sold to oil and gas exploration and production companies, oil refineries, personal care and fragrance companies, and other chemical and industrial companies.
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