Innospec (NASDAQ:IOSP) Hits New 1-Year Low – What’s Next?

Innospec Inc. (NASDAQ:IOSP)’s share price reached a new 52-week low during mid-day trading on Friday . The company traded as low as $103.71 and last traded at $105.98, with a volume of 11714 shares trading hands. The stock had previously closed at $106.62.

Wall Street Analyst Weigh In

Separately, StockNews.com upgraded shares of Innospec from a “buy” rating to a “strong-buy” rating in a research report on Friday, January 3rd.

Innospec Stock Performance

The stock’s 50 day moving average is $114.89 and its two-hundred day moving average is $115.38. The stock has a market capitalization of $2.60 billion, a PE ratio of 18.16 and a beta of 1.09.

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

Innospec Increases Dividend

The firm also recently disclosed a Semi-Annual dividend, which was paid on Tuesday, November 26th. Investors of record on Monday, November 18th were paid a dividend of $0.79 per share. This represents a yield of 1.3%. The ex-dividend date of this dividend was Monday, November 18th. This is a boost from Innospec’s previous Semi-Annual dividend of $0.72. Innospec’s dividend payout ratio is currently 27.57%.

Insider Transactions at Innospec

In other Innospec news, Director Milton C. Blackmore sold 1,035 shares of Innospec stock in a transaction dated Wednesday, November 13th. The shares were sold at an average price of $122.92, for a total transaction of $127,222.20. Following the completion of the sale, the director now directly owns 9,028 shares in the company, valued at $1,109,721.76. This trade represents a 10.29 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 1.35% of the company’s stock.

Hedge Funds Weigh In On Innospec

Hedge funds and other institutional investors have recently bought and sold shares of the company. Blue Trust Inc. grew its stake 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 worth $96,000 after acquiring an additional 650 shares in the last quarter. nVerses Capital LLC lifted its stake in Innospec by 200.0% during the third quarter. nVerses Capital LLC now owns 900 shares of the specialty chemicals company’s stock worth $102,000 after purchasing an additional 600 shares during the last quarter. Point72 DIFC Ltd acquired a new stake in shares of Innospec during the second quarter worth about $184,000. Point72 Asset Management L.P. acquired a new stake in Innospec during the 3rd quarter worth $215,000. Finally, Sanctuary Advisors LLC purchased a new position in shares of Innospec during the second quarter worth about $233,000. 96.64% of the stock is currently owned by hedge funds and other institutional investors.

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.