Short Interest in Innospec Inc. (NASDAQ:IOSP) Increases By 21.9%

Innospec Inc. (NASDAQ:IOSP) saw a large growth in short interest in December. As of December 31st, there was short interest totaling 521,031 shares, a growth of 21.9% from the December 15th total of 427,466 shares. Based on an average trading volume of 234,140 shares, the short-interest ratio is currently 2.2 days. Approximately 2.1% of the company’s stock are sold short. Approximately 2.1% of the company’s stock are sold short. Based on an average trading volume of 234,140 shares, the short-interest ratio is currently 2.2 days.

Innospec Stock Performance

NASDAQ:IOSP traded down $2.03 during trading hours on Monday, hitting $79.86. The company’s stock had a trading volume of 150,836 shares, compared to its average volume of 162,185. Innospec has a 52-week low of $70.10 and a 52-week high of $117.08. The business’s 50-day moving average is $76.54 and its two-hundred day moving average is $79.45. The company has a market capitalization of $1.98 billion, a PE ratio of -2,662.00 and a beta of 0.91.

Innospec (NASDAQ:IOSP) last released its quarterly earnings results on Wednesday, November 5th. The specialty chemicals company reported $1.12 earnings per share for the quarter, topping analysts’ consensus estimates of $1.03 by $0.09. The business had revenue of $441.90 million for the quarter, compared to analysts’ expectations of $443.00 million. Innospec had a positive return on equity of 10.28% and a negative net margin of 0.07%.The company’s revenue was down .3% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $1.35 EPS. As a group, analysts predict that Innospec will post 6.18 EPS for the current fiscal year.

Innospec Dividend Announcement

The firm also recently announced a dividend, which was paid on Wednesday, November 26th. Shareholders of record on Tuesday, November 18th were given a dividend of $0.87 per share. The ex-dividend date was Tuesday, November 18th. This represents a yield of 245.0%. Innospec’s payout ratio is presently -5,800.00%.

Insider Buying and Selling at Innospec

In other Innospec news, Director Leslie J. Parrette acquired 340 shares of the stock in a transaction dated Friday, November 14th. The stock was acquired at an average cost of $74.09 per share, with a total value of $25,190.60. Following the transaction, the director owned 5,837 shares in the company, valued at $432,463.33. The trade was a 6.19% increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 1.31% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of IOSP. Medina Value Partners LLC purchased a new position in Innospec during the third quarter worth $18,206,000. Millennium Management LLC increased its position in Innospec by 8,176.5% during the 1st quarter. Millennium Management LLC now owns 170,414 shares of the specialty chemicals company’s stock worth $16,147,000 after purchasing an additional 168,355 shares in the last quarter. Norges Bank acquired a new position in Innospec in the 2nd quarter valued at about $11,230,000. Qube Research & Technologies Ltd lifted its holdings in Innospec by 72.1% in the 2nd quarter. Qube Research & Technologies Ltd now owns 306,761 shares of the specialty chemicals company’s stock valued at $25,796,000 after purchasing an additional 128,544 shares in the last quarter. Finally, Assenagon Asset Management S.A. boosted its stake in shares of Innospec by 512.0% during the 3rd quarter. Assenagon Asset Management S.A. now owns 129,397 shares of the specialty chemicals company’s stock worth $9,984,000 after purchasing an additional 108,254 shares during the last quarter. 96.64% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several analysts have recently weighed in on IOSP shares. Zacks Research upgraded shares of Innospec from a “strong sell” rating to a “hold” rating in a research report on Tuesday, January 6th. Weiss Ratings reiterated a “sell (d+)” rating on shares of Innospec in a research note on Monday, December 22nd. Finally, Wall Street Zen raised Innospec from a “hold” rating to a “buy” rating in a report on Saturday, December 13th. One analyst has rated the stock with a Strong Buy rating, one has issued a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, Innospec currently has a consensus rating of “Hold”.

About Innospec

Innospec Incorporated (NASDAQ: IOSP) is a global specialty chemicals company headquartered in Cleveland, Ohio. The company operates through three principal business segments: Fuel Specialties, Oilfield Services, and Performance Chemicals. In the Fuel Specialties segment, Innospec develops and supplies additives designed to enhance octane levels, improve combustion efficiency, reduce emissions and prevent deposit formation in gasoline and diesel engines. Its Oilfield Services division provides chemical technologies—such as surfactants, corrosion inhibitors and demulsifiers—to support exploration, drilling, production optimization and enhanced oil recovery operations.