Innospec (IOSP) Downgraded to Hold at ValuEngine

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ValuEngine cut shares of Innospec (NASDAQ:IOSP) from a buy rating to a hold rating in a report published on Monday morning, ValuEngine reports.

IOSP has been the topic of a number of other reports. BidaskClub upgraded shares of Innospec from a strong sell rating to a sell rating in a research report on Thursday, January 24th. Zacks Investment Research upgraded shares of Innospec from a hold rating to a strong-buy rating and set a $94.00 price target on the stock in a research report on Friday, March 1st.

Shares of NASDAQ IOSP opened at $79.07 on Monday. Innospec has a one year low of $53.07 and a one year high of $88.84. The company has a current ratio of 2.28, a quick ratio of 1.45 and a debt-to-equity ratio of 0.25. The company has a market cap of $1.94 billion, a price-to-earnings ratio of 16.37 and a beta of 1.31.

Innospec (NASDAQ:IOSP) last issued its quarterly earnings results on Tuesday, May 7th. The specialty chemicals company reported $1.25 EPS for the quarter, beating analysts’ consensus estimates of $1.18 by $0.07. Innospec had a net margin of 6.08% and a return on equity of 14.92%. The business had revenue of $388.30 million for the quarter. During the same quarter in the previous year, the business earned $1.02 earnings per share. The firm’s revenue was up 7.7% on a year-over-year basis. As a group, sell-side analysts predict that Innospec will post 5.15 EPS for the current fiscal year.

The firm also recently declared a Semi-Annual dividend, which will be paid on Thursday, May 30th. Shareholders of record on Tuesday, May 21st will be given a dividend of $0.50 per share. This represents a yield of 1.18%. The ex-dividend date is Monday, May 20th. Innospec’s payout ratio is currently 20.70%.

In other Innospec news, CEO Patrick Williams sold 7,030 shares of the stock in a transaction that occurred on Tuesday, March 12th. The shares were sold at an average price of $84.16, for a total transaction of $591,644.80. Following the transaction, the chief executive officer now directly owns 186,579 shares in the company, valued at $15,702,488.64. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Milton C. Blackmore sold 441 shares of the stock in a transaction that occurred on Monday, February 25th. The shares were sold at an average price of $81.62, for a total transaction of $35,994.42. Following the transaction, the director now owns 6,441 shares in the company, valued at $525,714.42. The disclosure for this sale can be found here. Insiders have sold 16,274 shares of company stock worth $1,359,219 over the last quarter. Company insiders own 1.62% of the company’s stock.

Several institutional investors have recently modified their holdings of IOSP. Bank of New York Mellon Corp grew its holdings in shares of Innospec by 3.6% in the third quarter. Bank of New York Mellon Corp now owns 351,777 shares of the specialty chemicals company’s stock worth $26,999,000 after purchasing an additional 12,101 shares during the last quarter. Renaissance Technologies LLC bought a new position in shares of Innospec in the third quarter worth approximately $453,000. Morgan Stanley grew its holdings in shares of Innospec by 48.2% in the third quarter. Morgan Stanley now owns 159,049 shares of the specialty chemicals company’s stock worth $12,208,000 after purchasing an additional 51,756 shares during the last quarter. Vanguard Group Inc. grew its holdings in shares of Innospec by 1.5% in the third quarter. Vanguard Group Inc. now owns 2,480,415 shares of the specialty chemicals company’s stock worth $190,371,000 after purchasing an additional 36,453 shares during the last quarter. Finally, Diversified Trust Co grew its holdings in shares of Innospec by 6.0% in the fourth quarter. Diversified Trust Co now owns 3,550 shares of the specialty chemicals company’s stock worth $219,000 after purchasing an additional 200 shares during the last quarter. Hedge funds and other institutional investors own 92.90% of the company’s stock.

Innospec Company Profile

Innospec Inc develops, manufactures, blends, markets, and supplies specialty chemicals worldwide. It operates through four segments: Fuel Specialties, Performance Chemicals, Oilfield Services, and Octane Additives. The Fuel Specialties segment offers a range of specialty chemical products used as additives in various fuels.

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To view ValuEngine’s full report, visit ValuEngine’s official website.

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