Innospec (NASDAQ:IOSP) Sets New 52-Week Low – Here’s What Happened

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

Analyst Ratings Changes

Separately, StockNews.com raised Innospec from a “buy” rating to a “strong-buy” rating in a research note on Friday, January 3rd.

Innospec Stock Performance

The company has a fifty day moving average of $114.89 and a two-hundred day moving average of $115.38. The company has a market cap of $2.60 billion, a PE ratio of 18.16 and a beta of 1.09.

Innospec (NASDAQ:IOSP) last released its quarterly earnings results on Tuesday, November 5th. The specialty chemicals company reported $1.35 EPS for the quarter, hitting analysts’ consensus estimates of $1.35. The firm had revenue of $443.40 million during the quarter, compared to analysts’ expectations of $442.13 million. Innospec had a net margin of 7.68% and a return on equity of 13.33%. The firm’s revenue for the quarter was down 4.5% compared to the same quarter last year. During the same period in the previous year, the company earned $1.59 EPS. On average, equities analysts forecast that Innospec Inc. will post 5.88 EPS for the current year.

Innospec Increases Dividend

The company also recently declared a Semi-Annual dividend, which was paid on Tuesday, November 26th. Stockholders of record on Monday, November 18th were paid a dividend of $0.79 per share. The ex-dividend date of this dividend was Monday, November 18th. This represents a dividend yield of 1.3%. This is a positive change from Innospec’s previous Semi-Annual dividend of $0.72. Innospec’s dividend payout ratio (DPR) is currently 27.57%.

Insiders Place Their Bets

In related news, Director Milton C. Blackmore sold 1,035 shares of the company’s stock in a transaction on 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 sale, the director now directly owns 9,028 shares in the company, valued at $1,109,721.76. This represents a 10.29 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this link. 1.35% of the stock is owned by company insiders.

Hedge Funds Weigh In On Innospec

Large investors have recently made changes to their positions in the business. Allspring Global Investments Holdings LLC grew its stake in shares of Innospec by 4.6% during the third quarter. Allspring Global Investments Holdings LLC now owns 2,405,770 shares of the specialty chemicals company’s stock worth $272,069,000 after acquiring an additional 105,311 shares during the last quarter. Wasatch Advisors LP increased its stake in Innospec by 0.6% during the 3rd quarter. Wasatch Advisors LP now owns 1,805,546 shares of the specialty chemicals company’s stock valued at $204,189,000 after purchasing an additional 11,231 shares in the last quarter. State Street Corp lifted its stake in shares of Innospec by 2.1% during the third quarter. State Street Corp now owns 996,281 shares of the specialty chemicals company’s stock worth $112,669,000 after buying an additional 20,744 shares during the period. Victory Capital Management Inc. grew its holdings in shares of Innospec by 4.8% during the third quarter. Victory Capital Management Inc. now owns 908,032 shares of the specialty chemicals company’s stock valued at $102,689,000 after buying an additional 41,449 shares during the last quarter. Finally, Royce & Associates LP lifted its position in Innospec by 9.3% during the 3rd quarter. Royce & Associates LP now owns 835,333 shares of the specialty chemicals company’s stock worth $94,468,000 after acquiring an additional 70,902 shares during the period. 96.64% of the stock is owned by institutional investors and hedge funds.

Innospec Company Profile

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.