Johnson Rice upgraded shares of Innospec Inc. (NASDAQ:IOSP) from a hold rating to an accumulate rating in a report issued on Tuesday morning, Marketbeat Ratings reports.
A number of other analysts have also recently issued reports on IOSP. Monness Crespi & Hardt cut Innospec from a buy rating to a neutral rating in a report on Thursday, November 9th. Zacks Investment Research raised Innospec from a hold rating to a buy rating and set a $76.00 price objective on the stock in a report on Friday, November 10th. KeyCorp reissued an overweight rating on shares of Innospec in a report on Thursday, November 9th. ValuEngine raised Innospec from a hold rating to a buy rating in a report on Thursday, November 9th. Finally, BidaskClub cut Innospec from a sell rating to a strong sell rating in a report on Thursday, July 27th. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating and three have given a buy rating to the company’s stock. The company currently has a consensus rating of Hold and a consensus price target of $70.50.
Shares of Innospec (NASDAQ:IOSP) traded up $0.30 on Tuesday, reaching $69.45. The company had a trading volume of 75,498 shares, compared to its average volume of 98,274. The stock has a market cap of $1,643.77, a PE ratio of 16.02 and a beta of 1.16. The company has a debt-to-equity ratio of 0.30, a current ratio of 2.24 and a quick ratio of 1.35. Innospec has a twelve month low of $54.10 and a twelve month high of $74.75.
Innospec (NASDAQ:IOSP) last issued its quarterly earnings data on Tuesday, November 7th. The specialty chemicals company reported $1.00 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.85 by $0.15. The business had revenue of $332.40 million for the quarter, compared to analysts’ expectations of $309.40 million. Innospec had a return on equity of 15.05% and a net margin of 7.45%. The firm’s quarterly revenue was up 61.8% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.78 EPS. research analysts predict that Innospec will post 4.3 earnings per share for the current year.
The firm also recently announced a semiannual dividend, which will be paid on Monday, November 27th. Shareholders of record on Thursday, November 16th will be paid a $0.39 dividend. This is a positive change from Innospec’s previous semiannual dividend of $0.38. This represents a yield of 1.12%. The ex-dividend date of this dividend is Wednesday, November 15th. Innospec’s dividend payout ratio is currently 21.61%.
A number of hedge funds and other institutional investors have recently made changes to their positions in the business. Pinebridge Investments L.P. increased its stake in Innospec by 1.3% in the 2nd quarter. Pinebridge Investments L.P. now owns 3,180 shares of the specialty chemicals company’s stock worth $209,000 after acquiring an additional 41 shares during the last quarter. Amalgamated Bank increased its stake in Innospec by 1.8% in the 2nd quarter. Amalgamated Bank now owns 3,257 shares of the specialty chemicals company’s stock worth $213,000 after acquiring an additional 57 shares during the last quarter. Arizona State Retirement System increased its position in shares of Innospec by 0.8% during the 2nd quarter. Arizona State Retirement System now owns 12,600 shares of the specialty chemicals company’s stock valued at $826,000 after purchasing an additional 100 shares during the last quarter. Loews Corp increased its position in shares of Innospec by 2.0% during the 2nd quarter. Loews Corp now owns 5,192 shares of the specialty chemicals company’s stock valued at $340,000 after purchasing an additional 100 shares during the last quarter. Finally, Suntrust Banks Inc. increased its position in shares of Innospec by 4.0% during the 2nd quarter. Suntrust Banks Inc. now owns 3,996 shares of the specialty chemicals company’s stock valued at $261,000 after purchasing an additional 155 shares during the last quarter. Institutional investors and hedge funds own 88.80% of the company’s stock.
Innospec Company Profile
Innospec Inc is a specialty chemicals company engaged in developing, manufacturing, blending, marketing and supplying of specialty chemicals for use as fuel additives and ingredients for personal care, home care, agrochemical, mining and other applications and oilfield chemicals. The Company operates through four business segments: Fuel Specialties, Performance Chemicals, Oilfield Services and Octane Additives.
Receive News & Ratings for Innospec Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Innospec Inc. and related companies with MarketBeat.com's FREE daily email newsletter.