Innospec (NASDAQ:IOSP) Upgraded at Wall Street Zen

Wall Street Zen upgraded shares of Innospec (NASDAQ:IOSP) from a hold rating to a buy rating in a report released on Saturday.

Several other brokerages also recently weighed in on IOSP. Zacks Research downgraded Innospec from a “hold” rating to a “strong sell” rating in a research report on Tuesday, November 4th. Weiss Ratings restated a “sell (d)” rating on shares of Innospec in a research note on Thursday, December 4th. One analyst has rated the stock with a Strong Buy rating and two have issued a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Hold”.

Innospec Stock Up 0.2%

Shares of IOSP opened at $78.38 on Friday. The company has a 50 day moving average of $74.69 and a two-hundred day moving average of $80.55. The company has a market cap of $1.94 billion, a price-to-earnings ratio of -2,612.67 and a beta of 0.93. Innospec has a twelve month low of $70.10 and a twelve month high of $117.08.

Innospec (NASDAQ:IOSP) last posted its quarterly earnings data on Wednesday, November 5th. The specialty chemicals company reported $1.12 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.03 by $0.09. Innospec had a negative net margin of 0.07% and a positive return on equity of 10.28%. The firm had revenue of $441.90 million for the quarter, compared to the consensus estimate of $443.00 million. During the same quarter in the prior year, the company posted $1.35 earnings per share. The company’s revenue for the quarter was down .3% compared to the same quarter last year. On average, sell-side analysts expect that Innospec will post 6.18 EPS for the current year.

Innospec Dividend Announcement

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

Insider Buying and Selling

In related 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 completion of the transaction, the director owned 5,837 shares in the company, valued at $432,463.33. This represents a 6.19% increase in their position. The purchase was disclosed in a filing with the SEC, which can be accessed through this hyperlink. 1.31% of the stock is owned by insiders.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in the stock. BNP PARIBAS ASSET MANAGEMENT Holding S.A. purchased a new position in shares of Innospec in the second quarter valued at $28,000. Versant Capital Management Inc grew its stake in Innospec by 378.1% in the 3rd quarter. Versant Capital Management Inc now owns 545 shares of the specialty chemicals company’s stock valued at $42,000 after acquiring an additional 431 shares during the last quarter. EverSource Wealth Advisors LLC increased its holdings in Innospec by 1,159.5% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 529 shares of the specialty chemicals company’s stock valued at $44,000 after acquiring an additional 487 shares in the last quarter. Allworth Financial LP raised its position in Innospec by 31.0% during the third quarter. Allworth Financial LP now owns 588 shares of the specialty chemicals company’s stock worth $45,000 after acquiring an additional 139 shares during the last quarter. Finally, Danske Bank A S acquired a new position in Innospec during the third quarter worth about $46,000. 96.64% of the stock is currently owned by institutional investors and hedge funds.

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.