Innospec (NASDAQ:IOSP) Posts Earnings Results

Innospec (NASDAQ:IOSP) posted its quarterly earnings data on Tuesday. The specialty chemicals company reported $1.12 earnings per share for the quarter, topping the consensus estimate of $1.03 by $0.09, Zacks reports. Innospec had a return on equity of 10.89% and a net margin of 1.08%.The business had revenue of $441.90 million during the quarter, compared to analysts’ expectations of $443.00 million. During the same quarter in the previous year, the firm earned $1.35 EPS. The firm’s revenue was down .3% compared to the same quarter last year.

Innospec Stock Performance

Shares of IOSP traded down $0.68 during mid-day trading on Thursday, reaching $73.33. The stock had a trading volume of 96,721 shares, compared to its average volume of 200,613. The firm has a market cap of $1.82 billion, a price-to-earnings ratio of 94.35 and a beta of 1.06. Innospec has a 12 month low of $71.06 and a 12 month high of $124.80. The business has a fifty day moving average of $78.71 and a 200 day moving average of $83.45.

Innospec Announces Dividend

The firm also recently announced a dividend, which will be paid on Wednesday, November 26th. Shareholders of record on Tuesday, November 18th will be issued a dividend of $0.87 per share. This represents a yield of 237.0%. The ex-dividend date of this dividend is Tuesday, November 18th. Innospec’s dividend payout ratio is currently 215.38%.

Wall Street Analysts Forecast Growth

A number of research firms have recently weighed in on IOSP. Zacks Research downgraded Innospec from a “hold” rating to a “strong sell” rating in a research note on Tuesday. Wall Street Zen cut Innospec from a “buy” rating to a “hold” rating in a report on Sunday, October 19th. Finally, Weiss Ratings downgraded shares of Innospec from a “hold (c-)” rating to a “sell (d+)” rating in a research report on Saturday, October 25th. One investment analyst has rated the stock with a Strong Buy rating and two have issued a Sell rating to the company. According to data from MarketBeat, Innospec currently has a consensus rating of “Hold”.

Hedge Funds Weigh In On Innospec

Several institutional investors have recently bought and sold shares of the business. Millennium Management LLC raised its stake in shares of Innospec by 8,176.5% in the first quarter. Millennium Management LLC now owns 170,414 shares of the specialty chemicals company’s stock valued at $16,147,000 after acquiring an additional 168,355 shares during the period. Qube Research & Technologies Ltd increased 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 worth $25,796,000 after acquiring an additional 128,544 shares in the last quarter. Jane Street Group LLC grew its holdings in shares of Innospec by 1,551.5% during the first quarter. Jane Street Group LLC now owns 95,243 shares of the specialty chemicals company’s stock worth $9,024,000 after buying an additional 89,476 shares in the last quarter. Cubist Systematic Strategies LLC grew its holdings in shares of Innospec by 68.0% in the second quarter. Cubist Systematic Strategies LLC now owns 219,088 shares of the specialty chemicals company’s stock valued at $18,423,000 after purchasing an additional 88,661 shares during the period. Finally, AQR Capital Management LLC lifted its position in Innospec by 403.0% in the second quarter. AQR Capital Management LLC now owns 72,024 shares of the specialty chemicals company’s stock valued at $6,057,000 after buying an additional 57,706 shares during the last quarter. Institutional investors own 96.64% of the company’s stock.

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.