Innospec (NASDAQ:IOSP) Reaches New 12-Month Low – Should You Sell?

Innospec Inc. (NASDAQ:IOSP) shares hit a new 52-week low during trading on Tuesday . The company traded as low as $70.46 and last traded at $70.5550, with a volume of 27861 shares trading hands. The stock had previously closed at $72.23.

Analyst Ratings Changes

A number of research analysts recently commented on IOSP shares. Weiss Ratings lowered Innospec from a “hold (c-)” rating to a “sell (d+)” rating in a research note on Saturday, October 25th. Zacks Research lowered shares of Innospec from a “hold” rating to a “strong sell” rating in a report on Tuesday, November 4th. Finally, Wall Street Zen lowered shares of Innospec from a “buy” rating to a “hold” rating in a research report on Sunday, October 19th. One research analyst has rated the stock with a Strong Buy rating and two have given a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Hold”.

Innospec Price Performance

The business’s 50-day moving average is $76.80 and its two-hundred day moving average is $82.58. The firm has a market cap of $1.76 billion, a P/E ratio of 91.04 and a beta of 1.06.

Innospec (NASDAQ:IOSP) last released its earnings results on Wednesday, November 5th. The specialty chemicals company reported $1.12 earnings per share for the quarter, beating the consensus estimate of $1.03 by $0.09. The business had revenue of $441.90 million during the quarter, compared to analysts’ expectations of $443.00 million. Innospec had a net margin of 1.08% and a return on equity of 10.89%. The firm’s revenue was down .3% on a year-over-year basis. During the same period last year, the business earned $1.35 earnings per share. Equities research analysts predict that Innospec Inc. will post 6.18 EPS for the current year.

Innospec Announces Dividend

The firm also recently disclosed a dividend, which will be paid on Wednesday, November 26th. Shareholders of record on Tuesday, November 18th will be issued a $0.87 dividend. The ex-dividend date of this dividend is Tuesday, November 18th. This represents a yield of 246.0%. Innospec’s payout ratio is currently -5,800.00%.

Insider Transactions at Innospec

In other news, Director Leslie J. Parrette acquired 340 shares of the stock in a transaction on Friday, November 14th. The stock was acquired at an average cost of $74.09 per share, for a total transaction of $25,190.60. Following the completion of the transaction, the director directly owned 5,837 shares in the company, valued at approximately $432,463.33. This trade represents a 6.19% increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is available through the SEC website. 1.31% of the stock is owned by insiders.

Hedge Funds Weigh In On Innospec

A number of hedge funds have recently modified their holdings of the business. Envestnet Asset Management Inc. raised its holdings in shares of Innospec by 2.3% during the first quarter. Envestnet Asset Management Inc. now owns 28,194 shares of the specialty chemicals company’s stock valued at $2,671,000 after purchasing an additional 640 shares during the period. Burney Co. lifted its holdings in shares of Innospec by 7.3% in the 1st quarter. Burney Co. now owns 29,445 shares of the specialty chemicals company’s stock worth $2,790,000 after purchasing an additional 2,010 shares in the last quarter. Mackenzie Financial Corp grew its position in Innospec by 19.5% in the 1st quarter. Mackenzie Financial Corp now owns 3,559 shares of the specialty chemicals company’s stock valued at $337,000 after purchasing an additional 580 shares during the period. XTX Topco Ltd bought a new stake in Innospec during the 1st quarter valued at $1,189,000. Finally, US Bancorp DE raised its holdings in Innospec by 4.2% during the first quarter. US Bancorp DE now owns 5,082 shares of the specialty chemicals company’s stock worth $482,000 after buying an additional 207 shares during the last quarter. Institutional investors and hedge funds own 96.64% of the company’s stock.

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.