Joachim Roeser Sells 8,333 Shares of Innospec Inc. (IOSP) Stock
Innospec Inc. (NASDAQ:IOSP) Director Joachim Roeser sold 8,333 shares of the company’s stock in a transaction dated Monday, November 14th. The shares were sold at an average price of $60.53, for a total transaction of $504,396.49. Following the sale, the director now directly owns 8,120 shares of the company’s stock, valued at approximately $491,503.60. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink.
Shares of Innospec Inc. (NASDAQ:IOSP) opened at 62.65 on Friday. The company has a 50-day moving average of $60.39 and a 200 day moving average of $54.44. Innospec Inc. has a 12-month low of $41.61 and a 12-month high of $63.10. The stock has a market capitalization of $1.50 billion, a price-to-earnings ratio of 16.88 and a beta of 1.32.
Innospec (NASDAQ:IOSP) last issued its quarterly earnings results on Wednesday, November 2nd. The company reported $0.78 earnings per share for the quarter, topping the consensus estimate of $0.77 by $0.01. The business earned $205.50 million during the quarter, compared to the consensus estimate of $232.15 million. Innospec had a return on equity of 15.53% and a net margin of 10.17%. The company’s quarterly revenue was down 19.2% on a year-over-year basis. During the same quarter last year, the company earned $1.45 earnings per share. Analysts predict that Innospec Inc. will post $3.72 earnings per share for the current year.
The firm also recently declared a semiannual dividend, which will be paid on Thursday, November 24th. Shareholders of record on Tuesday, November 15th will be issued a $0.34 dividend. This represents a yield of 1.23%. The ex-dividend date is Thursday, November 10th. This is an increase from Innospec’s previous semiannual dividend of $0.33. Innospec’s dividend payout ratio (DPR) is currently 18.38%.
A number of large investors have recently modified their holdings of the company. Tower Research Capital LLC TRC increased its stake in shares of Innospec by 2,913.8% in the second quarter. Tower Research Capital LLC TRC now owns 2,411 shares of the company’s stock valued at $111,000 after buying an additional 2,331 shares in the last quarter. PineBridge Investments L.P. increased its stake in Innospec by 3.6% in the second quarter. PineBridge Investments L.P. now owns 3,039 shares of the company’s stock worth $140,000 after buying an additional 106 shares during the period. Teacher Retirement System of Texas increased its stake in Innospec by 13.8% in the second quarter. Teacher Retirement System of Texas now owns 3,385 shares of the company’s stock worth $156,000 after buying an additional 411 shares during the period. Profund Advisors LLC purchased a new stake in Innospec during the third quarter worth approximately $213,000. Finally, Mason Street Advisors LLC purchased a new stake in Innospec during the second quarter worth approximately $216,000. 88.97% of the stock is owned by institutional investors and hedge funds.
IOSP has been the subject of several research reports. Monness Crespi & Hardt raised shares of Innospec from a “neutral” rating to a “buy” rating and set a $60.00 price target for the company in a research report on Thursday, August 4th. CJS Securities raised shares of Innospec from a “market perform” rating to an “outperform” rating and set a $63.00 target price for the company in a report on Friday, August 5th. Finally, Zacks Investment Research raised shares of Innospec from a “hold” rating to a “buy” rating and set a $66.00 target price for the company in a report on Saturday, August 6th.
Innospec Inc develops, manufactures, blends, markets and supplies fuel additives, oilfield chemicals, personal care and fragrance ingredients and other specialty chemicals. The Company operates in three segments: Fuel Specialties, Performance Chemicals and Octane Additives. The Company’s products are sold to oil and gas exploration and production companies, oil refineries, personal care and fragrance companies, and other chemical and industrial companies.
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