Hugh Aldous Sells 672 Shares of Innospec Inc. (IOSP) Stock
Innospec Inc. (NASDAQ:IOSP) Director Hugh Aldous sold 672 shares of the firm’s stock in a transaction on Friday, November 18th. The shares were sold at an average price of $63.15, for a total transaction of $42,436.80. Following the completion of the transaction, the director now owns 15,060 shares in the company, valued at $951,039. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink.
Innospec Inc. (NASDAQ:IOSP) opened at 66.85 on Thursday. The company’s 50-day moving average is $61.02 and its 200 day moving average is $54.98. The company has a market cap of $1.60 billion, a price-to-earnings ratio of 18.01 and a beta of 1.32. Innospec Inc. has a 1-year low of $41.61 and a 1-year high of $67.25.
Innospec (NASDAQ:IOSP) last posted its quarterly earnings data on Wednesday, November 2nd. The company reported $0.78 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.77 by $0.01. Innospec had a net margin of 10.17% and a return on equity of 15.53%. The business earned $205.50 million during the quarter, compared to analysts’ expectations of $232.15 million. During the same quarter in the prior year, the business posted $1.45 earnings per share. Innospec’s revenue was down 19.2% compared to the same quarter last year. On average, equities analysts predict that Innospec Inc. will post $3.72 EPS for the current fiscal year.
The business also recently announced a semiannual dividend, which will be paid on Thursday, November 24th. Stockholders of record on Tuesday, November 15th will be issued a $0.34 dividend. The ex-dividend date of this dividend is Thursday, November 10th. This represents a dividend yield of 1.23%. This is a boost from Innospec’s previous semiannual dividend of $0.33. Innospec’s dividend payout ratio is 18.38%.
A number of equities analysts have recently commented on IOSP shares. CJS Securities raised shares of Innospec from a “market perform” rating to an “outperform” rating and set a $63.00 price objective for the company in a report on Friday, August 5th. Monness Crespi & Hardt upgraded shares of Innospec from a “neutral” rating to a “buy” rating and set a $60.00 target price for the company in a research report on Thursday, August 4th. Finally, Zacks Investment Research upgraded shares of Innospec from a “sell” rating to a “hold” rating in a research report on Monday.
Several hedge funds and other institutional investors have recently bought and sold shares of the company. Credit Suisse AG boosted its position in Innospec by 37.4% in the third quarter. Credit Suisse AG now owns 40,576 shares of the company’s stock worth $2,467,000 after buying an additional 11,045 shares during the period. Hillcrest Asset Management LLC boosted its position in Innospec by 1.4% in the third quarter. Hillcrest Asset Management LLC now owns 127,670 shares of the company’s stock worth $7,764,000 after buying an additional 1,720 shares during the period. Connor Clark & Lunn Investment Management Ltd. bought a new position in Innospec during the third quarter worth approximately $1,368,000. Highbridge Capital Management LLC bought a new position in Innospec during the third quarter worth approximately $248,000. Finally, The Manufacturers Life Insurance Company bought a new position in Innospec during the third quarter worth approximately $963,000. 88.40% of the stock is owned by hedge funds and other institutional investors.
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Innospec Company Profile
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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