Innospec (NASDAQ:IOSP) Reaches New 52-Week Low – Time to Sell?

Innospec Inc. (NASDAQ:IOSP)’s stock price hit a new 52-week low during mid-day 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.

Analysts Set New Price Targets

Several research analysts have recently commented on the company. Zacks Research downgraded Innospec from a “hold” rating to a “strong sell” rating in a report on Tuesday, November 4th. Weiss Ratings lowered Innospec from a “hold (c-)” rating to a “sell (d+)” rating in a research report on Saturday, October 25th. Finally, Wall Street Zen downgraded Innospec from a “buy” rating to a “hold” rating in a research report on Sunday, October 19th. One investment analyst has rated the stock with a Strong Buy rating and two have assigned a Sell rating to the stock. According to data from MarketBeat, Innospec has a consensus rating of “Hold”.

Innospec Price Performance

The company has a market capitalization of $1.75 billion, a P/E ratio of 90.54 and a beta of 1.06. The company has a 50 day moving average of $76.04 and a 200-day moving average of $82.27.

Innospec (NASDAQ:IOSP) last released its quarterly earnings results on Wednesday, November 5th. The specialty chemicals company reported $1.12 EPS for the quarter, beating analysts’ consensus estimates of $1.03 by $0.09. The business had revenue of $441.90 million during the quarter, compared to analyst estimates of $443.00 million. Innospec had a return on equity of 10.89% and a net margin of 1.08%.Innospec’s quarterly revenue was down .3% compared to the same quarter last year. During the same quarter in the prior year, the company posted $1.35 EPS. Research analysts predict that Innospec Inc. will post 6.18 EPS for the current fiscal year.

Innospec Dividend Announcement

The firm also recently declared a dividend, which will be paid on Wednesday, November 26th. Investors of record on Tuesday, November 18th will be paid a $0.87 dividend. The ex-dividend date of this dividend is Tuesday, November 18th. This represents a yield of 245.0%. Innospec’s dividend payout ratio (DPR) is presently -5,800.00%.

Insiders Place Their Bets

In related news, Director Leslie J. Parrette acquired 340 shares of Innospec stock in a transaction on Friday, November 14th. The shares were acquired at an average cost of $74.09 per share, with a total value of $25,190.60. Following the transaction, the director owned 5,837 shares in the company, valued at $432,463.33. This trade represents a 6.19% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. 1.31% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Innospec

Several institutional investors and hedge funds have recently modified their holdings of the stock. Wealth Enhancement Advisory Services LLC bought a new position in Innospec in the 2nd quarter worth about $345,000. American Century Companies Inc. increased its stake in Innospec by 27.7% during the 1st quarter. American Century Companies Inc. now owns 47,545 shares of the specialty chemicals company’s stock valued at $4,505,000 after purchasing an additional 10,309 shares in the last quarter. Voya Investment Management LLC raised its holdings in Innospec by 63.2% in the first quarter. Voya Investment Management LLC now owns 327,289 shares of the specialty chemicals company’s stock worth $31,011,000 after buying an additional 126,750 shares during the last quarter. Blue Trust Inc. lifted its stake in shares of Innospec by 38.3% in the second quarter. Blue Trust Inc. now owns 672 shares of the specialty chemicals company’s stock worth $57,000 after buying an additional 186 shares in the last quarter. Finally, State of New Jersey Common Pension Fund D lifted its stake in shares of Innospec by 15.3% in the second quarter. State of New Jersey Common Pension Fund D now owns 21,862 shares of the specialty chemicals company’s stock worth $1,838,000 after buying an additional 2,894 shares in the last quarter. 96.64% of the stock is owned by hedge funds and other institutional investors.

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.