Innospec Inc. (NASDAQ:IOSP) Short Interest Update

Innospec Inc. (NASDAQ:IOSP) was the recipient of a large growth in short interest in December. As of December 31st, there was short interest totaling 521,031 shares, a growth of 21.9% from the December 15th total of 427,466 shares. Currently, 2.1% of the company’s stock are sold short. Based on an average trading volume of 234,140 shares, the short-interest ratio is presently 2.2 days. Based on an average trading volume of 234,140 shares, the short-interest ratio is presently 2.2 days. Currently, 2.1% of the company’s stock are sold short.

Analyst Upgrades and Downgrades

A number of equities analysts have commented on the company. Wall Street Zen upgraded shares of Innospec from a “hold” rating to a “buy” rating in a research note on Saturday, December 13th. Weiss Ratings reiterated a “sell (d+)” rating on shares of Innospec in a research report on Monday, December 22nd. Finally, Zacks Research raised shares of Innospec from a “strong sell” rating to a “hold” rating in a research note on Tuesday, January 6th. One research analyst has rated the stock with a Strong Buy rating, one has given a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, Innospec currently has an average rating of “Hold”.

Insider Buying and Selling

In other news, Director Leslie J. Parrette purchased 340 shares of the business’s stock in a transaction on Friday, November 14th. The stock was purchased at an average price of $74.09 per share, for a total transaction of $25,190.60. Following the completion of the purchase, the director directly owned 5,837 shares in the company, valued at $432,463.33. The trade was a 6.19% increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 1.31% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of IOSP. Baird Financial Group Inc. boosted its stake in shares of Innospec by 11.5% in the 1st quarter. Baird Financial Group Inc. now owns 2,170 shares of the specialty chemicals company’s stock worth $206,000 after buying an additional 223 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its holdings in Innospec by 4.5% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 14,833 shares of the specialty chemicals company’s stock worth $1,405,000 after acquiring an additional 645 shares during the period. Millennium Management LLC boosted its position in Innospec by 8,176.5% in the first quarter. Millennium Management LLC now owns 170,414 shares of the specialty chemicals company’s stock worth $16,147,000 after purchasing an additional 168,355 shares during the last quarter. NewEdge Advisors LLC grew its stake in Innospec by 37.4% in the 1st quarter. NewEdge Advisors LLC now owns 4,567 shares of the specialty chemicals company’s stock valued at $433,000 after purchasing an additional 1,243 shares during the period. Finally, Goldman Sachs Group Inc. grew its stake in Innospec by 6.4% in the 1st quarter. Goldman Sachs Group Inc. now owns 132,399 shares of the specialty chemicals company’s stock valued at $12,545,000 after purchasing an additional 8,014 shares during the period. Institutional investors and hedge funds own 96.64% of the company’s stock.

Innospec Price Performance

NASDAQ IOSP traded down $0.61 during trading hours on Tuesday, reaching $79.25. The company’s stock had a trading volume of 156,719 shares, compared to its average volume of 159,427. Innospec has a 52 week low of $70.10 and a 52 week high of $117.08. The firm has a fifty day simple moving average of $76.64 and a 200-day simple moving average of $79.39. The stock has a market cap of $1.96 billion, a P/E ratio of -2,641.67 and a beta of 0.91.

Innospec (NASDAQ:IOSP) last issued its quarterly 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 company had revenue of $441.90 million during the quarter, compared to analysts’ expectations of $443.00 million. Innospec had a positive return on equity of 10.28% and a negative net margin of 0.07%.The business’s quarterly revenue was down .3% on a year-over-year basis. During the same quarter in the prior year, the firm posted $1.35 earnings per share. On average, research analysts expect that Innospec will post 6.18 earnings per share for the current year.

Innospec Dividend Announcement

The business also recently disclosed a dividend, which was paid on Wednesday, November 26th. Stockholders of record on Tuesday, November 18th were issued a dividend of $0.87 per share. The ex-dividend date was Tuesday, November 18th. This represents a dividend yield of 245.0%. Innospec’s dividend payout ratio is currently -5,800.00%.

About Innospec

Innospec Incorporated (NASDAQ: IOSP) is a global specialty chemicals company headquartered in Cleveland, Ohio. The company operates through three principal business segments: Fuel Specialties, Oilfield Services, and Performance Chemicals. In the Fuel Specialties segment, Innospec develops and supplies additives designed to enhance octane levels, improve combustion efficiency, reduce emissions and prevent deposit formation in gasoline and diesel engines. Its Oilfield Services division provides chemical technologies—such as surfactants, corrosion inhibitors and demulsifiers—to support exploration, drilling, production optimization and enhanced oil recovery operations.