Short Interest in Innospec Inc. (NASDAQ:IOSP) Decreases By 31.0%

Innospec Inc. (NASDAQ:IOSP) was the target of a large decline in short interest in January. As of January 15th, there was short interest totaling 359,671 shares, a decline of 31.0% from the December 31st total of 521,031 shares. Currently, 1.5% of the shares of the stock are sold short. Based on an average daily trading volume, of 159,161 shares, the days-to-cover ratio is currently 2.3 days. Based on an average daily trading volume, of 159,161 shares, the days-to-cover ratio is currently 2.3 days. Currently, 1.5% of the shares of the stock are sold short.

Innospec Stock Performance

NASDAQ IOSP traded up $0.31 during trading on Friday, hitting $81.72. The stock had a trading volume of 189,453 shares, compared to its average volume of 131,549. Innospec has a 12 month low of $70.10 and a 12 month high of $116.41. The company has a market capitalization of $2.03 billion, a PE ratio of -2,724.00 and a beta of 0.91. The company’s 50-day moving average price is $78.01 and its two-hundred day moving average price is $79.02.

Innospec (NASDAQ:IOSP) last announced its earnings results on Wednesday, November 5th. The specialty chemicals company reported $1.12 EPS for the quarter, topping the consensus estimate of $1.03 by $0.09. Innospec had a negative net margin of 0.07% and a positive return on equity of 10.28%. The business had revenue of $441.90 million during the quarter, compared to analysts’ expectations of $443.00 million. During the same quarter in the prior year, the company posted $1.35 earnings per share. The firm’s revenue was down .3% on a year-over-year basis. As a group, equities analysts anticipate that Innospec will post 6.18 earnings per share for the current fiscal year.

Innospec Announces Dividend

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

Analyst Ratings Changes

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

Insiders Place Their Bets

In related news, Director Leslie J. Parrette acquired 340 shares of the company’s stock in a transaction on Friday, November 14th. The stock was purchased at an average cost 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 of the company’s stock, valued at $432,463.33. The trade was a 6.19% increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. 1.31% of the stock is owned by company insiders.

Institutional Investors Weigh In On Innospec

A number of institutional investors have recently modified their holdings of IOSP. Allspring Global Investments Holdings LLC boosted its holdings in Innospec by 3.3% in the 2nd quarter. Allspring Global Investments Holdings LLC now owns 2,483,185 shares of the specialty chemicals company’s stock valued at $216,211,000 after purchasing an additional 78,360 shares during the period. Geode Capital Management LLC raised its stake in Innospec by 2.1% in the second quarter. Geode Capital Management LLC now owns 719,598 shares of the specialty chemicals company’s stock valued at $60,517,000 after purchasing an additional 14,463 shares in the last quarter. Millennium Management LLC raised its stake in Innospec by 37.6% in the third quarter. Millennium Management LLC now owns 481,488 shares of the specialty chemicals company’s stock valued at $37,152,000 after purchasing an additional 131,483 shares in the last quarter. Brown Advisory Inc. lifted its position in Innospec by 29.5% during the second quarter. Brown Advisory Inc. now owns 426,544 shares of the specialty chemicals company’s stock worth $35,868,000 after purchasing an additional 97,129 shares during the period. Finally, Westwood Holdings Group Inc. grew its stake in Innospec by 7.8% during the second quarter. Westwood Holdings Group Inc. now owns 412,310 shares of the specialty chemicals company’s stock worth $34,671,000 after buying an additional 29,900 shares in the last quarter. Institutional investors own 96.64% of the company’s stock.

Innospec Company Profile

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.