FY2024 EPS Estimates for Innospec Lifted by Seaport Res Ptn

Innospec Inc. (NASDAQ:IOSP) – Research analysts at Seaport Res Ptn increased their FY2024 EPS estimates for shares of Innospec in a research report issued to clients and investors on Wednesday, November 6th. Seaport Res Ptn analyst M. Harrison now forecasts that the specialty chemicals company will post earnings per share of $5.89 for the year, up from their prior forecast of $5.86. The consensus estimate for Innospec’s current full-year earnings is $5.88 per share. Seaport Res Ptn also issued estimates for Innospec’s Q1 2025 earnings at $1.36 EPS, Q2 2025 earnings at $1.41 EPS, Q3 2025 earnings at $1.53 EPS and Q4 2025 earnings at $1.68 EPS.

Separately, StockNews.com cut shares of Innospec from a “strong-buy” rating to a “buy” rating in a research note on Thursday, August 8th.

Innospec Trading Down 2.0 %

Shares of NASDAQ IOSP opened at $121.93 on Monday. Innospec has a 12 month low of $100.77 and a 12 month high of $133.71. The company has a 50 day simple moving average of $111.99 and a two-hundred day simple moving average of $118.82. The stock has a market cap of $3.04 billion, a price-to-earnings ratio of 21.28 and a beta of 1.08.

Innospec (NASDAQ:IOSP) last announced its quarterly earnings data on Tuesday, November 5th. The specialty chemicals company reported $1.35 EPS for the quarter, meeting the consensus estimate of $1.35. Innospec had a net margin of 7.68% and a return on equity of 13.33%. The business had revenue of $443.40 million during the quarter, compared to analysts’ expectations of $442.13 million. During the same period in the previous year, the business posted $1.59 EPS. The business’s quarterly revenue was down 4.5% compared to the same quarter last year.

Hedge Funds Weigh In On Innospec

Institutional investors have recently made changes to their positions in the company. Assenagon Asset Management S.A. increased its holdings in shares of Innospec by 98.4% during the 2nd quarter. Assenagon Asset Management S.A. now owns 120,082 shares of the specialty chemicals company’s stock valued at $14,841,000 after purchasing an additional 59,554 shares in the last quarter. BNP Paribas Financial Markets increased its holdings in Innospec by 33.1% in the 1st quarter. BNP Paribas Financial Markets now owns 25,063 shares of the specialty chemicals company’s stock worth $3,232,000 after acquiring an additional 6,237 shares in the last quarter. Vanguard Group Inc. increased its holdings in Innospec by 5.5% in the 1st quarter. Vanguard Group Inc. now owns 3,115,167 shares of the specialty chemicals company’s stock worth $401,670,000 after acquiring an additional 161,249 shares in the last quarter. Sei Investments Co. increased its holdings in Innospec by 4.9% in the 1st quarter. Sei Investments Co. now owns 138,788 shares of the specialty chemicals company’s stock worth $17,895,000 after acquiring an additional 6,532 shares in the last quarter. Finally, US Bancorp DE increased its holdings in Innospec by 323.6% in the 3rd quarter. US Bancorp DE now owns 5,490 shares of the specialty chemicals company’s stock worth $621,000 after acquiring an additional 4,194 shares in the last quarter. 96.64% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In other news, CFO Ian Cleminson sold 3,398 shares of Innospec stock in a transaction that occurred on Monday, August 26th. The shares were sold at an average price of $114.74, for a total transaction of $389,886.52. Following the completion of the transaction, the chief financial officer now directly owns 12,996 shares of the company’s stock, valued at $1,491,161.04. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Insiders own 1.52% of the company’s stock.

Innospec Increases Dividend

The company also recently announced a Semi-Annual dividend, which will be paid on Tuesday, November 26th. Stockholders of record on Monday, November 18th will be issued a dividend of $0.79 per share. This represents a dividend yield of 1.3%. This is a positive change from Innospec’s previous Semi-Annual dividend of $0.72. The ex-dividend date is Monday, November 18th. Innospec’s payout ratio is 27.57%.

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.