Innospec (NASDAQ:IOSP) Stock Rating Upgraded by StockNews.com

StockNews.com upgraded shares of Innospec (NASDAQ:IOSP) from a buy rating to a strong-buy rating in a research note issued to investors on Friday morning.

Innospec Trading Up 1.2 %

Shares of Innospec stock opened at $108.90 on Friday. The firm has a market capitalization of $2.72 billion, a PE ratio of 19.01 and a beta of 1.09. The firm’s 50 day moving average is $115.08 and its 200 day moving average is $115.82. Innospec has a 1 year low of $103.97 and a 1 year high of $133.71.

Innospec (NASDAQ:IOSP) last announced its quarterly earnings results on Tuesday, November 5th. The specialty chemicals company reported $1.35 earnings per share (EPS) for the quarter, meeting the consensus estimate of $1.35. The company had revenue of $443.40 million for the quarter, compared to analyst estimates of $442.13 million. Innospec had a net margin of 7.68% and a return on equity of 13.33%. The firm’s revenue was down 4.5% on a year-over-year basis. During the same period in the previous year, the firm posted $1.59 EPS. As a group, research analysts anticipate that Innospec will post 5.88 earnings per share for the current year.

Innospec Increases Dividend

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

Insider Activity at Innospec

In related news, Director Milton C. Blackmore sold 1,035 shares of Innospec stock in a transaction that occurred on Wednesday, November 13th. The shares were sold at an average price of $122.92, for a total transaction of $127,222.20. Following the sale, the director now directly owns 9,028 shares in the company, valued at $1,109,721.76. This trade represents a 10.29 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 1.52% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Innospec

Several hedge funds have recently added to or reduced their stakes in IOSP. TD Asset Management Inc boosted its position in Innospec by 58.9% during the 2nd quarter. TD Asset Management Inc now owns 17,000 shares of the specialty chemicals company’s stock worth $2,101,000 after buying an additional 6,300 shares during the period. Arizona State Retirement System boosted its position in Innospec by 1.9% during the 2nd quarter. Arizona State Retirement System now owns 6,962 shares of the specialty chemicals company’s stock worth $860,000 after buying an additional 128 shares during the period. Los Angeles Capital Management LLC boosted its position in Innospec by 199.1% during the 2nd quarter. Los Angeles Capital Management LLC now owns 10,921 shares of the specialty chemicals company’s stock worth $1,350,000 after buying an additional 7,270 shares during the period. Quest Partners LLC boosted its position in Innospec by 2,699.6% during the 2nd quarter. Quest Partners LLC now owns 13,802 shares of the specialty chemicals company’s stock worth $1,706,000 after buying an additional 13,309 shares during the period. Finally, Texas Permanent School Fund Corp boosted its position in Innospec by 0.6% during the 2nd quarter. Texas Permanent School Fund Corp now owns 21,891 shares of the specialty chemicals company’s stock worth $2,706,000 after buying an additional 129 shares during the period. 96.64% of the stock is currently owned by institutional investors and hedge funds.

About Innospec

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.