Innospec (NASDAQ:IOSP) Sets New 12-Month Low – Should You Sell?

Innospec Inc. (NASDAQ:IOSP)’s share price hit a new 52-week low during trading on Tuesday . The company traded as low as $70.46 and last traded at $70.5550, with a volume of 27861 shares traded. The stock had previously closed at $72.23.

Analysts Set New Price Targets

IOSP has been the topic of a number of research analyst reports. Weiss Ratings cut shares of Innospec from a “hold (c-)” rating to a “sell (d+)” rating in a research note on Saturday, October 25th. Wall Street Zen lowered shares of Innospec from a “buy” rating to a “hold” rating in a research report on Sunday, October 19th. Finally, Zacks Research lowered Innospec from a “hold” rating to a “strong sell” rating in a report on Tuesday, November 4th. One investment analyst has rated the stock with a Strong Buy rating and two have given a Sell rating to the stock. According to MarketBeat.com, Innospec presently has a consensus rating of “Hold”.

Innospec Stock Down 1.9%

The firm has a fifty day moving average price of $76.80 and a two-hundred day moving average price of $82.58. The stock has a market capitalization of $1.76 billion, a P/E ratio of 91.04 and a beta of 1.06.

Innospec (NASDAQ:IOSP) last issued its earnings results on Wednesday, November 5th. The specialty chemicals company reported $1.12 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.03 by $0.09. The business had revenue of $441.90 million during the quarter, compared to analysts’ expectations of $443.00 million. Innospec had a net margin of 1.08% and a return on equity of 10.89%. The business’s revenue for the quarter was down .3% compared to the same quarter last year. During the same period in the previous year, the company earned $1.35 earnings per share. Sell-side analysts anticipate that Innospec Inc. will post 6.18 earnings per share for the current fiscal year.

Innospec Dividend Announcement

The company also recently declared a dividend, which will be paid on Wednesday, November 26th. Shareholders of record on Tuesday, November 18th will be issued a dividend of $0.87 per share. The ex-dividend date of this dividend is Tuesday, November 18th. This represents a yield of 246.0%. Innospec’s payout ratio is currently -5,800.00%.

Insider Activity

In other Innospec news, Director Leslie J. Parrette purchased 340 shares of the firm’s 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 completion of the acquisition, the director directly owned 5,837 shares in the company, valued at $432,463.33. The trade was a 6.19% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is available through the SEC website. 1.31% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Innospec

Large investors have recently made changes to their positions in the company. BNP PARIBAS ASSET MANAGEMENT Holding S.A. purchased a new stake in Innospec during the 2nd quarter valued at $28,000. Versant Capital Management Inc grew its stake in Innospec by 378.1% in the third quarter. Versant Capital Management Inc now owns 545 shares of the specialty chemicals company’s stock valued at $42,000 after purchasing an additional 431 shares during the last quarter. EverSource Wealth Advisors LLC boosted its holdings in Innospec by 1,159.5% in the second quarter. EverSource Wealth Advisors LLC now owns 529 shares of the specialty chemicals company’s stock worth $44,000 after acquiring an additional 487 shares in the last quarter. Blue Trust Inc. raised its holdings 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 during the last quarter. Finally, State of Wyoming increased its holdings in shares of Innospec by 27.5% in the second quarter. State of Wyoming now owns 801 shares of the specialty chemicals company’s stock valued at $67,000 after purchasing an additional 173 shares during the period. 96.64% of the stock is owned by institutional investors.

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.