Seaport Res Ptn Forecasts Stronger Earnings for Innospec

Innospec Inc. (NASDAQ:IOSP - Free Report) - Analysts at Seaport Res Ptn increased their FY2024 earnings per share (EPS) estimates for Innospec in a research note issued on Wednesday, November 6th. Seaport Res Ptn analyst M. Harrison now forecasts that the specialty chemicals company will earn $5.89 per share for the year, up from their prior estimate 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.

Innospec (NASDAQ:IOSP - Get Free Report) last issued its quarterly earnings results on Tuesday, November 5th. The specialty chemicals company reported $1.35 earnings per share (EPS) for the quarter, hitting analysts' consensus estimates of $1.35. Innospec had a return on equity of 13.33% and a net margin of 7.68%. The business had revenue of $443.40 million for the quarter, compared to the consensus estimate of $442.13 million. During the same period in the prior year, the firm posted $1.59 earnings per share. The business's quarterly revenue was down 4.5% on a year-over-year basis.

Separately, StockNews.com downgraded Innospec from a "strong-buy" rating to a "buy" rating in a research report on Thursday, August 8th.

Innospec Stock Performance

Shares of NASDAQ IOSP traded up $2.73 during mid-day trading on Monday, hitting $124.38. The stock had a trading volume of 241,409 shares, compared to its average volume of 108,726. The company has a 50 day moving average of $111.79 and a two-hundred day moving average of $118.81. Innospec has a twelve month low of $100.77 and a twelve month high of $133.71. The firm has a market cap of $3.10 billion, a PE ratio of 21.71 and a beta of 1.08.

Innospec Increases Dividend

The firm also recently declared a Semi-Annual dividend, which will be paid on Tuesday, November 26th. Shareholders of record on Monday, November 18th will be issued a $0.79 dividend. This represents a yield of 1.3%. This is a positive change from Innospec's previous Semi-Annual dividend of $0.72. The ex-dividend date of this dividend is Monday, November 18th. Innospec's dividend payout ratio is presently 26.53%.

Insider Buying and Selling at Innospec

In other Innospec news, CFO Ian Cleminson sold 3,398 shares of the company's stock in a transaction on Monday, August 26th. The shares were sold at an average price of $114.74, for a total value of $389,886.52. Following the sale, the chief financial officer now directly owns 12,996 shares of the company's stock, valued at approximately $1,491,161.04. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 1.52% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Innospec

Several hedge funds have recently modified their holdings of the company. Intech Investment Management LLC boosted its stake in shares of Innospec by 98.1% during the 3rd quarter. Intech Investment Management LLC now owns 6,500 shares of the specialty chemicals company's stock worth $735,000 after acquiring an additional 3,219 shares in the last quarter. Moran Wealth Management LLC boosted its stake in shares of Innospec by 1.2% during the 3rd quarter. Moran Wealth Management LLC now owns 47,612 shares of the specialty chemicals company's stock worth $5,384,000 after acquiring an additional 545 shares in the last quarter. Connor Clark & Lunn Investment Management Ltd. purchased a new stake in shares of Innospec during the 3rd quarter worth about $254,000. B. Metzler seel. Sohn & Co. Holding AG purchased a new stake in shares of Innospec during the 3rd quarter worth about $3,726,000. Finally, Thrivent Financial for Lutherans boosted its stake in shares of Innospec by 0.3% during the 3rd quarter. Thrivent Financial for Lutherans now owns 59,602 shares of the specialty chemicals company's stock worth $6,740,000 after acquiring an additional 195 shares in the last quarter. 96.64% of the stock is owned by hedge funds and other 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.