Innospec (NASDAQ:IOSP) Reaches New 52-Week Low - Here's What Happened

Innospec Inc. (NASDAQ:IOSP - Get Free Report) hit a new 52-week low during trading on Friday . The stock traded as low as $103.71 and last traded at $105.98, with a volume of 11714 shares trading hands. The stock had previously closed at $106.62.

Wall Street Analyst Weigh In

Separately, StockNews.com raised Innospec from a "buy" rating to a "strong-buy" rating in a report on Friday, January 3rd.

Innospec Price Performance

The firm has a market capitalization of $2.62 billion, a PE ratio of 18.36 and a beta of 1.09. The firm has a fifty day moving average price of $114.89 and a 200 day moving average price of $115.38.

Innospec (NASDAQ:IOSP - Get Free Report) last announced its earnings results 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 return on equity of 13.33% and a net margin of 7.68%. The business had revenue of $443.40 million during the quarter, compared to the consensus estimate of $442.13 million. During the same period in the prior year, the business posted $1.59 earnings per share. Innospec's revenue was down 4.5% compared to the same quarter last year. On average, sell-side analysts expect that Innospec Inc. will post 5.88 EPS for the current year.

Innospec Increases Dividend

The firm also recently declared a Semi-Annual dividend, which was paid on Tuesday, November 26th. Investors of record on Monday, November 18th were given a dividend of $0.79 per share. 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 was Monday, November 18th. Innospec's payout ratio is presently 27.57%.

Insider Activity at Innospec

In other Innospec news, Director Milton C. Blackmore sold 1,035 shares of the company's stock in a transaction dated Wednesday, November 13th. The stock was sold at an average price of $122.92, for a total value of $127,222.20. Following the transaction, the director now directly owns 9,028 shares of the company's stock, valued at $1,109,721.76. This represents a 10.29 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. 1.35% of the stock is owned by insiders.

Institutional Inflows and Outflows

Several hedge funds have recently bought and sold shares of IOSP. Blue Trust Inc. increased its position in Innospec by 503.9% in the 3rd quarter. Blue Trust Inc. now owns 779 shares of the specialty chemicals company's stock worth $96,000 after purchasing an additional 650 shares during the last quarter. nVerses Capital LLC increased its position in Innospec by 200.0% in the 3rd quarter. nVerses Capital LLC now owns 900 shares of the specialty chemicals company's stock worth $102,000 after purchasing an additional 600 shares during the last quarter. Point72 DIFC Ltd acquired a new position in Innospec in the 2nd quarter worth about $184,000. Point72 Asset Management L.P. acquired a new position in Innospec in the 3rd quarter worth about $215,000. Finally, Sanctuary Advisors LLC acquired a new position in Innospec in the 2nd quarter worth about $233,000. 96.64% of the stock is owned by institutional investors and hedge funds.

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.