Q4 Earnings Estimate for Innospec Issued By Seaport Res Ptn

Innospec Inc. (NASDAQ:IOSP - Free Report) - Seaport Res Ptn lowered their Q4 2024 EPS estimates for Innospec in a note issued to investors on Wednesday, November 6th. Seaport Res Ptn analyst M. Harrison now anticipates that the specialty chemicals company will post earnings per share of $1.38 for the quarter, down from their prior forecast of $1.41. The consensus estimate for Innospec's current full-year earnings is $5.92 per share. Seaport Res Ptn also issued estimates for Innospec's FY2025 earnings at $5.98 EPS and FY2026 earnings at $7.01 EPS.

Innospec (NASDAQ:IOSP - Get Free Report) last released its quarterly earnings results on Tuesday, November 5th. The specialty chemicals company reported $1.35 earnings per share for the quarter, meeting analysts' consensus estimates 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 analyst estimates of $442.13 million. During the same period last year, the business earned $1.59 EPS. The business's 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 report on Thursday, August 8th.

Innospec Stock Up 1.4 %

Shares of Innospec stock traded up $1.65 during trading hours on Friday, hitting $121.65. 231,905 shares of the company's stock traded hands, compared to its average volume of 84,304. Innospec has a twelve month low of $100.50 and a twelve month high of $133.71. The company has a market cap of $3.03 billion, a PE ratio of 21.23 and a beta of 1.08. The stock has a 50 day simple moving average of $111.61 and a 200-day simple moving average of $118.83.

Hedge Funds Weigh In On Innospec

Several institutional investors have recently made changes to their positions in the stock. Vanguard Group Inc. lifted its position 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 valued at $401,670,000 after purchasing an additional 161,249 shares during the last quarter. Allspring Global Investments Holdings LLC increased its stake in shares of Innospec by 4.6% in the third quarter. Allspring Global Investments Holdings LLC now owns 2,405,770 shares of the specialty chemicals company's stock valued at $272,069,000 after purchasing an additional 105,311 shares during the period. Royce & Associates LP raised its holdings in shares of Innospec by 9.3% during the third quarter. Royce & Associates LP now owns 835,333 shares of the specialty chemicals company's stock valued at $94,468,000 after buying an additional 70,902 shares during the last quarter. Assenagon Asset Management S.A. boosted its position in shares of Innospec by 98.4% during the second quarter. Assenagon Asset Management S.A. now owns 120,082 shares of the specialty chemicals company's stock worth $14,841,000 after buying an additional 59,554 shares during the period. Finally, Gendell Jeffrey L bought a new position in Innospec in the 1st quarter worth approximately $7,090,000. 96.64% of the stock is owned by institutional investors.

Insider Buying and Selling at Innospec

In other news, CFO Ian Cleminson sold 3,398 shares of the stock in a transaction dated Monday, August 26th. The shares were sold at an average price of $114.74, for a total transaction of $389,886.52. Following the transaction, the chief financial officer now owns 12,996 shares of the company's stock, valued at approximately $1,491,161.04. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 1.52% of the stock is currently owned by insiders.

Innospec Increases Dividend

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

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.