Innospec FY2024 EPS Estimate Decreased by Seaport Res Ptn

Innospec Inc. (NASDAQ:IOSP - Free Report) - Equities research analysts at Seaport Res Ptn decreased their FY2024 earnings per share estimates for Innospec in a research report issued to clients and investors on Wednesday, January 22nd. Seaport Res Ptn analyst M. Harrison now expects that the specialty chemicals company will post earnings of $5.88 per share for the year, down from their prior estimate of $5.89. The consensus estimate for Innospec's current full-year earnings is $5.88 per share.

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

Separately, StockNews.com lowered Innospec from a "strong-buy" rating to a "buy" rating in a research report on Saturday, January 11th.

Innospec Stock Down 0.9 %

IOSP stock traded down $1.02 during trading on Friday, hitting $114.43. 97,380 shares of the company's stock traded hands, compared to its average volume of 100,379. The firm has a market capitalization of $2.85 billion, a P/E ratio of 19.97 and a beta of 1.09. Innospec has a 1 year low of $103.65 and a 1 year high of $133.71. The business has a fifty day simple moving average of $113.64 and a two-hundred day simple moving average of $114.62.

Innospec Increases Dividend

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

Insider Buying and Selling at Innospec

In other Innospec news, Director Milton C. Blackmore sold 1,035 shares of the firm'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 completion of the sale, the director now owns 9,028 shares of the company's stock, valued at approximately $1,109,721.76. This trade represents a 10.29 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 1.52% of the stock is owned by insiders.

Hedge Funds Weigh In On Innospec

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Pacer Advisors Inc. acquired a new position in shares of Innospec in the fourth quarter valued at about $53,457,000. KBC Group NV boosted its position in Innospec by 82.3% in the fourth quarter. KBC Group NV now owns 1,236 shares of the specialty chemicals company's stock valued at $136,000 after buying an additional 558 shares during the last quarter. Blue Trust Inc. increased its holdings in Innospec by 54.2% in the 4th quarter. Blue Trust Inc. now owns 1,201 shares of the specialty chemicals company's stock worth $136,000 after buying an additional 422 shares during the period. Ballentine Partners LLC raised its position in Innospec by 11.0% during the 4th quarter. Ballentine Partners LLC now owns 2,968 shares of the specialty chemicals company's stock worth $327,000 after buying an additional 295 shares during the last quarter. Finally, ZWJ Investment Counsel Inc. lifted its stake in Innospec by 0.6% during the 4th quarter. ZWJ Investment Counsel Inc. now owns 43,426 shares of the specialty chemicals company's stock valued at $4,779,000 after acquiring an additional 279 shares during the period. Hedge funds and other institutional investors own 96.64% of the company's stock.

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.