Innospec (NASDAQ:IOSP) Upgraded by Wall Street Zen to “Buy” Rating

Wall Street Zen upgraded shares of Innospec (NASDAQ:IOSP) from a hold rating to a buy rating in a research note published on Saturday morning.

Several other research analysts also recently commented on the stock. Weiss Ratings upgraded shares of Innospec from a “sell (d+)” rating to a “hold (c-)” rating in a research report on Wednesday, July 1st. Zacks Research raised Innospec from a “strong sell” rating to a “hold” rating in a report on Friday, April 24th. Two equities research analysts have rated the stock with a Hold rating, Based on data from MarketBeat.com, Innospec has an average rating of “Hold”.

Innospec Stock Down 1.4%

IOSP stock opened at $84.25 on Friday. The company’s 50-day moving average price is $81.82 and its two-hundred day moving average price is $78.93. The firm has a market cap of $2.08 billion, a P/E ratio of 18.36, a P/E/G ratio of 2.32 and a beta of 0.93. Innospec has a 12 month low of $65.51 and a 12 month high of $92.14.

Innospec (NASDAQ:IOSP) last issued its quarterly earnings results on Friday, May 8th. The specialty chemicals company reported $1.05 earnings per share for the quarter, topping analysts’ consensus estimates of $1.02 by $0.03. The company had revenue of $453.20 million during the quarter, compared to the consensus estimate of $432.14 million. Innospec had a net margin of 6.38% and a return on equity of 9.32%. The firm’s quarterly revenue was up 2.8% on a year-over-year basis. During the same quarter in the prior year, the firm posted $1.42 EPS. Equities analysts predict that Innospec will post 4.84 EPS for the current year.

Innospec Dividend Announcement

The business also recently announced a dividend, which was paid on Friday, May 29th. Stockholders of record on Tuesday, May 19th were issued a $0.92 dividend. The ex-dividend date of this dividend was Tuesday, May 19th. This represents a dividend yield of 239.0%. Innospec’s dividend payout ratio is 40.09%.

Institutional Investors Weigh In On Innospec

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Allworth Financial LP increased its position in Innospec by 31.0% in the 3rd quarter. Allworth Financial LP now owns 588 shares of the specialty chemicals company’s stock valued at $45,000 after acquiring an additional 139 shares during the period. State of Wyoming raised its stake in shares of Innospec by 27.5% during the second quarter. State of Wyoming now owns 801 shares of the specialty chemicals company’s stock valued at $67,000 after acquiring an additional 173 shares during the last quarter. California State Teachers Retirement System raised its stake in shares of Innospec by 0.8% during the second quarter. California State Teachers Retirement System now owns 23,062 shares of the specialty chemicals company’s stock valued at $1,939,000 after acquiring an additional 179 shares during the last quarter. Franklin Resources Inc. lifted its holdings in shares of Innospec by 0.7% during the third quarter. Franklin Resources Inc. now owns 27,868 shares of the specialty chemicals company’s stock worth $2,150,000 after purchasing an additional 196 shares during the period. Finally, Amundi lifted its holdings in shares of Innospec by 5.0% during the third quarter. Amundi now owns 4,490 shares of the specialty chemicals company’s stock worth $354,000 after purchasing an additional 214 shares during the period. 96.64% of the stock is owned by institutional investors.

Innospec Company Profile

Innospec Incorporated (NASDAQ: IOSP) is a global specialty chemicals company headquartered in Cleveland, Ohio. The company operates through three principal business segments: Fuel Specialties, Oilfield Services, and Performance Chemicals. In the Fuel Specialties segment, Innospec develops and supplies additives designed to enhance octane levels, improve combustion efficiency, reduce emissions and prevent deposit formation in gasoline and diesel engines. Its Oilfield Services division provides chemical technologies—such as surfactants, corrosion inhibitors and demulsifiers—to support exploration, drilling, production optimization and enhanced oil recovery operations.