Innospec (NASDAQ:IOSP) Announces Quarterly Earnings Results, Hits Estimates

by · The Markets Daily

Innospec (NASDAQ:IOSP – Get Free Report) posted its earnings results on Tuesday. The specialty chemicals company reported $1.35 EPS for the quarter, hitting the consensus estimate of $1.35, Briefing.com reports. The company had revenue of $443.40 million during the quarter, compared to the consensus estimate of $442.13 million. Innospec had a net margin of 7.90% and a return on equity of 14.15%. The firm’s revenue for the quarter was down 4.5% on a year-over-year basis. During the same period in the previous year, the firm posted $1.59 earnings per share.

Innospec Price Performance

Shares of IOSP stock traded down $4.90 during trading hours on Thursday, hitting $120.00. The stock had a trading volume of 200,912 shares, compared to its average volume of 107,424. Innospec has a twelve month low of $100.50 and a twelve month high of $133.71. The stock’s 50 day moving average is $111.36 and its 200 day moving average is $118.83. The firm has a market capitalization of $2.99 billion, a PE ratio of 20.92 and a beta of 1.08.

Innospec Increases Dividend

The business also recently announced a Semi-Annual dividend, which will be paid on Tuesday, November 26th. Shareholders of record on Monday, November 18th will be given a $0.79 dividend. The ex-dividend date of this dividend is Monday, November 18th. This represents a yield of 1.3%. This is a boost from Innospec’s previous Semi-Annual dividend of $0.72. Innospec’s dividend payout ratio is presently 25.46%.

Wall Street Analyst Weigh In

Separately, StockNews.com downgraded shares of Innospec from a “strong-buy” rating to a “buy” rating in a research note on Thursday, August 8th.

View Our Latest Report on Innospec

Insiders Place Their Bets

In related news, CFO Ian Cleminson sold 3,398 shares of the stock in a transaction dated Monday, August 26th. The stock was sold at an average price of $114.74, for a total value of $389,886.52. Following the completion of 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 position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 1.35% of the stock is owned by corporate insiders.

Innospec Company Profile

(Get Free Report)

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.

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