BidaskClub Lowers Innospec (IOSP) to Hold

BidaskClub downgraded shares of Innospec (NASDAQ:IOSP) from a buy rating to a hold rating in a research note released on Wednesday.

A number of other analysts have also recently commented on IOSP. Zacks Investment Research raised Innospec from a hold rating to a buy rating and set a $86.00 price target for the company in a research note on Tuesday, November 20th. ValuEngine cut Innospec from a buy rating to a hold rating in a research note on Friday, October 12th. Finally, KeyCorp lowered their price target on Innospec from $86.00 to $83.00 and set a buy rating for the company in a research note on Friday, November 16th. Two equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the company. The stock has a consensus rating of Buy and a consensus price target of $84.50.

Shares of IOSP stock opened at $73.74 on Wednesday. The company has a debt-to-equity ratio of 0.25, a current ratio of 2.27 and a quick ratio of 1.37. The stock has a market capitalization of $1.80 billion, a PE ratio of 15.72 and a beta of 1.10. Innospec has a one year low of $62.13 and a one year high of $83.20.

Innospec (NASDAQ:IOSP) last announced its quarterly earnings results on Tuesday, November 6th. The specialty chemicals company reported $1.20 EPS for the quarter, beating analysts’ consensus estimates of $1.06 by $0.14. The company had revenue of $363.10 million during the quarter, compared to analysts’ expectations of $362.50 million. Innospec had a return on equity of 14.02% and a net margin of 4.17%. Innospec’s revenue was up 9.2% on a year-over-year basis. During the same period in the prior year, the business posted $1.00 EPS. As a group, sell-side analysts expect that Innospec will post 4.55 earnings per share for the current fiscal year.

The business also recently declared a semiannual dividend, which was paid on Thursday, November 29th. Stockholders of record on Monday, November 19th were paid a $0.45 dividend. The ex-dividend date was Friday, November 16th. This represents a dividend yield of 1.18%. Innospec’s dividend payout ratio (DPR) is presently 19.31%.

Several institutional investors and hedge funds have recently modified their holdings of the stock. Commonwealth of Pennsylvania Public School Empls Retrmt SYS grew its position in shares of Innospec by 12.9% in the 3rd quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 5,829 shares of the specialty chemicals company’s stock valued at $447,000 after purchasing an additional 667 shares during the period. Strs Ohio grew its position in shares of Innospec by 10.0% in the 2nd quarter. Strs Ohio now owns 8,800 shares of the specialty chemicals company’s stock valued at $673,000 after purchasing an additional 800 shares during the period. United Services Automobile Association grew its position in shares of Innospec by 4.2% in the 3rd quarter. United Services Automobile Association now owns 21,311 shares of the specialty chemicals company’s stock valued at $1,636,000 after purchasing an additional 856 shares during the period. Rhumbline Advisers grew its position in shares of Innospec by 1.6% in the 2nd quarter. Rhumbline Advisers now owns 60,522 shares of the specialty chemicals company’s stock valued at $4,633,000 after purchasing an additional 975 shares during the period. Finally, BlueMountain Capital Management LLC grew its position in shares of Innospec by 30.5% in the 2nd quarter. BlueMountain Capital Management LLC now owns 4,594 shares of the specialty chemicals company’s stock valued at $352,000 after purchasing an additional 1,073 shares during the period. Institutional investors and hedge funds own 94.21% of the company’s stock.

About Innospec

Innospec Inc develops, manufactures, blends, markets, and supplies specialty chemicals for use as fuel additives, ingredients for personal care, home care, agrochemical, mining and other applications, and oilfield chemicals worldwide. It operates through four segments: Fuel Specialties, Performance Chemicals, Oilfield Services, and Octane Additives.

Further Reading: How are institutional investors different from individual investors?

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