Innospec (NASDAQ:IOSP) Issues Earnings Results

Innospec (NASDAQ:IOSP) issued its quarterly earnings data on Tuesday. The specialty chemicals company reported $1.39 earnings per share for the quarter, topping analysts’ consensus estimates of $1.37 by $0.02, Briefing.com reports. The business had revenue of $435.00 million during the quarter, compared to the consensus estimate of $468.73 million. Innospec had a net margin of 7.60% and a return on equity of 14.22%. The company’s revenue was down 9.5% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $1.28 earnings per share.

Innospec Trading Down 9.5 %

IOSP traded down $11.22 during trading hours on Wednesday, hitting $107.04. 149,850 shares of the company’s stock were exchanged, compared to its average volume of 103,273. The firm has a market cap of $2.67 billion, a P/E ratio of 18.47 and a beta of 1.10. Innospec has a 12-month low of $95.69 and a 12-month high of $133.71. The firm has a 50 day moving average of $125.35 and a 200 day moving average of $124.30.

Innospec Dividend Announcement

The firm also recently disclosed a Semi-Annual dividend, which was paid on Friday, May 31st. Stockholders of record on Monday, May 20th were paid a $0.72 dividend. This represents a dividend yield of 1.2%. The ex-dividend date of this dividend was Friday, May 17th. Innospec’s payout ratio is 25.81%.

Analysts Set New Price Targets

Separately, StockNews.com raised Innospec from a “buy” rating to a “strong-buy” rating in a report on Friday, May 10th.

Insider Buying and Selling at Innospec

In related news, SVP Hardy Louis Griffin III sold 525 shares of the company’s stock in a transaction that occurred on Monday, May 20th. The stock was sold at an average price of $129.78, for a total value of $68,134.50. Following the completion of the transaction, the senior vice president now directly owns 4,523 shares of the company’s stock, valued at $586,994.94. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. 1.52% of the stock is currently owned by corporate insiders.

Innospec Company Profile

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.