Innospec (NASDAQ:IOSP) Announces Earnings Results, Meets Estimates

Innospec (NASDAQ:IOSP) issued its quarterly earnings data on Tuesday. The specialty chemicals company reported $1.35 earnings per share for the quarter, meeting analysts’ consensus estimates of $1.35, Briefing.com reports. Innospec had a return on equity of 14.15% and a net margin of 7.90%. The firm had revenue of $443.40 million during the quarter, compared to analyst estimates of $442.13 million. During the same quarter last year, the firm earned $1.59 EPS. Innospec’s quarterly revenue was down 4.5% on a year-over-year basis.

Innospec Stock Performance

NASDAQ:IOSP opened at $120.00 on Friday. The company has a market capitalization of $2.99 billion, a price-to-earnings ratio of 20.10 and a beta of 1.08. Innospec has a one year low of $100.50 and a one year high of $133.71. The stock has a 50-day simple moving average of $111.48 and a 200 day simple moving average of $118.83.

Innospec Increases Dividend

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

Insider Buying and Selling at Innospec

In other news, CFO Ian Cleminson sold 3,398 shares of Innospec stock in a transaction that occurred on 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 transaction, the chief financial officer now owns 12,996 shares in the company, valued at approximately $1,491,161.04. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 1.35% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

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

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.