Innospec (NASDAQ:IOSP) Stock Price Passes Above 200 Day Moving Average – What’s Next?

Shares of Innospec Inc. (NASDAQ:IOSP) passed above its two hundred day moving average during trading on Thursday . The stock has a two hundred day moving average of $79.59 and traded as high as $82.36. Innospec shares last traded at $81.89, with a volume of 132,046 shares changing hands.

Wall Street Analyst Weigh In

A number of brokerages have weighed in on IOSP. Wall Street Zen upgraded Innospec from a “hold” rating to a “buy” rating in a report on Saturday, December 13th. Zacks Research upgraded Innospec from a “strong sell” rating to a “hold” rating in a research report on Tuesday, January 6th. Finally, Weiss Ratings reiterated a “sell (d+)” rating on shares of Innospec in a report on Monday, December 22nd. One research analyst has rated the stock with a Strong Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, Innospec presently has a consensus rating of “Hold”.

Innospec Trading Up 1.3%

The business has a 50-day moving average of $76.47 and a 200 day moving average of $79.59. The firm has a market capitalization of $2.03 billion, a P/E ratio of -2,729.67 and a beta of 0.91.

Innospec (NASDAQ:IOSP) last announced its quarterly earnings data on Wednesday, November 5th. The specialty chemicals company reported $1.12 EPS for the quarter, beating analysts’ consensus estimates of $1.03 by $0.09. The firm had revenue of $441.90 million during the quarter, compared to analysts’ expectations of $443.00 million. Innospec had a positive return on equity of 10.28% and a negative net margin of 0.07%.The company’s revenue for the quarter was down .3% compared to the same quarter last year. During the same quarter last year, the firm posted $1.35 earnings per share. As a group, research analysts forecast that Innospec Inc. will post 6.18 EPS for the current year.

Innospec Dividend Announcement

The firm also recently declared a dividend, which was paid on Wednesday, November 26th. Investors of record on Tuesday, November 18th were given a $0.87 dividend. The ex-dividend date of this dividend was Tuesday, November 18th. This represents a yield of 245.0%. Innospec’s dividend payout ratio (DPR) is presently -5,800.00%.

Insider Buying and Selling

In other Innospec news, Director Leslie J. Parrette acquired 340 shares of the stock in a transaction on Friday, November 14th. The shares were purchased at an average price of $74.09 per share, for a total transaction of $25,190.60. Following the completion of the acquisition, the director owned 5,837 shares in the company, valued at approximately $432,463.33. This represents a 6.19% increase in their position. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Company insiders own 1.31% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the business. Baird Financial Group Inc. increased its position in shares of Innospec by 11.5% during the first quarter. Baird Financial Group Inc. now owns 2,170 shares of the specialty chemicals company’s stock worth $206,000 after acquiring an additional 223 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its position in Innospec by 4.5% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 14,833 shares of the specialty chemicals company’s stock valued at $1,405,000 after acquiring an additional 645 shares in the last quarter. Millennium Management LLC boosted its stake in Innospec by 8,176.5% during the 1st quarter. Millennium Management LLC now owns 170,414 shares of the specialty chemicals company’s stock valued at $16,147,000 after purchasing an additional 168,355 shares during the last quarter. NewEdge Advisors LLC increased its holdings in Innospec by 37.4% during the 1st quarter. NewEdge Advisors LLC now owns 4,567 shares of the specialty chemicals company’s stock worth $433,000 after purchasing an additional 1,243 shares in the last quarter. Finally, Goldman Sachs Group Inc. increased its holdings in Innospec by 6.4% during the 1st quarter. Goldman Sachs Group Inc. now owns 132,399 shares of the specialty chemicals company’s stock worth $12,545,000 after purchasing an additional 8,014 shares in the last quarter. 96.64% of the stock is currently owned by institutional investors and hedge funds.

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.