Innospec (NASDAQ:IOSP) Share Price Crosses Above 200 Day Moving Average – Should You Sell?

Shares of Innospec Inc. (NASDAQ:IOSP) passed above its two hundred day moving average during trading on Tuesday . The stock has a two hundred day moving average of $78.33 and traded as high as $83.70. Innospec shares last traded at $81.84, with a volume of 179,235 shares trading hands.

Wall Street Analysts Forecast Growth

IOSP has been the subject of a number of research reports. Weiss Ratings downgraded Innospec from a “hold (c-)” rating to a “sell (d+)” rating in a report on Tuesday, June 16th. Zacks Research upgraded shares of Innospec from a “strong sell” rating to a “hold” rating in a report on Friday, April 24th. Finally, Wall Street Zen raised shares of Innospec from a “hold” rating to a “buy” rating in a research report on Saturday, June 6th. One equities research analyst has rated the stock with a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Reduce”.

Innospec Price Performance

The firm’s fifty day simple moving average is $79.70 and its 200 day simple moving average is $78.33. The company has a market capitalization of $2.02 billion, a PE ratio of 17.83, a price-to-earnings-growth ratio of 2.29 and a beta of 0.92.

Innospec (NASDAQ:IOSP) last released its quarterly earnings data on Friday, May 8th. The specialty chemicals company reported $1.05 earnings per share for the quarter, beating analysts’ consensus estimates of $1.02 by $0.03. The business had revenue of $453.20 million during the quarter, compared to analyst estimates of $432.14 million. Innospec had a return on equity of 9.32% and a net margin of 6.38%.The company’s revenue was up 2.8% on a year-over-year basis. During the same quarter last year, the business posted $1.42 EPS. On average, equities research analysts anticipate that Innospec Inc. will post 4.8 EPS for the current fiscal year.

Innospec Announces Dividend

The business also recently announced a dividend, which was paid on Friday, May 29th. Investors of record on Tuesday, May 19th were issued a dividend of $0.92 per share. This represents a yield of 239.0%. The ex-dividend date of this dividend was Tuesday, May 19th. Innospec’s dividend payout ratio (DPR) is 40.09%.

Institutional Inflows and Outflows

A number of large investors have recently bought and sold shares of the stock. Hantz Financial Services Inc. boosted its position in Innospec by 271.0% in the 4th quarter. Hantz Financial Services Inc. now owns 575 shares of the specialty chemicals company’s stock worth $44,000 after purchasing an additional 420 shares in the last quarter. EverSource Wealth Advisors LLC increased its holdings in shares of Innospec by 1,159.5% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 529 shares of the specialty chemicals company’s stock valued at $44,000 after purchasing an additional 487 shares in the last quarter. Allworth Financial LP increased its holdings in shares of Innospec by 31.0% during the 3rd quarter. Allworth Financial LP now owns 588 shares of the specialty chemicals company’s stock valued at $45,000 after purchasing an additional 139 shares in the last quarter. Danske Bank A S purchased a new position in shares of Innospec during the 3rd quarter valued at approximately $46,000. Finally, Caitong International Asset Management Co. Ltd lifted its stake in shares of Innospec by 316.4% in the 4th quarter. Caitong International Asset Management Co. Ltd now owns 662 shares of the specialty chemicals company’s stock valued at $51,000 after purchasing an additional 503 shares during the period. 96.64% of the stock is owned by institutional investors and hedge funds.

About Innospec

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.