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

Innospec Inc. (NASDAQ:IOSP)’s stock price passed above its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of $78.84 and traded as high as $83.22. Innospec shares last traded at $83.02, with a volume of 142,361 shares changing hands.

Wall Street Analysts Forecast Growth

Several research firms have commented on IOSP. Wall Street Zen cut shares of Innospec from a “buy” rating to a “hold” rating in a research report on Saturday, June 27th. Weiss Ratings raised Innospec from a “sell (d+)” rating to a “hold (c-)” rating in a report on Wednesday, July 1st. Finally, Zacks Research upgraded Innospec from a “strong sell” rating to a “hold” rating in a research report on Friday, April 24th. Two equities research analysts have rated the stock with a Hold rating, Based on data from MarketBeat, the stock currently has a consensus rating of “Hold”.

Innospec Price Performance

The business has a fifty day moving average price of $81.57 and a 200 day moving average price of $78.84. The company has a market capitalization of $2.04 billion, a price-to-earnings ratio of 18.09, a price-to-earnings-growth ratio of 2.27 and a beta of 0.93.

Innospec (NASDAQ:IOSP) last posted its quarterly earnings data on Friday, May 8th. The specialty chemicals company reported $1.05 earnings per share for the quarter, topping the consensus estimate of $1.02 by $0.03. The business had revenue of $453.20 million during the quarter, compared to the consensus estimate of $432.14 million. Innospec had a net margin of 6.38% and a return on equity of 9.32%. The company’s quarterly revenue was up 2.8% compared to the same quarter last year. During the same quarter in the prior year, the company posted $1.42 earnings per share. Research analysts anticipate that Innospec Inc. will post 4.8 earnings per share for the current year.

Innospec Dividend Announcement

The business also recently declared a dividend, which was paid on Friday, May 29th. Stockholders of record on Tuesday, May 19th were paid a $0.92 dividend. This represents a dividend yield of 239.0%. The ex-dividend date of this dividend was Tuesday, May 19th. Innospec’s dividend payout ratio is currently 40.09%.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in IOSP. EverSource Wealth Advisors LLC increased its stake in shares of Innospec by 1,159.5% during the second quarter. EverSource Wealth Advisors LLC now owns 529 shares of the specialty chemicals company’s stock valued at $44,000 after acquiring an additional 487 shares during the period. Hantz Financial Services Inc. boosted its stake in Innospec by 271.0% during the 4th quarter. Hantz Financial Services Inc. now owns 575 shares of the specialty chemicals company’s stock valued at $44,000 after purchasing an additional 420 shares in the last quarter. Allworth Financial LP boosted its stake in 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 acquired a new position in shares of Innospec during the 3rd quarter valued at $46,000. Finally, Caitong International Asset Management Co. Ltd increased its position in shares of Innospec by 316.4% during 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. Institutional investors and hedge funds own 96.64% of the company’s stock.

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.