Innospec (NASDAQ:IOSP) Announces Earnings Results, Beats Expectations By $0.02 EPS

Innospec (NASDAQ:IOSP) posted its quarterly earnings data on Tuesday. The specialty chemicals company reported $1.39 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.37 by $0.02, Briefing.com reports. The firm had revenue of $435.00 million for 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 business’s revenue for the quarter was down 9.5% compared to the same quarter last year. During the same period in the previous year, the firm earned $1.28 EPS.

Innospec Stock Down 9.5 %

Innospec stock traded down $11.22 during mid-day trading on Wednesday, reaching $107.04. 149,850 shares of the company’s stock were exchanged, compared to its average volume of 103,273. Innospec has a one year low of $95.69 and a one year high of $133.71. The firm has a market capitalization of $2.67 billion, a PE ratio of 18.47 and a beta of 1.10. The business’s fifty day simple moving average is $125.35 and its 200 day simple moving average is $124.30.

Innospec Dividend Announcement

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

Analyst Ratings Changes

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

Insider Buying and Selling at Innospec

In other Innospec news, SVP Hardy Louis Griffin III sold 525 shares of the business’s stock in a transaction that occurred on Monday, May 20th. The shares were 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 owns 4,523 shares of the company’s stock, valued at approximately $586,994.94. The transaction was disclosed in a filing with the SEC, which is available through this link. Corporate insiders own 1.52% of the company’s stock.

About Innospec

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.