Innospec Inc. (NASDAQ:IOSP) posted its earnings results on Tuesday. The specialty chemicals company reported $1.00 earnings per share for the quarter, beating the consensus estimate of $0.86 by $0.14. The company had revenue of $294.30 million for the quarter, compared to analyst estimates of $287 million. Innospec had a net margin of 10.17% and a return on equity of 15.53%. Innospec’s revenue was up 38.8% on a year-over-year basis. During the same period in the previous year, the business posted $0.93 EPS.
Innospec (NASDAQ:IOSP) traded up 0.82% during trading on Friday, reaching $61.80. 78,481 shares of the company’s stock traded hands. The firm has a 50 day moving average of $63.41 and a 200 day moving average of $65.69. Innospec has a 1-year low of $44.06 and a 1-year high of $74.75. The firm has a market capitalization of $1.49 billion, a PE ratio of 18.96 and a beta of 1.28.
The company also recently announced a semiannual dividend, which will be paid on Wednesday, May 31st. Shareholders of record on Monday, May 22nd will be issued a $0.38 dividend. The ex-dividend date is Thursday, May 18th. This represents a yield of 1.2%. Innospec’s payout ratio is 18.38%.
Separately, Zacks Investment Research upgraded shares of Innospec from a “hold” rating to a “strong-buy” rating and set a $73.00 target price on the stock in a report on Tuesday.
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In other Innospec news, CEO Patrick Williams sold 3,000 shares of the firm’s stock in a transaction dated Friday, March 17th. The shares were sold at an average price of $63.01, for a total transaction of $189,030.00. Following the sale, the chief executive officer now directly owns 200,265 shares of the company’s stock, valued at approximately $12,618,697.65. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. 2.56% of the stock is owned by company insiders.
Innospec Inc is a specialty chemicals company engaged in developing, manufacturing, blending, marketing and supplying of specialty chemicals for use as fuel additives and ingredients for personal care, home care, agrochemical, mining and other applications and oilfield chemicals. The Company operates through four business segments: Fuel Specialties, Performance Chemicals, Oilfield Services and Octane Additives.
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