Innospec (NASDAQ:IOSP – Get Free Report) was downgraded by equities research analysts at StockNews.com from a “strong-buy” rating to a “buy” rating in a research note issued on Thursday.
Innospec Stock Up 3.1 %
Shares of NASDAQ:IOSP traded up $3.32 during midday trading on Thursday, reaching $109.43. The company’s stock had a trading volume of 177,825 shares, compared to its average volume of 104,271. The firm has a market cap of $2.73 billion, a price-to-earnings ratio of 18.58 and a beta of 1.10. Innospec has a 1 year low of $95.69 and a 1 year high of $133.71. The business has a 50 day moving average price of $124.61 and a 200 day moving average price of $124.07.
Innospec (NASDAQ:IOSP – Get Free Report) last announced its quarterly earnings data on Tuesday, August 6th. The specialty chemicals company reported $1.39 EPS for the quarter, beating analysts’ consensus estimates of $1.37 by $0.02. Innospec had a return on equity of 14.22% and a net margin of 7.60%. The business had revenue of $435.00 million during the quarter, compared to the consensus estimate of $468.73 million. During the same quarter in the previous year, the business earned $1.28 earnings per share. The business’s revenue for the quarter was down 9.5% on a year-over-year basis. Sell-side analysts anticipate that Innospec will post 6.7 earnings per share for the current fiscal year.
Insider Activity at Innospec
Institutional Inflows and Outflows
Several institutional investors have recently modified their holdings of IOSP. TFO Wealth Partners LLC lifted its stake in shares of Innospec by 29,800.0% in the fourth quarter. TFO Wealth Partners LLC now owns 299 shares of the specialty chemicals company’s stock worth $37,000 after acquiring an additional 298 shares in the last quarter. GAMMA Investing LLC acquired a new position in shares of Innospec in the fourth quarter worth about $44,000. DekaBank Deutsche Girozentrale acquired a new position in shares of Innospec in the first quarter worth about $66,000. CWM LLC increased its holdings in Innospec by 239.6% in the second quarter. CWM LLC now owns 635 shares of the specialty chemicals company’s stock valued at $78,000 after buying an additional 448 shares during the last quarter. Finally, Motco bought a new stake in Innospec in the first quarter valued at about $132,000. Institutional investors and hedge funds own 96.64% of the company’s stock.
Innospec Company Profile
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.
Read More
- Five stocks we like better than Innospec
- Canada Bond Market Holiday: How to Invest and Trade
- Owens-Corning Stock: Good Value or Recession Red Flag?
- Investing in Commodities: What Are They? How to Invest in Them
- Datadog Exceeds Q2 Expectations, Solidifies Market Leadership
- How to Invest in Blue Chip Stocks
- Cybersecurity Stock Surges, Promising Double-Digit Gains
Receive News & Ratings for Innospec Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Innospec and related companies with MarketBeat.com's FREE daily email newsletter.