Innospec (NASDAQ:IOSP) Sets New 12-Month Low – What’s Next?

Shares of Innospec Inc. (NASDAQ:IOSP) hit a new 52-week low on Monday . The company traded as low as $99.21 and last traded at $99.26, with a volume of 134611 shares trading hands. The stock had previously closed at $103.41.

Analysts Set New Price Targets

Separately, StockNews.com downgraded Innospec from a “buy” rating to a “hold” rating in a research note on Wednesday, February 26th.

Innospec Stock Down 3.9 %

The firm has a market capitalization of $2.48 billion, a PE ratio of 70.00 and a beta of 1.09. The business’s 50-day moving average price is $110.06 and its 200-day moving average price is $112.32.

Innospec (NASDAQ:IOSP) last released its earnings results on Tuesday, February 18th. The specialty chemicals company reported $1.41 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.36 by $0.05. Innospec had a net margin of 1.93% and a return on equity of 12.27%. The company had revenue of $466.80 million during the quarter, compared to the consensus estimate of $447.43 million. On average, analysts anticipate that Innospec Inc. will post 6.18 EPS for the current fiscal year.

Insider Activity at Innospec

In related news, VP Philip John Boon sold 3,754 shares of the firm’s stock in a transaction that occurred on Friday, February 21st. The shares were sold at an average price of $103.30, for a total transaction of $387,788.20. Following the transaction, the vice president now owns 20,079 shares of the company’s stock, valued at approximately $2,074,160.70. This trade represents a 15.75 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, SVP Corbin Barnes sold 598 shares of Innospec stock in a transaction that occurred on Monday, February 24th. The shares were sold at an average price of $103.06, for a total transaction of $61,629.88. Following the completion of the sale, the senior vice president now owns 8,051 shares of the company’s stock, valued at $829,736.06. This trade represents a 6.91 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 7,696 shares of company stock valued at $794,853. Insiders own 1.52% of the company’s stock.

Institutional Investors Weigh In On Innospec

A number of large investors have recently bought and sold shares of the business. Murphy & Mullick Capital Management Corp acquired a new stake in shares of Innospec in the fourth quarter worth about $106,000. Covestor Ltd increased its holdings in shares of Innospec by 13.9% during the 4th quarter. Covestor Ltd now owns 967 shares of the specialty chemicals company’s stock valued at $106,000 after acquiring an additional 118 shares during the last quarter. Blue Trust Inc. raised its stake in shares of Innospec by 54.2% in the 4th quarter. Blue Trust Inc. now owns 1,201 shares of the specialty chemicals company’s stock valued at $136,000 after acquiring an additional 422 shares in the last quarter. KBC Group NV lifted its holdings in Innospec by 82.3% in the 4th quarter. KBC Group NV now owns 1,236 shares of the specialty chemicals company’s stock worth $136,000 after purchasing an additional 558 shares during the last quarter. Finally, Smartleaf Asset Management LLC boosted its position in Innospec by 91.9% during the fourth quarter. Smartleaf Asset Management LLC now owns 1,802 shares of the specialty chemicals company’s stock worth $198,000 after purchasing an additional 863 shares during the period. 96.64% of the stock is currently owned by institutional investors.

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.