Innospec (NASDAQ:IOSP) Downgraded by StockNews.com

Innospec (NASDAQ:IOSP) 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) 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

In related news, SVP Hardy Louis Griffin III sold 525 shares of Innospec stock in a transaction on Monday, May 20th. The stock was sold at an average price of $129.78, for a total value of $68,134.50. Following the transaction, the senior vice president now owns 4,523 shares in the company, valued at $586,994.94. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 1.52% of the stock is owned by insiders.

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.