StockNews.com Downgrades Innospec (NASDAQ:IOSP) to Buy

Innospec (NASDAQ:IOSP) was downgraded by investment analysts at StockNews.com from a “strong-buy” rating to a “buy” rating in a report released on Saturday.

Innospec Price Performance

IOSP opened at $105.21 on Friday. The company has a market capitalization of $2.62 billion, a PE ratio of 18.36 and a beta of 1.09. Innospec has a fifty-two week low of $103.65 and a fifty-two week high of $133.71. The business has a 50-day moving average of $114.83 and a 200-day moving average of $115.19.

Innospec (NASDAQ:IOSP) last posted its earnings results on Tuesday, November 5th. The specialty chemicals company reported $1.35 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $1.35. The firm had revenue of $443.40 million during the quarter, compared to analysts’ expectations of $442.13 million. Innospec had a net margin of 7.68% and a return on equity of 13.33%. The company’s revenue was down 4.5% compared to the same quarter last year. During the same period in the previous year, the company earned $1.59 earnings per share. On average, equities research analysts expect that Innospec will post 5.88 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, Director Milton C. Blackmore sold 1,035 shares of Innospec stock in a transaction that occurred on Wednesday, November 13th. The shares were sold at an average price of $122.92, for a total value of $127,222.20. Following the transaction, the director now owns 9,028 shares of the company’s stock, valued at $1,109,721.76. This trade represents a 10.29 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Insiders own 1.52% of the company’s stock.

Institutional Trading of Innospec

Several large investors have recently modified their holdings of the company. Diversified Trust Co lifted its position in Innospec by 9.5% during the 4th quarter. Diversified Trust Co now owns 3,543 shares of the specialty chemicals company’s stock worth $390,000 after acquiring an additional 306 shares during the last quarter. JPMorgan Chase & Co. increased its stake in shares of Innospec by 24.6% in the third quarter. JPMorgan Chase & Co. now owns 266,688 shares of the specialty chemicals company’s stock worth $30,160,000 after purchasing an additional 52,640 shares during the period. Franklin Resources Inc. lifted its position in shares of Innospec by 8.6% during the 3rd quarter. Franklin Resources Inc. now owns 27,282 shares of the specialty chemicals company’s stock worth $3,116,000 after purchasing an additional 2,154 shares during the last quarter. Sanctuary Advisors LLC boosted its stake in Innospec by 63.6% during the 3rd quarter. Sanctuary Advisors LLC now owns 3,152 shares of the specialty chemicals company’s stock valued at $377,000 after purchasing an additional 1,225 shares during the period. Finally, Geode Capital Management LLC grew its holdings in Innospec by 3.8% in the 3rd quarter. Geode Capital Management LLC now owns 677,283 shares of the specialty chemicals company’s stock valued at $76,606,000 after buying an additional 24,843 shares during the last quarter. 96.64% of the stock is owned by institutional investors.

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.