Innospec (NASDAQ:IOSP) Reaches New 52-Week Low – Time to Sell?

Shares of Innospec Inc. (NASDAQ:IOSP) reached a new 52-week low during trading on Wednesday . The company traded as low as $102.29 and last traded at $101.55, with a volume of 8113 shares trading hands. The stock had previously closed at $109.88.

Wall Street Analysts Forecast Growth

Separately, StockNews.com cut Innospec from a “strong-buy” rating to a “buy” rating in a report on Saturday, January 11th.

Innospec Price Performance

The company has a market cap of $2.51 billion, a price-to-earnings ratio of 17.59 and a beta of 1.09. The stock has a 50 day simple moving average of $111.79 and a two-hundred day simple moving average of $112.74.

Innospec (NASDAQ:IOSP) last announced its quarterly earnings data on Tuesday, February 18th. The specialty chemicals company reported $1.41 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.36 by $0.05. Innospec had a net margin of 7.68% and a return on equity of 13.33%. The firm had revenue of $466.80 million during the quarter, compared to analyst estimates of $447.43 million. As a group, research analysts forecast that Innospec Inc. will post 5.87 EPS for the current year.

Institutional Trading of Innospec

Hedge funds and other institutional investors have recently made changes to their positions in the company. US Bancorp DE increased its stake in Innospec by 323.6% during the third quarter. US Bancorp DE now owns 5,490 shares of the specialty chemicals company’s stock worth $621,000 after acquiring an additional 4,194 shares during the last quarter. Charles Schwab Investment Management Inc. grew its holdings in shares of Innospec by 3.5% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 336,522 shares of the specialty chemicals company’s stock worth $38,057,000 after purchasing an additional 11,479 shares during the period. JPMorgan Chase & Co. increased its position in shares of Innospec by 24.6% during the 3rd 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 last quarter. HighTower Advisors LLC raised its holdings in Innospec by 5.2% in the 3rd quarter. HighTower Advisors LLC now owns 3,103 shares of the specialty chemicals company’s stock valued at $350,000 after buying an additional 154 shares during the period. Finally, Citigroup Inc. lifted its position in Innospec by 46.1% in the third quarter. Citigroup Inc. now owns 32,193 shares of the specialty chemicals company’s stock valued at $3,641,000 after buying an additional 10,162 shares during the last quarter. 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.