Innospec (NASDAQ:IOSP) Stock Rating Lowered by StockNews.com

StockNews.com downgraded shares of Innospec (NASDAQ:IOSP) from a buy rating to a hold rating in a research report released on Wednesday.

Innospec Stock Performance

Shares of Innospec stock opened at $103.57 on Wednesday. The firm has a fifty day moving average of $110.29 and a two-hundred day moving average of $112.31. The stock has a market capitalization of $2.59 billion, a price-to-earnings ratio of 72.94 and a beta of 1.09. Innospec has a 52 week low of $99.49 and a 52 week high of $133.71.

Innospec (NASDAQ:IOSP) last released its quarterly earnings data on Tuesday, February 18th. The specialty chemicals company reported $1.41 EPS for the quarter, beating 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 business had revenue of $466.80 million during the quarter, compared to analysts’ expectations of $447.43 million. As a group, research analysts forecast that Innospec will post 6.18 EPS for the current fiscal year.

Insider Buying and Selling

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

Institutional Investors Weigh In On Innospec

Hedge funds have recently bought and sold shares of the company. Blue Trust Inc. increased its holdings in shares of Innospec by 503.9% during the third quarter. Blue Trust Inc. now owns 779 shares of the specialty chemicals company’s stock worth $96,000 after purchasing an additional 650 shares during the period. Raymond James & Associates boosted its position in shares of Innospec by 10.0% during the 3rd quarter. Raymond James & Associates now owns 83,843 shares of the specialty chemicals company’s stock worth $9,482,000 after acquiring an additional 7,616 shares in the last quarter. New York State Teachers Retirement System boosted its position in shares of Innospec by 2.6% during the 3rd quarter. New York State Teachers Retirement System now owns 14,781 shares of the specialty chemicals company’s stock worth $1,672,000 after acquiring an additional 371 shares in the last quarter. US Bancorp DE boosted its position in shares of Innospec by 323.6% during the 3rd 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 in the last quarter. Finally, Leeward Investments LLC MA boosted its position in shares of Innospec by 22.4% during the 3rd quarter. Leeward Investments LLC MA now owns 86,004 shares of the specialty chemicals company’s stock worth $9,726,000 after acquiring an additional 15,750 shares in the last quarter. 96.64% of the stock is currently owned by institutional investors and hedge funds.

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.