Innospec (NASDAQ:IOSP) Stock Rating Lowered 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 report released on Wednesday.

Innospec Stock Down 0.2 %

Shares of Innospec stock opened at $109.17 on Wednesday. Innospec has a 12 month low of $103.97 and a 12 month high of $133.71. The stock has a market cap of $2.72 billion, a PE ratio of 19.05 and a beta of 1.09. The business has a fifty day simple moving average of $115.58 and a 200-day simple moving average of $117.09.

Innospec (NASDAQ:IOSP) last announced its quarterly earnings data on Tuesday, November 5th. The specialty chemicals company reported $1.35 EPS for the quarter, hitting analysts’ consensus estimates of $1.35. The firm had revenue of $443.40 million during the quarter, compared to analyst estimates of $442.13 million. Innospec had a return on equity of 13.33% and a net margin of 7.68%. The business’s quarterly revenue was down 4.5% compared to the same quarter last year. During the same period last year, the company posted $1.59 EPS. Analysts expect that Innospec will post 5.88 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, Director Milton C. Blackmore sold 1,035 shares of the company’s stock in a transaction 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 directly owns 9,028 shares of the company’s stock, valued at approximately $1,109,721.76. This represents a 10.29 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Insiders own 1.52% of the company’s stock.

Institutional Trading of Innospec

A number of institutional investors have recently bought and sold shares of IOSP. Allspring Global Investments Holdings LLC raised its stake in shares of Innospec by 4.6% during the 3rd quarter. Allspring Global Investments Holdings LLC now owns 2,405,770 shares of the specialty chemicals company’s stock worth $272,069,000 after purchasing an additional 105,311 shares in the last quarter. Wasatch Advisors LP increased its holdings in Innospec by 0.6% in the third quarter. Wasatch Advisors LP now owns 1,805,546 shares of the specialty chemicals company’s stock worth $204,189,000 after buying an additional 11,231 shares during the last quarter. State Street Corp raised its position in Innospec by 2.1% during the third quarter. State Street Corp now owns 996,281 shares of the specialty chemicals company’s stock valued at $112,669,000 after acquiring an additional 20,744 shares in the last quarter. Victory Capital Management Inc. lifted its stake in Innospec by 4.8% in the third quarter. Victory Capital Management Inc. now owns 908,032 shares of the specialty chemicals company’s stock valued at $102,689,000 after acquiring an additional 41,449 shares during the last quarter. Finally, Royce & Associates LP lifted its stake in Innospec by 9.3% in the third quarter. Royce & Associates LP now owns 835,333 shares of the specialty chemicals company’s stock valued at $94,468,000 after acquiring an additional 70,902 shares during the last quarter. Institutional investors and hedge funds own 96.64% of the company’s stock.

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.