Innospec Inc. (NASDAQ:IOSP) Short Interest Down 14.7% in September

Innospec Inc. (NASDAQ:IOSP) was the target of a significant decline in short interest in September. As of September 30th, there was short interest totalling 250,400 shares, a decline of 14.7% from the September 15th total of 293,400 shares. Approximately 1.0% of the shares of the stock are short sold. Based on an average daily volume of 128,500 shares, the days-to-cover ratio is presently 1.9 days.

Innospec Stock Performance

Shares of NASDAQ:IOSP traded up $1.85 during midday trading on Wednesday, hitting $116.12. 32,225 shares of the stock were exchanged, compared to its average volume of 108,540. The stock has a market capitalization of $2.90 billion, a price-to-earnings ratio of 19.71 and a beta of 1.07. The business’s 50-day moving average price is $110.88 and its 200 day moving average price is $120.24. Innospec has a 12 month low of $95.69 and a 12 month high of $133.71.

Innospec (NASDAQ:IOSP) last announced its earnings results on Tuesday, August 6th. The specialty chemicals company reported $1.39 EPS for the quarter, beating the consensus estimate of $1.37 by $0.02. Innospec had a return on equity of 14.15% and a net margin of 7.90%. The business had revenue of $435.00 million for the quarter, compared to analysts’ expectations of $468.73 million. During the same period in the prior year, the business posted $1.28 earnings per share. The firm’s revenue was down 9.5% on a year-over-year basis. As a group, sell-side analysts expect that Innospec will post 5.95 EPS for the current year.

Analysts Set New Price Targets

Separately, StockNews.com cut Innospec from a “strong-buy” rating to a “buy” rating in a report on Thursday, August 8th.

Insider Activity at Innospec

In other Innospec news, CFO Ian Cleminson sold 3,398 shares of the business’s stock in a transaction dated Monday, August 26th. The stock was sold at an average price of $114.74, for a total transaction of $389,886.52. Following the completion of the transaction, the chief financial officer now owns 12,996 shares of the company’s stock, valued at approximately $1,491,161.04. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 1.52% of the stock is owned by insiders.

Institutional Trading of Innospec

Several large investors have recently modified their holdings of the stock. Inspire Investing LLC grew its position in shares of Innospec by 28.9% during the 3rd quarter. Inspire Investing LLC now owns 3,651 shares of the specialty chemicals company’s stock worth $413,000 after buying an additional 819 shares during the period. SG Americas Securities LLC lifted its holdings in shares of Innospec by 64.2% in the 3rd quarter. SG Americas Securities LLC now owns 16,034 shares of the specialty chemicals company’s stock worth $1,813,000 after purchasing an additional 6,267 shares in the last quarter. Sanctuary Advisors LLC bought a new position in shares of Innospec in the 2nd quarter worth $233,000. Creative Planning lifted its stake in Innospec by 4.3% during the 2nd quarter. Creative Planning now owns 4,762 shares of the specialty chemicals company’s stock valued at $589,000 after acquiring an additional 195 shares in the last quarter. Finally, Mackenzie Financial Corp lifted its stake in Innospec by 12.1% during the 2nd quarter. Mackenzie Financial Corp now owns 3,391 shares of the specialty chemicals company’s stock valued at $419,000 after acquiring an additional 367 shares in 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.