Q1 2024 Earnings Estimate for Innospec Inc. (NASDAQ:IOSP) Issued By Seaport Res Ptn

Innospec Inc. (NASDAQ:IOSP) – Stock analysts at Seaport Res Ptn boosted their Q1 2024 EPS estimates for Innospec in a research report issued on Wednesday, April 17th. Seaport Res Ptn analyst M. Harrison now forecasts that the specialty chemicals company will post earnings per share of $1.68 for the quarter, up from their previous forecast of $1.67. The consensus estimate for Innospec’s current full-year earnings is $6.72 per share. Seaport Res Ptn also issued estimates for Innospec’s Q2 2024 earnings at $1.57 EPS, Q3 2024 earnings at $1.70 EPS, Q4 2024 earnings at $1.82 EPS, FY2024 earnings at $6.78 EPS and FY2025 earnings at $7.48 EPS.

Innospec Price Performance

Innospec stock opened at $120.82 on Thursday. The firm has a 50 day simple moving average of $124.22 and a 200-day simple moving average of $115.04. The stock has a market capitalization of $3.01 billion, a PE ratio of 21.69 and a beta of 1.10. Innospec has a 12-month low of $91.74 and a 12-month high of $131.18.

Innospec (NASDAQ:IOSP) last posted its quarterly earnings data on Tuesday, February 13th. The specialty chemicals company reported $1.84 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.59 by $0.25. The business had revenue of $494.70 million during the quarter, compared to analysts’ expectations of $479.47 million. Innospec had a net margin of 7.14% and a return on equity of 13.69%. The business’s revenue was down 3.1% on a year-over-year basis. During the same period last year, the firm posted $1.20 earnings per share.

Insider Buying and Selling

In related news, Director Leslie J. Parrette bought 410 shares of the business’s stock in a transaction on Thursday, February 22nd. The stock was bought at an average price of $123.96 per share, for a total transaction of $50,823.60. Following the transaction, the director now directly owns 3,620 shares in the company, valued at $448,735.20. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. In other Innospec news, Director Leslie J. Parrette bought 410 shares of the stock in a transaction that occurred on Thursday, February 22nd. The shares were acquired at an average price of $123.96 per share, with a total value of $50,823.60. Following the completion of the purchase, the director now directly owns 3,620 shares in the company, valued at approximately $448,735.20. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, VP Philip John Boon sold 3,715 shares of the company’s stock in a transaction that occurred on Thursday, February 22nd. The stock was sold at an average price of $122.07, for a total transaction of $453,490.05. Following the transaction, the vice president now owns 18,516 shares in the company, valued at $2,260,248.12. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 36,500 shares of company stock worth $4,532,959. Corporate insiders own 1.52% of the company’s stock.

Institutional Trading of Innospec

A number of large investors have recently added to or reduced their stakes in the company. Vanguard Group Inc. raised its stake in Innospec by 0.4% in the 4th quarter. Vanguard Group Inc. now owns 2,953,918 shares of the specialty chemicals company’s stock worth $364,041,000 after purchasing an additional 12,562 shares in the last quarter. Wasatch Advisors LP lifted its position in shares of Innospec by 1.1% during the 1st quarter. Wasatch Advisors LP now owns 1,972,110 shares of the specialty chemicals company’s stock valued at $254,284,000 after acquiring an additional 22,094 shares during the period. Dimensional Fund Advisors LP increased its stake in Innospec by 1.0% during the 1st quarter. Dimensional Fund Advisors LP now owns 1,168,986 shares of the specialty chemicals company’s stock valued at $108,190,000 after purchasing an additional 11,943 shares in the last quarter. Victory Capital Management Inc. increased its stake in Innospec by 5.0% during the 4th quarter. Victory Capital Management Inc. now owns 1,022,850 shares of the specialty chemicals company’s stock valued at $105,210,000 after purchasing an additional 49,098 shares in the last quarter. Finally, State Street Corp grew its stake in shares of Innospec by 1.9% in the 2nd quarter. State Street Corp now owns 911,808 shares of the specialty chemicals company’s stock worth $87,342,000 after acquiring an additional 16,835 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.