Innospec (NASDAQ:IOSP) Rating Lowered to Buy at StockNews.com

Innospec (NASDAQ:IOSP) was downgraded by analysts at StockNews.com from a “strong-buy” rating to a “buy” rating in a research note issued to investors on Saturday.

Innospec Price Performance

IOSP stock opened at $105.21 on Friday. The firm has a market cap of $2.62 billion, a PE ratio of 18.36 and a beta of 1.09. Innospec has a 12 month low of $103.65 and a 12 month high of $133.71. The firm has a 50 day simple moving average of $114.83 and a 200 day simple moving average of $115.19.

Innospec (NASDAQ:IOSP) last announced its quarterly earnings data on Tuesday, November 5th. The specialty chemicals company reported $1.35 EPS for the quarter, meeting analysts’ consensus estimates of $1.35. The company had revenue of $443.40 million during the quarter, compared to the consensus estimate of $442.13 million. Innospec had a return on equity of 13.33% and a net margin of 7.68%. The company’s quarterly revenue was down 4.5% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $1.59 EPS. As a group, sell-side analysts expect that Innospec will post 5.88 earnings per share for the current year.

Insider Buying and Selling at Innospec

In other Innospec news, Director Milton C. Blackmore sold 1,035 shares of the business’s stock in a transaction on Wednesday, November 13th. The shares were sold at an average price of $122.92, for a total transaction of $127,222.20. Following the sale, the director now directly owns 9,028 shares of the company’s stock, valued at $1,109,721.76. The trade was a 10.29 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Insiders own 1.52% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of the business. US Bancorp DE lifted its stake in Innospec by 323.6% in 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. Charles Schwab Investment Management Inc. lifted its position in shares of Innospec by 3.5% in the third 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 in the last quarter. JPMorgan Chase & Co. boosted its holdings in shares of Innospec by 24.6% during the third 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 period. HighTower Advisors LLC grew its position in Innospec by 5.2% during the third quarter. HighTower Advisors LLC now owns 3,103 shares of the specialty chemicals company’s stock valued at $350,000 after purchasing an additional 154 shares in the last quarter. Finally, TD Asset Management Inc grew its position in Innospec by 58.9% during the second quarter. TD Asset Management Inc now owns 17,000 shares of the specialty chemicals company’s stock valued at $2,101,000 after purchasing an additional 6,300 shares in the last quarter. Hedge funds and other institutional investors 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.