Innospec (NASDAQ:IOSP – Get Free Report) was downgraded by equities research analysts at StockNews.com from a “strong-buy” rating to a “buy” rating in a note issued to investors on Saturday.
Innospec Price Performance
Shares of IOSP opened at $105.21 on Friday. Innospec has a one year low of $103.65 and a one year high of $133.71. The firm has a market capitalization of $2.62 billion, a P/E ratio of 18.36 and a beta of 1.09. The business has a fifty day moving average of $114.89 and a 200 day moving average of $115.38.
Innospec (NASDAQ:IOSP – Get Free Report) last announced its earnings results on Tuesday, November 5th. The specialty chemicals company reported $1.35 earnings per share (EPS) for the quarter, meeting the consensus estimate of $1.35. The company had revenue of $443.40 million during the quarter, compared to analyst estimates of $442.13 million. Innospec had a net margin of 7.68% and a return on equity of 13.33%. The firm’s quarterly revenue was down 4.5% compared to the same quarter last year. During the same period in the previous year, the business posted $1.59 earnings per share. Analysts expect that Innospec will post 5.88 EPS for the current fiscal year.
Insiders Place Their Bets
Institutional Inflows and Outflows
Several hedge funds and other institutional investors have recently made changes to their positions in IOSP. TD Asset Management Inc grew its stake in shares of Innospec by 58.9% in the 2nd quarter. TD Asset Management Inc now owns 17,000 shares of the specialty chemicals company’s stock worth $2,101,000 after buying an additional 6,300 shares in the last quarter. Arizona State Retirement System lifted its position in shares of Innospec by 1.9% during the second quarter. Arizona State Retirement System now owns 6,962 shares of the specialty chemicals company’s stock worth $860,000 after purchasing an additional 128 shares during the last quarter. Texas Permanent School Fund Corp boosted its stake in shares of Innospec by 0.6% during the second quarter. Texas Permanent School Fund Corp now owns 21,891 shares of the specialty chemicals company’s stock valued at $2,706,000 after purchasing an additional 129 shares during the period. BOKF NA bought a new position in shares of Innospec in the second quarter worth about $329,000. Finally, Oppenheimer Asset Management Inc. increased its stake in Innospec by 31.4% in the 2nd quarter. Oppenheimer Asset Management Inc. now owns 20,136 shares of the specialty chemicals company’s stock worth $2,489,000 after buying an additional 4,812 shares during the period. 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.
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