Innospec (NASDAQ:IOSP) Upgraded to “Strong-Buy” at StockNews.com

Innospec (NASDAQ:IOSP) was upgraded by StockNews.com from a “buy” rating to a “strong-buy” rating in a report issued on Tuesday.

Innospec Trading Down 0.2 %

IOSP stock traded down $0.25 on Tuesday, hitting $116.31. The company’s stock had a trading volume of 94,187 shares, compared to its average volume of 108,842. The stock has a market cap of $2.90 billion, a price-to-earnings ratio of 20.30 and a beta of 1.09. The firm has a 50 day moving average of $115.23 and a two-hundred day moving average of $117.64. Innospec has a 1 year low of $103.97 and a 1 year high of $133.71.

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

Insider Transactions at Innospec

In related news, Director Milton C. Blackmore sold 1,035 shares of the firm’s stock in a transaction dated Wednesday, November 13th. The shares were sold at an average price of $122.92, for a total value of $127,222.20. Following the completion of the sale, the director now owns 9,028 shares in the company, valued at $1,109,721.76. This trade represents a 10.29 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Company insiders own 1.35% of the company’s stock.

Institutional Trading of Innospec

Institutional investors have recently modified their holdings of the business. Assenagon Asset Management S.A. lifted its stake in shares of Innospec by 98.4% in the second quarter. Assenagon Asset Management S.A. now owns 120,082 shares of the specialty chemicals company’s stock valued at $14,841,000 after purchasing an additional 59,554 shares during the period. US Bancorp DE increased its position in shares of Innospec by 323.6% in the third quarter. US Bancorp DE now owns 5,490 shares of the specialty chemicals company’s stock valued at $621,000 after buying an additional 4,194 shares in the last quarter. Charles Schwab Investment Management Inc. raised its stake in shares of Innospec by 3.5% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 336,522 shares of the specialty chemicals company’s stock worth $38,057,000 after buying an additional 11,479 shares during the last quarter. Quest Partners LLC boosted its position in shares of Innospec by 2,699.6% in the 2nd quarter. Quest Partners LLC now owns 13,802 shares of the specialty chemicals company’s stock worth $1,706,000 after buying an additional 13,309 shares in the last quarter. Finally, SG Americas Securities LLC grew its stake in Innospec by 660.1% in the 2nd quarter. SG Americas Securities LLC now owns 9,767 shares of the specialty chemicals company’s stock valued at $1,207,000 after acquiring an additional 8,482 shares during the last quarter. 96.64% of the stock is currently owned by hedge funds and other institutional investors.

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.