StockNews.com Downgrades Innospec (NASDAQ:IOSP) to Buy

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

Innospec Stock Performance

NASDAQ IOSP opened at $105.21 on Friday. The company has a market cap of $2.62 billion, a PE ratio of 18.36 and a beta of 1.09. Innospec has a 52-week low of $103.65 and a 52-week high of $133.71. The firm’s 50 day moving average price is $114.89 and its 200-day moving average price is $115.38.

Innospec (NASDAQ:IOSP) last issued its quarterly earnings data on Tuesday, November 5th. The specialty chemicals company reported $1.35 earnings per share for the quarter, hitting analysts’ consensus estimates of $1.35. Innospec had a return on equity of 13.33% and a net margin of 7.68%. The firm 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 business posted $1.59 EPS. The firm’s quarterly revenue was down 4.5% on a year-over-year basis. On average, analysts forecast that Innospec will post 5.88 earnings per share for the current fiscal year.

Insider Activity

In other Innospec news, Director Milton C. Blackmore sold 1,035 shares of the company’s stock in a transaction on Wednesday, November 13th. The shares were sold at an average price of $122.92, for a total value of $127,222.20. Following the sale, the director now directly owns 9,028 shares of the company’s stock, valued at approximately $1,109,721.76. This represents a 10.29 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Corporate insiders own 1.35% of the company’s stock.

Institutional Trading of Innospec

Several hedge funds and other institutional investors have recently bought and sold shares of the stock. Blue Trust Inc. raised its position in Innospec by 503.9% during the third quarter. Blue Trust Inc. now owns 779 shares of the specialty chemicals company’s stock worth $96,000 after acquiring an additional 650 shares during the period. nVerses Capital LLC raised its holdings in shares of Innospec by 200.0% during the third quarter. nVerses Capital LLC now owns 900 shares of the specialty chemicals company’s stock valued at $102,000 after acquiring an additional 600 shares during the last quarter. Point72 DIFC Ltd acquired a new stake in shares of Innospec in the second quarter worth approximately $184,000. Point72 Asset Management L.P. purchased a new stake in shares of Innospec during the third quarter worth approximately $215,000. Finally, Sanctuary Advisors LLC acquired a new position in Innospec in the 2nd quarter valued at $233,000. 96.64% of the stock is owned by institutional investors and hedge funds.

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.