Innospec (NASDAQ:IOSP) Lowered to “Hold” Rating by StockNews.com

StockNews.com downgraded shares of Innospec (NASDAQ:IOSP) from a buy rating to a hold rating in a report published on Wednesday.

Innospec Stock Performance

Shares of NASDAQ:IOSP opened at $103.57 on Wednesday. The company has a market cap of $2.59 billion, a P/E ratio of 72.94 and a beta of 1.09. The stock’s 50-day moving average is $110.29 and its 200-day moving average is $112.31. Innospec has a 52-week low of $99.49 and a 52-week high of $133.71.

Innospec (NASDAQ:IOSP) last released its earnings results on Tuesday, February 18th. The specialty chemicals company reported $1.41 earnings per share for the quarter, beating the consensus estimate of $1.36 by $0.05. Innospec had a net margin of 1.93% and a return on equity of 12.27%. The business had revenue of $466.80 million during the quarter, compared to analysts’ expectations of $447.43 million. As a group, equities analysts predict that Innospec will post 6.18 EPS for the current year.

Insider Activity at Innospec

In other Innospec news, Director Milton C. Blackmore sold 652 shares of the firm’s stock in a transaction dated Friday, February 21st. The shares were sold at an average price of $103.30, for a total transaction of $67,351.60. Following the completion of the transaction, the director now owns 8,376 shares in the company, valued at $865,240.80. This trade represents a 7.22 % 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. Also, SVP Corbin Barnes sold 598 shares of the firm’s stock in a transaction dated Monday, February 24th. The stock was sold at an average price of $103.06, for a total transaction of $61,629.88. Following the transaction, the senior vice president now owns 8,051 shares of the company’s stock, valued at approximately $829,736.06. This represents a 6.91 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 7,696 shares of company stock worth $794,853. Company insiders own 1.52% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Covestor Ltd lifted its stake in Innospec by 13.9% during the fourth quarter. Covestor Ltd now owns 967 shares of the specialty chemicals company’s stock worth $106,000 after purchasing an additional 118 shares during the period. Summit Investment Advisors Inc. boosted its holdings in shares of Innospec by 4.7% in the 4th quarter. Summit Investment Advisors Inc. now owns 2,608 shares of the specialty chemicals company’s stock worth $287,000 after acquiring an additional 118 shares in the last quarter. PNC Financial Services Group Inc. boosted its holdings in shares of Innospec by 8.8% in the 4th quarter. PNC Financial Services Group Inc. now owns 1,868 shares of the specialty chemicals company’s stock worth $206,000 after acquiring an additional 151 shares in the last quarter. HighTower Advisors LLC boosted its holdings in shares of Innospec by 5.2% in the 3rd quarter. HighTower Advisors LLC now owns 3,103 shares of the specialty chemicals company’s stock worth $350,000 after acquiring an additional 154 shares in the last quarter. Finally, Raymond James Trust N.A. boosted its holdings in shares of Innospec by 7.9% in the 3rd quarter. Raymond James Trust N.A. now owns 2,106 shares of the specialty chemicals company’s stock worth $238,000 after acquiring an additional 155 shares in the last quarter. Institutional investors own 96.64% of the company’s stock.

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.