Innospec (NASDAQ:IOSP) Reaches New 1-Year Low – Time to Sell?

Shares of Innospec Inc. (NASDAQ:IOSP) hit a new 52-week low during mid-day trading on Monday . The company traded as low as $99.21 and last traded at $99.26, with a volume of 134611 shares. The stock had previously closed at $103.41.

Wall Street Analyst Weigh In

Separately, StockNews.com cut Innospec from a “buy” rating to a “hold” rating in a research report on Wednesday, February 26th.

Innospec Price Performance

The business has a fifty day moving average price of $110.06 and a 200 day moving average price of $112.32. The company has a market capitalization of $2.48 billion, a price-to-earnings ratio of 70.00 and a beta of 1.09.

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

Insider Buying and Selling

In other news, Director Milton C. Blackmore sold 652 shares of Innospec stock in a transaction on Friday, February 21st. The stock was sold at an average price of $103.30, for a total transaction of $67,351.60. Following the transaction, the director now directly owns 8,376 shares in the company, valued at approximately $865,240.80. This trade represents a 7.22 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, SVP Corbin Barnes sold 598 shares of the company’s stock in a transaction on Monday, February 24th. The shares were sold at an average price of $103.06, for a total value of $61,629.88. Following the completion of the sale, the senior vice president now owns 8,051 shares of the company’s stock, valued at approximately $829,736.06. This trade represents a 6.91 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 7,696 shares of company stock valued at $794,853 over the last quarter. Corporate insiders own 1.52% of the company’s stock.

Hedge Funds Weigh In On Innospec

Several hedge funds have recently made changes to their positions in the business. Murphy & Mullick Capital Management Corp bought a new stake in Innospec during the fourth quarter worth approximately $106,000. Covestor Ltd lifted its position in shares of Innospec by 13.9% during the 4th quarter. Covestor Ltd now owns 967 shares of the specialty chemicals company’s stock valued at $106,000 after acquiring an additional 118 shares during the last quarter. Blue Trust Inc. boosted its stake in shares of Innospec by 54.2% during the 4th quarter. Blue Trust Inc. now owns 1,201 shares of the specialty chemicals company’s stock worth $136,000 after acquiring an additional 422 shares in the last quarter. KBC Group NV grew its holdings in shares of Innospec by 82.3% in the 4th quarter. KBC Group NV now owns 1,236 shares of the specialty chemicals company’s stock worth $136,000 after acquiring an additional 558 shares during the last quarter. Finally, Smartleaf Asset Management LLC raised its position in shares of Innospec by 91.9% during the fourth quarter. Smartleaf Asset Management LLC now owns 1,802 shares of the specialty chemicals company’s stock worth $198,000 after purchasing an additional 863 shares during the period. Institutional investors and hedge funds 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.