Innospec (NASDAQ:IOSP) Rating Increased to Strong-Buy at StockNews.com

Innospec (NASDAQ:IOSP) was upgraded by investment analysts at StockNews.com from a “buy” rating to a “strong-buy” rating in a research note issued on Friday.

Innospec Stock Performance

Shares of IOSP stock traded up $1.26 during mid-day trading on Friday, reaching $108.90. 90,565 shares of the company’s stock traded hands, compared to its average volume of 84,433. The firm has a market capitalization of $2.72 billion, a PE ratio of 19.01 and a beta of 1.09. Innospec has a 12 month low of $103.97 and a 12 month high of $133.71. The firm has a 50 day moving average price of $115.08 and a two-hundred day moving average price of $115.82.

Innospec (NASDAQ:IOSP) last released its quarterly 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. Innospec had a return on equity of 13.33% and a net margin of 7.68%. The business had revenue of $443.40 million during the quarter, compared to analyst estimates of $442.13 million. During the same quarter in the previous year, the company posted $1.59 earnings per share. Innospec’s revenue for the quarter was down 4.5% on a year-over-year basis. As a group, equities analysts expect that Innospec will post 5.88 earnings per share for the current fiscal year.

Insider Transactions at Innospec

In related news, Director Milton C. Blackmore sold 1,035 shares of Innospec stock in a transaction that occurred on Wednesday, November 13th. The stock was sold at an average price of $122.92, for a total transaction of $127,222.20. Following the sale, the director now owns 9,028 shares of the company’s stock, valued at approximately $1,109,721.76. This trade represents a 10.29 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Corporate insiders own 1.52% of the company’s stock.

Institutional Investors Weigh In On Innospec

Institutional investors have recently added to or reduced their stakes in the stock. Blue Trust Inc. increased its holdings in shares of Innospec by 503.9% in the third quarter. Blue Trust Inc. now owns 779 shares of the specialty chemicals company’s stock worth $96,000 after purchasing an additional 650 shares during the last quarter. nVerses Capital LLC increased its stake in Innospec by 200.0% in the 3rd quarter. nVerses Capital LLC now owns 900 shares of the specialty chemicals company’s stock worth $102,000 after acquiring an additional 600 shares during the last quarter. Point72 DIFC Ltd bought a new stake in Innospec in the 2nd quarter worth approximately $184,000. Point72 Asset Management L.P. bought a new position in shares of Innospec during the 3rd quarter valued at approximately $215,000. Finally, Sanctuary Advisors LLC bought a new position in shares of Innospec during the 2nd quarter valued at approximately $233,000. 96.64% of the stock is 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.