Innospec (NASDAQ:IOSP) Raised to Buy at StockNews.com

StockNews.com upgraded shares of Innospec (NASDAQ:IOSP) from a hold rating to a buy rating in a research note published on Thursday.

Innospec Price Performance

Innospec stock opened at $100.62 on Thursday. The firm has a market capitalization of $2.51 billion, a PE ratio of 70.86 and a beta of 1.08. The company’s 50-day moving average is $108.89 and its 200-day moving average is $111.92. Innospec has a fifty-two week low of $97.13 and a fifty-two week high of $133.71.

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

Insider Transactions at Innospec

In related news, VP Philip John Boon sold 3,754 shares of the company’s stock in a transaction dated Friday, February 21st. The shares were sold at an average price of $103.30, for a total value of $387,788.20. Following the transaction, the vice president now owns 20,079 shares in the company, valued at approximately $2,074,160.70. This represents a 15.75 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, SVP Corbin Barnes sold 598 shares of the company’s stock in a transaction dated Monday, February 24th. The shares were sold at an average price of $103.06, for a total transaction of $61,629.88. Following the completion of the transaction, the senior vice president now owns 8,051 shares in the company, 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 7,696 shares of company stock worth $794,853 in the last ninety days. Insiders own 1.52% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. Covestor Ltd boosted its holdings in Innospec by 13.9% in the 4th quarter. Covestor Ltd now owns 967 shares of the specialty chemicals company’s stock valued at $106,000 after purchasing an additional 118 shares during the period. Summit Investment Advisors Inc. boosted its holdings in Innospec by 4.7% in the 4th quarter. Summit Investment Advisors Inc. now owns 2,608 shares of the specialty chemicals company’s stock valued at $287,000 after purchasing an additional 118 shares during the period. PNC Financial Services Group Inc. boosted its holdings in 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 valued at $206,000 after purchasing an additional 151 shares during the period. HighTower Advisors LLC boosted its holdings in Innospec by 5.2% in the 3rd quarter. HighTower Advisors LLC now owns 3,103 shares of the specialty chemicals company’s stock valued at $350,000 after purchasing an additional 154 shares during the period. Finally, Raymond James Trust N.A. boosted its holdings in 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 valued at $238,000 after purchasing an additional 155 shares during the period. Institutional investors and hedge funds 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.