Innospec (NASDAQ:IOSP) Announces Quarterly Earnings Results

Innospec (NASDAQ:IOSP) released its earnings results on Tuesday. The specialty chemicals company reported $1.27 EPS for the quarter, beating the consensus estimate of $1.05 by $0.22, Zacks reports. Innospec had a net margin of 6.38% and a return on equity of 9.32%.

Innospec Stock Performance

NASDAQ IOSP traded up $1.22 on Tuesday, reaching $86.70. The company’s stock had a trading volume of 174,795 shares, compared to its average volume of 208,133. Innospec has a twelve month low of $65.51 and a twelve month high of $92.14. The firm’s 50 day moving average is $83.12 and its two-hundred day moving average is $79.45. The stock has a market cap of $2.14 billion, a PE ratio of 18.89, a PEG ratio of 2.37 and a beta of 0.93.

Institutional Trading of Innospec

A number of hedge funds and other institutional investors have recently made changes to their positions in IOSP. Captrust Financial Advisors boosted its stake in shares of Innospec by 13.7% during the 4th quarter. Captrust Financial Advisors now owns 3,360 shares of the specialty chemicals company’s stock worth $257,000 after acquiring an additional 406 shares in the last quarter. CIBC Bancorp USA Inc. acquired a new stake in shares of Innospec during the third quarter worth $207,000. Polymer Capital Management US LLC raised its position in shares of Innospec by 46.2% during the third quarter. Polymer Capital Management US LLC now owns 4,910 shares of the specialty chemicals company’s stock worth $379,000 after purchasing an additional 1,552 shares during the period. Amundi lifted its holdings in shares of Innospec by 5.0% during the third quarter. Amundi now owns 4,490 shares of the specialty chemicals company’s stock valued at $354,000 after purchasing an additional 214 shares during the last quarter. Finally, Man Group plc lifted its holdings in shares of Innospec by 8.2% during the third quarter. Man Group plc now owns 4,918 shares of the specialty chemicals company’s stock valued at $379,000 after purchasing an additional 374 shares during the last quarter. 96.64% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Several research analysts have recently issued reports on the stock. Wall Street Zen upgraded shares of Innospec from a “hold” rating to a “buy” rating in a report on Saturday, July 18th. Zacks Research upgraded Innospec from a “strong sell” rating to a “hold” rating in a research report on Friday, April 24th. Finally, Weiss Ratings upgraded Innospec from a “sell (d+)” rating to a “hold (c-)” rating in a research report on Wednesday, July 1st. Two equities research analysts have rated the stock with a Hold rating, According to MarketBeat, Innospec currently has an average rating of “Hold”.

Innospec Company Profile

Innospec Incorporated (NASDAQ: IOSP) is a global specialty chemicals company headquartered in Cleveland, Ohio. The company operates through three principal business segments: Fuel Specialties, Oilfield Services, and Performance Chemicals. In the Fuel Specialties segment, Innospec develops and supplies additives designed to enhance octane levels, improve combustion efficiency, reduce emissions and prevent deposit formation in gasoline and diesel engines. Its Oilfield Services division provides chemical technologies—such as surfactants, corrosion inhibitors and demulsifiers—to support exploration, drilling, production optimization and enhanced oil recovery operations.