Innospec (NASDAQ:IOSP) Reaches New 1-Year Low – Should You Sell?

Shares of Innospec Inc. (NASDAQ:IOSP) reached a new 52-week low during trading on Wednesday . The stock traded as low as $67.29 and last traded at $68.14, with a volume of 14733 shares changing hands. The stock had previously closed at $68.87.

Wall Street Analysts Forecast Growth

A number of research analysts recently commented on the company. Zacks Research cut Innospec from a “hold” rating to a “strong sell” rating in a report on Thursday, February 19th. Weiss Ratings upgraded Innospec from a “sell (d+)” rating to a “hold (c-)” rating in a research report on Thursday, February 19th. Finally, Wall Street Zen raised Innospec from a “hold” rating to a “buy” rating in a research note on Saturday, December 13th. One investment analyst has rated the stock with a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Reduce”.

Innospec Stock Performance

The business’s 50 day moving average price is $79.24 and its 200-day moving average price is $77.89. The firm has a market capitalization of $1.67 billion, a PE ratio of 14.37, a P/E/G ratio of 1.78 and a beta of 0.90.

Innospec (NASDAQ:IOSP) last posted its quarterly earnings data on Tuesday, February 17th. The specialty chemicals company reported $1.50 earnings per share for the quarter, topping analysts’ consensus estimates of $1.26 by $0.24. Innospec had a net margin of 6.56% and a return on equity of 10.18%. The firm had revenue of $455.60 million during the quarter, compared to analysts’ expectations of $460.87 million. During the same quarter last year, the company posted $1.41 EPS. The firm’s quarterly revenue was down 2.4% on a year-over-year basis. As a group, analysts anticipate that Innospec Inc. will post 6.18 earnings per share for the current year.

Insider Transactions at Innospec

In related news, SVP David B. Jones sold 1,028 shares of the business’s stock in a transaction on Tuesday, March 3rd. The stock was sold at an average price of $75.64, for a total value of $77,757.92. Following the sale, the senior vice president owned 14,693 shares in the company, valued at approximately $1,111,378.52. The trade was a 6.54% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Milton C. Blackmore sold 1,030 shares of the stock in a transaction dated Friday, February 20th. The stock was sold at an average price of $81.84, for a total value of $84,295.20. Following the transaction, the director directly owned 9,585 shares in the company, valued at approximately $784,436.40. The trade was a 9.70% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold 4,989 shares of company stock valued at $391,889 over the last three months. 1.31% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Innospec

A number of hedge funds and other institutional investors have recently bought and sold shares of IOSP. Baird Financial Group Inc. increased its stake in Innospec by 11.5% during the first quarter. Baird Financial Group Inc. now owns 2,170 shares of the specialty chemicals company’s stock worth $206,000 after purchasing an additional 223 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its position in shares of Innospec by 4.5% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 14,833 shares of the specialty chemicals company’s stock worth $1,405,000 after purchasing an additional 645 shares in the last quarter. Millennium Management LLC boosted its stake in shares of Innospec by 8,176.5% in the first quarter. Millennium Management LLC now owns 170,414 shares of the specialty chemicals company’s stock valued at $16,147,000 after purchasing an additional 168,355 shares during the period. NewEdge Advisors LLC boosted its stake in shares of Innospec by 37.4% in the first quarter. NewEdge Advisors LLC now owns 4,567 shares of the specialty chemicals company’s stock valued at $433,000 after purchasing an additional 1,243 shares during the period. Finally, Goldman Sachs Group Inc. grew its holdings in shares of Innospec by 6.4% in the first quarter. Goldman Sachs Group Inc. now owns 132,399 shares of the specialty chemicals company’s stock valued at $12,545,000 after purchasing an additional 8,014 shares in the last quarter. 96.64% of the stock is currently owned by hedge funds and other institutional investors.

About Innospec

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.