Innospec (NASDAQ:IOSP) Raised to “Strong-Buy” at StockNews.com

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

Innospec Trading Up 1.2 %

NASDAQ IOSP opened at $108.90 on Friday. The firm has a market cap of $2.72 billion, a PE ratio of 19.01 and a beta of 1.09. Innospec has a 1-year low of $103.97 and a 1-year high of $133.71. The stock has a 50-day moving average of $115.08 and a 200-day moving average of $115.82.

Innospec (NASDAQ:IOSP) last announced its quarterly earnings data on Tuesday, November 5th. The specialty chemicals company reported $1.35 earnings per share 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 firm had revenue of $443.40 million during the quarter, compared to the consensus estimate of $442.13 million. During the same quarter in the previous year, the company posted $1.59 earnings per share. The business’s revenue was down 4.5% on a year-over-year basis. As a group, equities research analysts forecast that Innospec will post 5.88 earnings per share for the current fiscal year.

Insider Activity

In related news, Director Milton C. Blackmore sold 1,035 shares of the firm’s stock in a transaction on Wednesday, November 13th. The stock was sold at an average price of $122.92, for a total value of $127,222.20. Following the completion of the sale, the director now owns 9,028 shares of the company’s stock, valued at $1,109,721.76. This trade represents a 10.29 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Insiders own 1.52% of the company’s stock.

Institutional Inflows and Outflows

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