Innospec (NASDAQ:IOSP) Hits New 1-Year High – What’s Next?

Innospec Inc. (NASDAQ:IOSP) shares reached a new 52-week high during trading on Wednesday . The company traded as high as $95.07 and last traded at $95.20, with a volume of 1597 shares traded. The stock had previously closed at $94.73.

Wall Street Analyst Weigh In

A number of research analysts have recently weighed in on the company. Wall Street Zen raised Innospec from a “buy” rating to a “strong-buy” rating in a research note on Saturday, August 8th. Weiss Ratings raised Innospec from a “hold (c-)” rating to a “hold (c)” rating in a research note on Thursday, August 6th. Finally, Seaport Research Partners reiterated a “buy” rating and issued a $110.00 price objective on shares of Innospec in a report on Thursday, August 6th. Two investment analysts have rated the stock with a Hold rating, According to MarketBeat, the company currently has an average rating of “Hold”.

Innospec Price Performance

The stock has a market cap of $2.35 billion, a P/E ratio of 19.55, a P/E/G ratio of 2.51 and a beta of 0.93. The company’s 50 day simple moving average is $86.38 and its 200 day simple moving average is $80.75.

Innospec (NASDAQ:IOSP) last posted its earnings results on Tuesday, August 4th. The specialty chemicals company reported $1.27 earnings per share for the quarter, topping the consensus estimate of $1.05 by $0.22. The company had revenue of $491.40 million for the quarter, compared to analyst estimates of $457.25 million. Innospec had a net margin of 6.60% and a return on equity of 9.22%. The business’s revenue for the quarter was up 11.8% compared to the same quarter last year. During the same period last year, the business posted $1.26 earnings per share. On average, equities research analysts predict that Innospec Inc. will post 5.03 earnings per share for the current year.

Institutional Trading of Innospec

Several hedge funds have recently added to or reduced their stakes in IOSP. BlackRock Inc. acquired a new position in Innospec in the second quarter valued at about $356,596,000. California State Teachers Retirement System raised its position in shares of Innospec by 8,108.8% during the second quarter. California State Teachers Retirement System now owns 2,259,793 shares of the specialty chemicals company’s stock worth $183,925,000 after purchasing an additional 2,232,264 shares during the period. Dimensional Fund Advisors LP lifted its holdings in shares of Innospec by 5.7% during the 1st quarter. Dimensional Fund Advisors LP now owns 1,242,089 shares of the specialty chemicals company’s stock valued at $90,698,000 after purchasing an additional 66,967 shares in the last quarter. Victory Capital Management Inc. lifted its holdings in shares of Innospec by 13.7% during the 4th quarter. Victory Capital Management Inc. now owns 950,074 shares of the specialty chemicals company’s stock valued at $72,719,000 after purchasing an additional 114,179 shares in the last quarter. Finally, State Street Corp grew its position in shares of Innospec by 2.1% in the 4th quarter. State Street Corp now owns 949,038 shares of the specialty chemicals company’s stock valued at $72,639,000 after purchasing an additional 19,915 shares during the period. Institutional investors and hedge funds own 96.64% of the company’s stock.

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.