Innospec (NASDAQ:IOSP) Issues Earnings Results

Innospec (NASDAQ:IOSP) released its quarterly earnings results on Tuesday. The specialty chemicals company reported $1.27 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.05 by $0.22, Zacks reports. The firm had revenue of $491.40 million for the quarter, compared to the consensus estimate of $457.25 million. Innospec had a return on equity of 9.25% and a net margin of 6.60%.The company’s revenue for the quarter was up 11.8% on a year-over-year basis. During the same quarter last year, the business posted $1.26 EPS.

Innospec Trading Up 1.0%

NASDAQ IOSP traded up $0.94 during trading on Thursday, reaching $92.89. The company’s stock had a trading volume of 100,673 shares, compared to its average volume of 208,611. Innospec has a 12 month low of $65.51 and a 12 month high of $94.17. The firm has a 50 day moving average price of $83.41 and a 200 day moving average price of $79.56. The firm has a market capitalization of $2.29 billion, a price-to-earnings ratio of 18.93, a price-to-earnings-growth ratio of 2.39 and a beta of 0.93.

Analysts Set New Price Targets

IOSP has been the subject of several recent research reports. Weiss Ratings upgraded shares of Innospec from a “sell (d+)” rating to a “hold (c-)” rating in a report on Wednesday, July 1st. Wall Street Zen raised Innospec from a “hold” rating to a “buy” rating in a research report on Saturday, July 18th. Zacks Research raised shares of Innospec from a “strong sell” rating to a “hold” rating in a research note on Friday, April 24th. Finally, Seaport Research Partners reaffirmed a “buy” rating on shares of Innospec in a research report on Thursday. Two research analysts have rated the stock with a Hold rating, According to MarketBeat.com, Innospec currently has a consensus rating of “Hold”.

Institutional Trading of Innospec

Institutional investors have recently modified their holdings of the stock. Captrust Financial Advisors grew its position 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 buying an additional 406 shares during the period. CIBC Bancorp USA Inc. bought a new stake in Innospec in the 3rd quarter valued at about $207,000. Polymer Capital Management US LLC increased its position in Innospec by 46.2% in the 3rd quarter. Polymer Capital Management US LLC now owns 4,910 shares of the specialty chemicals company’s stock valued at $379,000 after buying an additional 1,552 shares in the last quarter. Amundi raised its stake in Innospec by 5.0% during the 3rd quarter. Amundi now owns 4,490 shares of the specialty chemicals company’s stock worth $354,000 after buying an additional 214 shares during the period. Finally, Man Group plc boosted its holdings in Innospec by 8.2% in the third quarter. Man Group plc now owns 4,918 shares of the specialty chemicals company’s stock worth $379,000 after acquiring an additional 374 shares in the last quarter. 96.64% of the stock is currently owned by institutional investors.

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.