Innospec (NASDAQ:IOSP) Lowered to "Buy" Rating by StockNews.com

Innospec (NASDAQ:IOSP - Get Free Report) was downgraded by StockNews.com from a "strong-buy" rating to a "buy" rating in a report issued on Saturday.

Innospec Trading Down 1.3 %

Shares of Innospec stock traded down $1.41 during trading hours on Friday, reaching $105.21. 97,949 shares of the company's stock were exchanged, compared to its average volume of 82,825. The stock has a market cap of $2.62 billion, a P/E ratio of 18.36 and a beta of 1.09. The company has a 50 day moving average of $114.83 and a two-hundred day moving average of $115.19. Innospec has a fifty-two week low of $103.65 and a fifty-two week high of $133.71.

Innospec (NASDAQ:IOSP - Get Free Report) last released its earnings results on Tuesday, November 5th. The specialty chemicals company reported $1.35 earnings per share (EPS) for the quarter, hitting the consensus estimate of $1.35. The business had revenue of $443.40 million for the quarter, compared to analyst estimates of $442.13 million. Innospec had a return on equity of 13.33% and a net margin of 7.68%. Innospec's revenue was down 4.5% on a year-over-year basis. During the same quarter in the prior year, the company posted $1.59 earnings per share. As a group, analysts expect that Innospec will post 5.88 earnings per share for the current fiscal year.

Insider Buying and Selling at Innospec

In related news, Director Milton C. Blackmore sold 1,035 shares of the business's stock in a transaction that occurred on Wednesday, November 13th. The stock was sold at an average price of $122.92, for a total transaction of $127,222.20. Following the transaction, the director now directly owns 9,028 shares of the company's stock, valued at approximately $1,109,721.76. The trade was a 10.29 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 1.52% of the company's stock.

Institutional Investors Weigh In On Innospec

Institutional investors have recently made changes to their positions in the company. Allspring Global Investments Holdings LLC increased its position in Innospec by 4.6% during the third quarter. Allspring Global Investments Holdings LLC now owns 2,405,770 shares of the specialty chemicals company's stock worth $272,069,000 after acquiring an additional 105,311 shares during the period. Wasatch Advisors LP grew its position in shares of Innospec by 0.6% during the 3rd quarter. Wasatch Advisors LP now owns 1,805,546 shares of the specialty chemicals company's stock worth $204,189,000 after purchasing an additional 11,231 shares in the last quarter. State Street Corp increased its holdings in shares of Innospec by 2.1% during the third quarter. State Street Corp now owns 996,281 shares of the specialty chemicals company's stock worth $112,669,000 after purchasing an additional 20,744 shares during the period. Victory Capital Management Inc. raised its position in shares of Innospec by 4.8% in the third quarter. Victory Capital Management Inc. now owns 908,032 shares of the specialty chemicals company's stock valued at $102,689,000 after buying an additional 41,449 shares in the last quarter. Finally, Royce & Associates LP boosted its stake in shares of Innospec by 9.3% in the third quarter. Royce & Associates LP now owns 835,333 shares of the specialty chemicals company's stock valued at $94,468,000 after buying an additional 70,902 shares during the period. Institutional investors own 96.64% of the company's stock.

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.