Innospec (NASDAQ:IOSP) Downgraded by StockNews.com to "Hold"

Innospec (NASDAQ:IOSP - Get Free Report) was downgraded by equities researchers at StockNews.com from a "buy" rating to a "hold" rating in a research report issued to clients and investors on Wednesday.

Innospec Stock Performance

Shares of NASDAQ IOSP traded down $0.60 during trading on Wednesday, hitting $103.41. The company had a trading volume of 218,010 shares, compared to its average volume of 138,928. Innospec has a 52 week low of $99.49 and a 52 week high of $133.71. The business's 50-day moving average is $110.06 and its 200 day moving average is $112.29. The company has a market cap of $2.58 billion, a P/E ratio of 72.82 and a beta of 1.09.

Innospec (NASDAQ:IOSP - Get Free Report) last issued its earnings results on Tuesday, February 18th. The specialty chemicals company reported $1.41 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.36 by $0.05. Innospec had a return on equity of 12.27% and a net margin of 1.93%. The business had revenue of $466.80 million for the quarter, compared to analysts' expectations of $447.43 million. On average, research analysts expect that Innospec will post 6.18 EPS for the current year.

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Insider Buying and Selling at Innospec

In other news, SVP Corbin Barnes sold 2,692 shares of Innospec stock in a transaction on Friday, February 21st. The stock was sold at an average price of $103.30, for a total transaction of $278,083.60. Following the transaction, the senior vice president now owns 8,051 shares in the company, valued at approximately $831,668.30. The trade was a 25.06 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, VP Philip John Boon sold 3,754 shares of the company's stock in a transaction on Friday, February 21st. The shares were sold at an average price of $103.30, for a total value of $387,788.20. Following the transaction, the vice president now directly owns 20,079 shares in the company, valued at $2,074,160.70. The trade was a 15.75 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 7,696 shares of company stock valued at $794,853. 1.52% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Innospec

Several institutional investors and hedge funds have recently bought and sold shares of the business. Blue Trust Inc. lifted its position in shares of Innospec by 503.9% in the third quarter. Blue Trust Inc. now owns 779 shares of the specialty chemicals company's stock worth $96,000 after purchasing an additional 650 shares in the last quarter. Murphy & Mullick Capital Management Corp acquired a new position in Innospec in the 4th quarter valued at approximately $106,000. Covestor Ltd lifted its position in Innospec by 13.9% in the 4th quarter. Covestor Ltd now owns 967 shares of the specialty chemicals company's stock worth $106,000 after buying an additional 118 shares in the last quarter. KBC Group NV boosted its stake in shares of Innospec by 82.3% during the 4th quarter. KBC Group NV now owns 1,236 shares of the specialty chemicals company's stock valued at $136,000 after buying an additional 558 shares during the period. Finally, Smartleaf Asset Management LLC grew its holdings in shares of Innospec by 91.9% during the 4th quarter. Smartleaf Asset Management LLC now owns 1,802 shares of the specialty chemicals company's stock valued at $198,000 after acquiring an additional 863 shares in the last quarter. Hedge funds and other institutional investors own 96.64% of the company's stock.

Innospec Company Profile

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.