Innospec (NASDAQ:IOSP) Reaches New 12-Month Low - Here's What Happened

Shares of Innospec Inc. (NASDAQ:IOSP - Get Free Report) hit a new 52-week low during trading on Monday . The company traded as low as $99.21 and last traded at $99.26, with a volume of 134611 shares trading hands. The stock had previously closed at $103.41.

Wall Street Analyst Weigh In

Separately, StockNews.com upgraded Innospec from a "hold" rating to a "buy" rating in a research report on Thursday.

Innospec Stock Up 1.1 %

The company has a market capitalization of $2.51 billion, a P/E ratio of 70.86 and a beta of 1.09. The business has a 50 day simple moving average of $109.09 and a 200-day simple moving average of $111.99.

Innospec (NASDAQ:IOSP - Get Free Report) last posted its earnings results on Tuesday, February 18th. The specialty chemicals company reported $1.41 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.36 by $0.05. Innospec had a net margin of 1.93% and a return on equity of 12.27%. The firm had revenue of $466.80 million during the quarter, compared to analyst estimates of $447.43 million. Equities analysts forecast that Innospec Inc. will post 6.18 EPS for the current fiscal year.

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Insider Buying and Selling

In related news, SVP Corbin Barnes sold 598 shares of the business's stock in a transaction that occurred on Monday, February 24th. The stock was sold at an average price of $103.06, for a total transaction of $61,629.88. Following the sale, the senior vice president now owns 8,051 shares of the company's stock, valued at $829,736.06. The trade was a 6.91 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Milton C. Blackmore sold 652 shares of the stock in a transaction on Friday, February 21st. The shares were sold at an average price of $103.30, for a total value of $67,351.60. Following the transaction, the director now directly owns 8,376 shares of the company's stock, valued at approximately $865,240.80. The trade was a 7.22 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 7,696 shares of company stock valued at $794,853 in the last three months. 1.52% of the stock is currently owned by corporate insiders.

Institutional Trading of Innospec

Several institutional investors have recently modified their holdings of the company. US Bancorp DE raised its position in Innospec by 323.6% in the third quarter. US Bancorp DE now owns 5,490 shares of the specialty chemicals company's stock worth $621,000 after acquiring an additional 4,194 shares in the last quarter. Charles Schwab Investment Management Inc. lifted its stake in Innospec by 3.5% during the third quarter. Charles Schwab Investment Management Inc. now owns 336,522 shares of the specialty chemicals company's stock valued at $38,057,000 after purchasing an additional 11,479 shares during the last quarter. JPMorgan Chase & Co. boosted its holdings in Innospec by 24.6% during the third quarter. JPMorgan Chase & Co. now owns 266,688 shares of the specialty chemicals company's stock worth $30,160,000 after buying an additional 52,640 shares in the last quarter. HighTower Advisors LLC grew its position in Innospec by 5.2% in the third quarter. HighTower Advisors LLC now owns 3,103 shares of the specialty chemicals company's stock worth $350,000 after buying an additional 154 shares during the last quarter. Finally, Citigroup Inc. increased its holdings in shares of Innospec by 46.1% in the third quarter. Citigroup Inc. now owns 32,193 shares of the specialty chemicals company's stock valued at $3,641,000 after buying an additional 10,162 shares in the last quarter. Institutional investors and hedge funds 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.