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

Innospec (NASDAQ:IOSP - Get Free Report) was upgraded by stock analysts at StockNews.com from a "hold" rating to a "buy" rating in a report released on Thursday.

Innospec Price Performance

Shares of IOSP stock traded up $1.08 during midday trading on Thursday, reaching $100.62. 176,607 shares of the company traded hands, compared to its average volume of 149,289. Innospec has a 1-year low of $97.13 and a 1-year high of $133.71. The firm has a market cap of $2.51 billion, a PE ratio of 70.86 and a beta of 1.08. The firm's 50 day simple moving average is $108.89 and its two-hundred day simple moving average is $111.92.

Innospec (NASDAQ:IOSP - Get Free Report) last issued its quarterly earnings data on Tuesday, February 18th. The specialty chemicals company reported $1.41 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.36 by $0.05. Innospec had a return on equity of 12.27% and a net margin of 1.93%. The firm had revenue of $466.80 million during the quarter, compared to the consensus estimate of $447.43 million. As a group, research analysts anticipate that Innospec will post 6.18 earnings per share for the current fiscal year.

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Insider Buying and Selling

In other Innospec news, SVP Corbin Barnes sold 2,692 shares of the firm's stock in a transaction dated Friday, February 21st. The stock was sold at an average price of $103.30, for a total value of $278,083.60. Following the sale, the senior vice president now directly owns 8,051 shares of the company's stock, valued at approximately $831,668.30. This trade represents a 25.06 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Milton C. Blackmore sold 652 shares of the firm's stock in a transaction dated Friday, February 21st. The stock was sold at an average price of $103.30, for a total value of $67,351.60. Following the completion of the sale, the director now directly owns 8,376 shares in the company, 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 worth $794,853 in the last ninety days. Insiders own 1.52% of the company's stock.

Institutional Trading of Innospec

A number of hedge funds have recently added to or reduced their stakes in IOSP. Murphy & Mullick Capital Management Corp acquired a new stake in Innospec in the 4th quarter worth about $106,000. Covestor Ltd boosted its stake 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 during the last quarter. Blue Trust Inc. boosted its stake in Innospec by 54.2% in the 4th quarter. Blue Trust Inc. now owns 1,201 shares of the specialty chemicals company's stock worth $136,000 after buying an additional 422 shares during the last quarter. KBC Group NV raised its holdings in shares of Innospec by 82.3% in the 4th quarter. KBC Group NV now owns 1,236 shares of the specialty chemicals company's stock worth $136,000 after purchasing an additional 558 shares during the period. Finally, Smartleaf Asset Management LLC raised its holdings in shares of Innospec by 91.9% in the 4th quarter. Smartleaf Asset Management LLC now owns 1,802 shares of the specialty chemicals company's stock worth $198,000 after purchasing an additional 863 shares during the period. 96.64% of the stock is owned by institutional investors and hedge funds.

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.