Innospec Inc. (IOSP) Trading Up 1.9%
Innospec Inc. (NASDAQ:IOSP) shares were up 1.9% during mid-day trading on Friday . The stock traded as high as $51.02 and last traded at $50.86, with a volume of 54,820 shares changing hands. The stock had previously closed at $49.92.
Several research analysts have recently issued reports on IOSP shares. Zacks Investment Research raised Innospec from a “hold” rating to a “buy” rating and set a $54.00 price objective for the company in a research note on Friday, May 6th. KeyCorp raised Innospec from a “sector weight” rating to an “overweight” rating and set a $53.00 price objective for the company in a research note on Tuesday, April 5th.
The stock’s 50-day moving average is $47.77 and its 200-day moving average is $47.00. The stock has a market capitalization of $1.21 billion and a P/E ratio of 10.25.
Innospec (NASDAQ:IOSP) last announced its quarterly earnings data on Tuesday, May 3rd. The company reported $0.93 earnings per share for the quarter, topping the consensus estimate of $0.77 by $0.16. The firm earned $212.10 million during the quarter, compared to analysts’ expectations of $252.15 million. Innospec’s quarterly revenue was down 21.2% on a year-over-year basis. On average, analysts expect that Innospec Inc. will post $3.35 EPS for the current fiscal year.
Other hedge funds and institutional investors recently bought and sold shares of the company. Dimensional Fund Advisors LP raised its position in Innospec by 10.1% in the fourth quarter. Dimensional Fund Advisors LP now owns 1,120,831 shares of the company’s stock worth $60,873,000 after buying an additional 102,451 shares during the last quarter. Principal Financial Group Inc. raised its position in Innospec by 4.4% in the fourth quarter. Principal Financial Group Inc. now owns 164,177 shares of the company’s stock worth $8,916,000 after buying an additional 6,875 shares during the last quarter. Schroder Investment Management Group bought a new position in Innospec during the fourth quarter worth $8,255,000. New Amsterdam Partners LLC NY raised its position in Innospec by 2.4% in the fourth quarter. New Amsterdam Partners LLC NY now owns 137,217 shares of the company’s stock worth $7,452,000 after buying an additional 3,274 shares during the last quarter. Finally, WBI Investments Inc. bought a new position in Innospec during the fourth quarter worth $6,179,000.
Innospec Inc develops, manufactures, blends, markets and supplies fuel additives, oilfield chemicals, personal care and fragrance ingredients and other specialty chemicals. The Company operates in three segments: Fuel Specialties, Performance Chemicals and Octane Additives. The Company’s products are sold to oil and gas exploration and production companies, oil refineries, personal care and fragrance companies, and other chemical and industrial companies.
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