Innospec Inc. (NASDAQ:IOSP) Sees Significant Increase in Short Interest

Innospec Inc. (NASDAQ:IOSP) was the target of a large growth in short interest in the month of April. As of April 15th, there was short interest totaling 460,752 shares, a growth of 14.1% from the March 31st total of 403,648 shares. Approximately 1.9% of the company’s shares are sold short. Based on an average daily trading volume, of 213,835 shares, the short-interest ratio is presently 2.2 days.

Innospec Trading Up 0.7%

NASDAQ IOSP traded up $0.57 during trading on Friday, hitting $76.83. The company had a trading volume of 290,190 shares, compared to its average volume of 169,554. Innospec has a one year low of $65.51 and a one year high of $95.55. The company has a market cap of $1.91 billion, a price-to-earnings ratio of 16.42, a price-to-earnings-growth ratio of 2.05 and a beta of 0.90. The company’s fifty day moving average is $73.79 and its 200-day moving average is $76.49.

Innospec (NASDAQ:IOSP) last issued its quarterly earnings data on Tuesday, February 17th. The specialty chemicals company reported $1.50 EPS for the quarter, topping the consensus estimate of $1.26 by $0.24. Innospec had a net margin of 6.56% and a return on equity of 10.18%. The business had revenue of $455.60 million during the quarter, compared to analyst estimates of $460.87 million. During the same period in the prior year, the business earned $1.41 EPS. The company’s revenue for the quarter was down 2.4% on a year-over-year basis. As a group, equities analysts anticipate that Innospec will post 4.96 EPS for the current year.

Insider Activity

In other Innospec news, Director David Landless sold 594 shares of the stock in a transaction on Friday, February 27th. The shares were sold at an average price of $76.56, for a total transaction of $45,476.64. Following the completion of the sale, the director owned 7,632 shares of the company’s stock, valued at $584,305.92. This represents a 7.22% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director Milton C. Blackmore sold 594 shares of the stock in a transaction on Friday, February 27th. The shares were sold at an average price of $76.56, for a total transaction of $45,476.64. Following the sale, the director directly owned 10,530 shares of the company’s stock, valued at $806,176.80. The trade was a 5.34% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last 90 days, insiders sold 4,989 shares of company stock worth $391,889. 1.45% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in IOSP. SG Americas Securities LLC increased its stake in shares of Innospec by 291.0% in the 4th quarter. SG Americas Securities LLC now owns 75,814 shares of the specialty chemicals company’s stock worth $5,803,000 after acquiring an additional 56,425 shares in the last quarter. AlphaQuest LLC increased its stake in shares of Innospec by 56.8% in the 3rd quarter. AlphaQuest LLC now owns 45,174 shares of the specialty chemicals company’s stock worth $3,486,000 after acquiring an additional 16,360 shares in the last quarter. Numerai GP LLC increased its stake in shares of Innospec by 29.7% in the 3rd quarter. Numerai GP LLC now owns 81,541 shares of the specialty chemicals company’s stock worth $6,292,000 after acquiring an additional 18,649 shares in the last quarter. Medina Value Partners LLC bought a new position in shares of Innospec in the 3rd quarter worth about $18,206,000. Finally, Western Standard LLC bought a new position in shares of Innospec in the 3rd quarter worth about $2,083,000. 96.64% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Several brokerages have weighed in on IOSP. Weiss Ratings raised shares of Innospec from a “sell (d+)” rating to a “hold (c-)” rating in a research report on Thursday, February 19th. Zacks Research upgraded shares of Innospec from a “strong sell” rating to a “hold” rating in a report on Friday, April 24th. Two investment analysts have rated the stock with a Hold rating, According to data from MarketBeat, the company presently has a consensus rating of “Hold”.

About Innospec

Innospec Incorporated (NASDAQ: IOSP) is a global specialty chemicals company headquartered in Cleveland, Ohio. The company operates through three principal business segments: Fuel Specialties, Oilfield Services, and Performance Chemicals. In the Fuel Specialties segment, Innospec develops and supplies additives designed to enhance octane levels, improve combustion efficiency, reduce emissions and prevent deposit formation in gasoline and diesel engines. Its Oilfield Services division provides chemical technologies—such as surfactants, corrosion inhibitors and demulsifiers—to support exploration, drilling, production optimization and enhanced oil recovery operations.