Innospec Inc. (NASDAQ:IOSP) Short Interest Update

Innospec Inc. (NASDAQ:IOSP) saw a significant drop in short interest during the month of January. As of January 30th, there was short interest totaling 297,899 shares, a drop of 17.2% from the January 15th total of 359,671 shares. Based on an average trading volume of 120,554 shares, the days-to-cover ratio is presently 2.5 days. Currently, 1.2% of the company’s shares are short sold. Currently, 1.2% of the company’s shares are short sold. Based on an average trading volume of 120,554 shares, the days-to-cover ratio is presently 2.5 days.

Institutional Investors Weigh In On Innospec

Several hedge funds and other institutional investors have recently modified their holdings of the company. Western Standard LLC lifted its holdings in shares of Innospec by 894.0% in the 4th quarter. Western Standard LLC now owns 268,367 shares of the specialty chemicals company’s stock worth $20,541,000 after purchasing an additional 241,367 shares in the last quarter. Medina Value Partners LLC bought a new stake in Innospec during the 3rd quarter valued at $18,206,000. Goldman Sachs Group Inc. lifted its stake in shares of Innospec by 71.6% in the fourth quarter. Goldman Sachs Group Inc. now owns 484,968 shares of the specialty chemicals company’s stock valued at $37,119,000 after buying an additional 202,325 shares in the last quarter. Millennium Management LLC lifted its stake in shares of Innospec by 8,176.5% in the first quarter. Millennium Management LLC now owns 170,414 shares of the specialty chemicals company’s stock valued at $16,147,000 after buying an additional 168,355 shares in the last quarter. Finally, Norges Bank bought a new position in shares of Innospec in the fourth quarter valued at $10,654,000. Institutional investors own 96.64% of the company’s stock.

Analyst Ratings Changes

IOSP has been the subject of a number of recent analyst reports. Weiss Ratings reissued a “sell (d+)” rating on shares of Innospec in a research report on Monday, December 22nd. Zacks Research raised shares of Innospec from a “strong sell” rating to a “hold” rating in a research note on Tuesday, January 6th. Finally, Wall Street Zen raised shares of Innospec from a “hold” rating to a “buy” rating in a research note on Saturday, December 13th. One analyst has rated the stock with a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Reduce”.

Innospec Stock Up 1.9%

IOSP traded up $1.63 during midday trading on Wednesday, hitting $87.77. The company had a trading volume of 93,718 shares, compared to its average volume of 161,166. The stock’s 50 day moving average price is $80.86 and its 200 day moving average price is $79.22. Innospec has a 52 week low of $70.10 and a 52 week high of $106.00. The company has a market capitalization of $2.17 billion, a price-to-earnings ratio of -2,925.70 and a beta of 0.91.

Innospec (NASDAQ:IOSP) last released its quarterly earnings data on Wednesday, February 18th. The specialty chemicals company reported $1.50 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.26 by $0.24. Innospec had a negative net margin of 0.07% and a positive return on equity of 10.28%. The company had revenue of $455.60 million for the quarter, compared to analysts’ expectations of $460.87 million. During the same quarter in the prior year, the firm earned $1.41 EPS. The business’s revenue was down 2.4% on a year-over-year basis. Research analysts predict that Innospec will post 6.18 EPS for the current year.

Innospec Company Profile

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.