Innospec (NASDAQ:IOSP) Reaches New 1-Year Low – Should You Sell?

Innospec Inc. (NASDAQ:IOSP)’s share price reached a new 52-week low on Wednesday . The stock traded as low as $67.29 and last traded at $68.14, with a volume of 14733 shares traded. The stock had previously closed at $68.87.

Wall Street Analyst Weigh In

IOSP has been the topic of several recent analyst reports. Wall Street Zen raised shares of Innospec from a “hold” rating to a “buy” rating in a research report on Saturday, December 13th. Zacks Research downgraded Innospec from a “hold” rating to a “strong sell” rating in a research report on Thursday, February 19th. Finally, Weiss Ratings raised Innospec from a “sell (d+)” rating to a “hold (c-)” rating in a research report on Thursday, February 19th. One analyst has rated the stock with a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat, Innospec presently has a consensus rating of “Reduce”.

Innospec Stock Down 1.6%

The firm has a market cap of $1.68 billion, a P/E ratio of 14.49, a price-to-earnings-growth ratio of 1.79 and a beta of 0.90. The firm’s 50-day simple moving average is $79.71 and its 200 day simple moving average is $78.04.

Innospec (NASDAQ:IOSP) last issued its quarterly earnings results on Tuesday, February 17th. The specialty chemicals company reported $1.50 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.26 by $0.24. The company had revenue of $455.60 million during the quarter, compared to analyst estimates of $460.87 million. Innospec had a net margin of 6.56% and a return on equity of 10.18%. Innospec’s quarterly revenue was down 2.4% compared to the same quarter last year. During the same quarter last year, the business posted $1.41 EPS. As a group, analysts forecast that Innospec Inc. will post 6.18 earnings per share for the current year.

Insider Transactions at Innospec

In other Innospec news, Director David Landless sold 594 shares of the business’s stock in a transaction on Friday, February 27th. The stock was sold at an average price of $76.56, for a total value of $45,476.64. Following the sale, the director directly owned 7,632 shares in the company, valued at $584,305.92. The trade was a 7.22% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director Larry Padfield sold 594 shares of the company’s stock in a transaction on Friday, February 27th. The shares were sold at an average price of $76.56, for a total value of $45,476.64. Following the transaction, the director directly owned 9,453 shares in the company, valued at $723,721.68. This represents a 5.91% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last ninety days, insiders sold 4,989 shares of company stock valued at $391,889. Corporate insiders own 1.31% of the company’s stock.

Institutional Trading of Innospec

Several hedge funds and other institutional investors have recently modified their holdings of IOSP. Geode Capital Management LLC lifted its position in shares of Innospec by 2.1% during the second quarter. Geode Capital Management LLC now owns 719,598 shares of the specialty chemicals company’s stock worth $60,517,000 after acquiring an additional 14,463 shares in the last quarter. AlphaQuest LLC raised its stake in shares of Innospec by 56.8% during the 3rd quarter. AlphaQuest LLC now owns 45,174 shares of the specialty chemicals company’s stock valued at $3,486,000 after purchasing an additional 16,360 shares during the period. Entropy Technologies LP bought a new stake in shares of Innospec during the 2nd quarter valued at $873,000. Public Sector Pension Investment Board lifted its holdings in Innospec by 14.0% during the 3rd quarter. Public Sector Pension Investment Board now owns 96,866 shares of the specialty chemicals company’s stock worth $7,474,000 after purchasing an additional 11,907 shares in the last quarter. Finally, Squarepoint Ops LLC bought a new position in Innospec in the 2nd quarter worth about $650,000. Institutional investors own 96.64% of the company’s stock.

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.