Innospec Inc. (NASDAQ:IOSP) Short Interest Down 24.3% in March

Innospec Inc. (NASDAQ:IOSP) was the recipient of a significant drop in short interest during the month of March. As of March 13th, there was short interest totaling 321,014 shares, a drop of 24.3% from the February 26th total of 423,870 shares. Based on an average daily volume of 230,678 shares, the short-interest ratio is currently 1.4 days. Approximately 1.3% of the company’s stock are sold short.

Insider Buying and Selling

In other Innospec news, Director Larry Padfield sold 594 shares of Innospec stock in a transaction on Friday, February 27th. The stock was sold at an average price of $76.56, for a total transaction of $45,476.64. Following the completion of the transaction, the director owned 9,453 shares in the company, valued at approximately $723,721.68. The trade was a 5.91% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, 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 completion of the sale, the director directly owned 7,632 shares in the company, valued at $584,305.92. This trade represents a 7.22% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last 90 days, insiders sold 4,989 shares of company stock valued at $391,889. 1.31% of the stock is owned by company insiders.

Institutional Trading of Innospec

A number of institutional investors and hedge funds have recently bought and sold shares of IOSP. Versant Capital Management Inc increased its position in shares of Innospec by 378.1% during the 3rd quarter. Versant Capital Management Inc now owns 545 shares of the specialty chemicals company’s stock valued at $42,000 after purchasing an additional 431 shares during the last quarter. Hantz Financial Services Inc. lifted its stake in Innospec by 271.0% in the fourth quarter. Hantz Financial Services Inc. now owns 575 shares of the specialty chemicals company’s stock worth $44,000 after purchasing an additional 420 shares during the last quarter. EverSource Wealth Advisors LLC lifted its stake in Innospec by 1,159.5% in the second quarter. EverSource Wealth Advisors LLC now owns 529 shares of the specialty chemicals company’s stock worth $44,000 after purchasing an additional 487 shares during the last quarter. Allworth Financial LP boosted its position in shares of Innospec by 31.0% during the third quarter. Allworth Financial LP now owns 588 shares of the specialty chemicals company’s stock valued at $45,000 after buying an additional 139 shares during the period. Finally, Danske Bank A S bought a new position in shares of Innospec during the third quarter valued at approximately $46,000. 96.64% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of analysts recently commented on the company. Weiss Ratings upgraded Innospec from a “sell (d+)” rating to a “hold (c-)” rating in a research report on Thursday, February 19th. Wall Street Zen raised Innospec from a “hold” rating to a “buy” rating in a research report on Saturday, December 13th. Finally, Zacks Research downgraded Innospec from a “hold” rating to a “strong sell” rating in a research note on Thursday, February 19th. One analyst has rated the stock with a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Reduce”.

Innospec Stock Performance

Shares of Innospec stock traded down $0.17 on Tuesday, hitting $73.02. 251,125 shares of the company’s stock were exchanged, compared to its average volume of 227,792. Innospec has a 1 year low of $65.51 and a 1 year high of $96.38. The company has a 50-day simple moving average of $77.77 and a 200-day simple moving average of $77.03. The stock has a market capitalization of $1.82 billion, a PE ratio of 15.60, a PEG ratio of 1.90 and a beta of 0.90.

Innospec (NASDAQ:IOSP) last posted its quarterly earnings data on Tuesday, February 17th. The specialty chemicals company reported $1.50 earnings per share for the quarter, beating analysts’ consensus estimates of $1.26 by $0.24. Innospec had a return on equity of 10.18% and a net margin of 6.56%.The firm had revenue of $455.60 million for the quarter, compared to analysts’ expectations of $460.87 million. During the same period in the previous year, the firm earned $1.41 EPS. The business’s quarterly revenue was down 2.4% on a year-over-year basis. On average, analysts expect that Innospec will post 6.18 EPS for the current fiscal 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.