Innospec Inc. (NASDAQ:IOSP) Short Interest Up 25.7% in March

Key Points

• Short interest up 25.7% in March to 403,648 shares (about 1.6% of the stock) with a days‑to‑cover ratio of 1.1.
• Innospec beat EPS at $1.50 vs. $1.26 expected, but revenue fell to $455.6M (down 2.4% year‑over‑year) and slightly missed estimates.
• Company insiders have been selling (directors sold 594 shares each), insiders now own 1.45% while institutional investors own 96.64%, and Millennium Management substantially increased its stake to 170,414 shares.

Innospec Inc. (NASDAQ:IOSP - Get Free Report) was the recipient of a significant increase in short interest in March. As of March 31st, there was short interest totaling 403,648 shares, an increase of 25.7% from the March 15th total of 321,014 shares. Based on an average daily trading volume, of 360,134 shares, the days-to-cover ratio is presently 1.1 days. Approximately 1.6% of the shares of the stock are short sold.

Innospec Stock Up 0.3%

Shares of NASDAQ IOSP traded up $0.22 on Thursday, hitting $74.88. The company had a trading volume of 53,660 shares, compared to its average volume of 223,580. Innospec has a 12-month low of $65.51 and a 12-month high of $95.55. The business has a 50 day moving average of $76.04 and a two-hundred day moving average of $76.59. The firm has a market capitalization of $1.86 billion, a P/E ratio of 16.00, a PEG ratio of 1.98 and a beta of 0.90.

Innospec (NASDAQ:IOSP - Get Free Report) last released its quarterly earnings results 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 return on equity of 10.18% and a net margin of 6.56%.The business had revenue of $455.60 million for the quarter, compared to analysts' expectations of $460.87 million. During the same quarter in the previous year, the firm posted $1.41 earnings per share. The company's revenue was down 2.4% compared to the same quarter last year. On average, sell-side analysts anticipate that Innospec will post 6.18 earnings per share for the current year.

Insiders Place Their Bets

In related news, Director David Landless sold 594 shares of Innospec stock in a transaction that occurred 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 transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, Director Milton C. Blackmore 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 value of $45,476.64. Following the transaction, the director directly owned 10,530 shares of the company's stock, valued at approximately $806,176.80. This represents a 5.34% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold 4,989 shares of company stock valued at $391,889 in the last three months. 1.45% of the stock is owned by corporate insiders.

Institutional Trading of Innospec

Institutional investors and hedge funds have recently made changes to their positions in the stock. Baird Financial Group Inc. grew its holdings in Innospec by 11.5% in the 1st quarter. Baird Financial Group Inc. now owns 2,170 shares of the specialty chemicals company's stock worth $206,000 after buying an additional 223 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its stake in Innospec by 4.5% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 14,833 shares of the specialty chemicals company's stock valued at $1,405,000 after purchasing an additional 645 shares in the last quarter. Millennium Management LLC boosted its stake in Innospec by 8,176.5% during the 1st quarter. Millennium Management LLC now owns 170,414 shares of the specialty chemicals company's stock valued at $16,147,000 after purchasing an additional 168,355 shares in the last quarter. NewEdge Advisors LLC boosted its stake in Innospec by 37.4% during the 1st quarter. NewEdge Advisors LLC now owns 4,567 shares of the specialty chemicals company's stock valued at $433,000 after purchasing an additional 1,243 shares in the last quarter. Finally, Goldman Sachs Group Inc. boosted its stake in Innospec by 6.4% during the 1st quarter. Goldman Sachs Group Inc. now owns 132,399 shares of the specialty chemicals company's stock valued at $12,545,000 after purchasing an additional 8,014 shares in the last quarter. 96.64% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several equities analysts recently commented on the company. Zacks Research downgraded Innospec from a "hold" rating to a "strong sell" rating in a research report on Thursday, February 19th. Weiss Ratings raised Innospec from a "sell (d+)" rating to a "hold (c-)" rating in a research report on Thursday, February 19th. One investment analyst has rated the stock with a Hold rating and one has given a Sell rating to the company. According to MarketBeat.com, Innospec has a consensus rating of "Reduce".

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.

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