Innospec (NASDAQ:IOSP) Issues Quarterly Earnings Results

Key Points

• Innospec reported a quarterly earnings per share (EPS) of $1.26, surpassing analysts' expectations of $1.23, though it was lower than last year's $1.39 EPS.
• The company's stock rose by 1.7% to $80.73, with a market capitalization of $2.02 billion and a twelve-month high of $128.35.
• Institutional investors now hold 96.64% of Innospec's shares, with several hedge funds increasing their stakes in the company during the first quarter.

Innospec (NASDAQ:IOSP - Get Free Report) posted its quarterly earnings data on Tuesday. The specialty chemicals company reported $1.26 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.17 by $0.09, Zacks reports. The business had revenue of $439.70 million for the quarter, compared to the consensus estimate of $440.70 million. Innospec had a net margin of 1.08% and a return on equity of 10.89%. The company's revenue was up 1.1% compared to the same quarter last year. During the same period last year, the firm posted $1.39 earnings per share.

Innospec Stock Up 2.0%

Shares of Innospec stock traded up $1.58 during trading hours on Friday, reaching $81.39. 72,840 shares of the company's stock were exchanged, compared to its average volume of 204,197. The business has a fifty day moving average of $84.72 and a two-hundred day moving average of $92.93. The company has a market capitalization of $2.03 billion, a P/E ratio of 104.35 and a beta of 1.07. Innospec has a 1 year low of $74.10 and a 1 year high of $128.35.

Analyst Ratings Changes

Several research firms recently issued reports on IOSP. Wall Street Zen cut Innospec from a "buy" rating to a "hold" rating in a report on Tuesday, May 6th. Seaport Res Ptn raised Innospec from a "hold" rating to a "strong-buy" rating in a research note on Monday, April 21st.

Insider Buying and Selling at Innospec

In related news, Director Leslie J. Parrette sold 446 shares of the business's stock in a transaction dated Tuesday, May 13th. The shares were sold at an average price of $90.63, for a total transaction of $40,420.98. Following the transaction, the director directly owned 5,497 shares in the company, valued at approximately $498,193.11. The trade was a 7.50% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Corporate insiders own 1.31% of the company's stock.

Institutional Investors Weigh In On Innospec

A number of large investors have recently made changes to their positions in IOSP. Millennium Management LLC boosted its stake in Innospec by 8,176.5% during the first quarter. Millennium Management LLC now owns 170,414 shares of the specialty chemicals company's stock worth $16,147,000 after buying an additional 168,355 shares during the last quarter. Goldman Sachs Group Inc. increased its position in Innospec by 6.4% during the first quarter. Goldman Sachs Group Inc. now owns 132,399 shares of the specialty chemicals company's stock worth $12,545,000 after purchasing an additional 8,014 shares during the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its stake in Innospec by 14.3% during the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 101,773 shares of the specialty chemicals company's stock worth $9,643,000 after purchasing an additional 12,755 shares during the period. Jane Street Group LLC boosted its holdings in Innospec by 1,551.5% in the 1st quarter. Jane Street Group LLC now owns 95,243 shares of the specialty chemicals company's stock valued at $9,024,000 after purchasing an additional 89,476 shares during the last quarter. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its holdings in Innospec by 4.5% in 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 during the last quarter. 96.64% of the stock is currently owned by hedge funds and other institutional investors.

Innospec Company Profile

Innospec Inc develops, manufactures, blends, markets, and supplies specialty chemicals in the United States, rest of North America, the United Kingdom, rest of Europe, and internationally. The company's Fuel Specialties segment offers a range of specialty chemical products that are used as additives in additives in diesel, jet, marine, fuel oil and other fuels.