Innospec (NASDAQ:IOSP) Stock Rating Lowered by StockNews.com

Innospec (NASDAQ:IOSP - Get Free Report) was downgraded by analysts at StockNews.com from a "buy" rating to a "hold" rating in a research report issued on Tuesday.

Separately, Seaport Res Ptn raised shares of Innospec from a "hold" rating to a "strong-buy" rating in a research report on Monday, April 21st.

Innospec Stock Performance

Shares of IOSP stock traded down $2.93 on Tuesday, hitting $90.47. The company's stock had a trading volume of 193,390 shares, compared to its average volume of 151,324. The stock's 50 day moving average is $92.38 and its 200-day moving average is $105.47. Innospec has a fifty-two week low of $80.32 and a fifty-two week high of $133.59. The company has a market capitalization of $2.27 billion, a PE ratio of 63.71 and a beta of 1.11.

Innospec (NASDAQ:IOSP - Get Free Report) last released its quarterly earnings results on Thursday, May 8th. The specialty chemicals company reported $1.42 EPS for the quarter, beating the consensus estimate of $1.40 by $0.02. Innospec had a net margin of 1.93% and a return on equity of 12.27%. The business had revenue of $440.80 million for the quarter, compared to the consensus estimate of $466.50 million. During the same period in the prior year, the company posted $1.75 earnings per share. Innospec's revenue was down 11.9% compared to the same quarter last year. On average, research analysts forecast that Innospec will post 6.18 earnings per share for the current year.

Innospec announced that its board has authorized a stock buyback program on Monday, March 10th that permits the company to buyback $50.00 million in shares. This buyback authorization permits the specialty chemicals company to buy up to 2% of its shares through open market purchases. Shares buyback programs are usually a sign that the company's leadership believes its stock is undervalued.

Insider Buying and Selling

In related news, VP Philip John Boon sold 3,754 shares of the company's stock in a transaction dated Friday, February 21st. The shares were sold at an average price of $103.30, for a total transaction of $387,788.20. Following the completion of the sale, the vice president now owns 20,079 shares of the company's stock, valued at $2,074,160.70. This represents a 15.75% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director Milton C. Blackmore sold 652 shares of the stock in a transaction dated Friday, February 21st. The stock was sold at an average price of $103.30, for a total transaction of $67,351.60. Following the completion of the transaction, the director now directly owns 8,376 shares of the company's stock, valued at $865,240.80. This trade represents a 7.22% decrease in their position. The disclosure for this sale can be found here. Insiders sold 7,696 shares of company stock valued at $794,853 over the last quarter. 1.31% of the stock is owned by company insiders.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently made changes to their positions in IOSP. Tsfg LLC bought a new position in shares of Innospec in the first quarter worth about $35,000. Murphy & Mullick Capital Management Corp bought a new position in shares of Innospec in the fourth quarter worth about $106,000. Covestor Ltd lifted its holdings in shares of Innospec by 13.9% in the fourth quarter. Covestor Ltd now owns 967 shares of the specialty chemicals company's stock worth $106,000 after acquiring an additional 118 shares during the last quarter. KBC Group NV lifted its holdings in shares of Innospec by 82.3% in the fourth quarter. KBC Group NV now owns 1,236 shares of the specialty chemicals company's stock worth $136,000 after acquiring an additional 558 shares during the last quarter. Finally, Blue Trust Inc. lifted its holdings in shares of Innospec by 54.2% in the fourth quarter. Blue Trust Inc. now owns 1,201 shares of the specialty chemicals company's stock worth $136,000 after acquiring an additional 422 shares during the last quarter. Institutional investors own 96.64% of the company's stock.

About Innospec

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.