Innospec (NASDAQ:IOSP) Reaches New 1-Year High Following Strong Earnings

Key Points

• Innospec shares reached a new 52-week high, trading as high as $93.01 after closing at $86.70, following a stronger-than-expected earnings report.
• The specialty chemicals company reported quarterly EPS of $1.27, beating estimates by $0.22, while revenue reached $491.4 million—above expectations and up 11.8% year over year.
• Analyst sentiment remains cautious, with an average “Hold” rating, although several firms recently upgraded their views. Institutional investors own a substantial 96.64% of the company’s stock.

Innospec Inc. (NASDAQ:IOSP - Get Free Report) hit a new 52-week high on Wednesday following a stronger than expected earnings report. The stock traded as high as $93.01 and last traded at $91.64, with a volume of 232644 shares. The stock had previously closed at $86.70.

The specialty chemicals company reported $1.27 EPS for the quarter, beating the consensus estimate of $1.05 by $0.22. The company had revenue of $491.40 million during the quarter, compared to analysts' expectations of $457.25 million. Innospec had a return on equity of 9.32% and a net margin of 6.38%.The firm's revenue was up 11.8% on a year-over-year basis. During the same quarter in the previous year, the business earned $1.26 EPS.

Get Innospec SMS alerts:

Sign Up

Wall Street Analysts Forecast Growth

Several equities research analysts have recently weighed in on IOSP shares. Zacks Research raised shares of Innospec from a "strong sell" rating to a "hold" rating in a research report on Friday, April 24th. Wall Street Zen raised shares of Innospec from a "hold" rating to a "buy" rating in a report on Saturday, July 18th. Finally, Weiss Ratings raised Innospec from a "sell (d+)" rating to a "hold (c-)" rating in a report on Wednesday, July 1st. Two equities research analysts have rated the stock with a Hold rating, Based on data from MarketBeat.com, the company presently has an average rating of "Hold".

Institutional Investors Weigh In On Innospec

A number of large investors have recently made changes to their positions in the company. Dimensional Fund Advisors LP boosted its position in shares of Innospec by 5.7% in the first quarter. Dimensional Fund Advisors LP now owns 1,242,089 shares of the specialty chemicals company's stock worth $90,698,000 after buying an additional 66,967 shares during the period. Victory Capital Management Inc. grew its stake in Innospec by 13.7% during the 4th quarter. Victory Capital Management Inc. now owns 950,074 shares of the specialty chemicals company's stock valued at $72,719,000 after acquiring an additional 114,179 shares in the last quarter. State Street Corp grew its stake in Innospec by 2.1% during the 4th quarter. State Street Corp now owns 949,038 shares of the specialty chemicals company's stock valued at $72,639,000 after acquiring an additional 19,915 shares in the last quarter. Millennium Management LLC increased its holdings in shares of Innospec by 10.8% in the 4th quarter. Millennium Management LLC now owns 533,312 shares of the specialty chemicals company's stock valued at $40,820,000 after purchasing an additional 51,824 shares during the period. Finally, Nuveen LLC boosted its holdings in shares of Innospec by 22.2% during the fourth quarter. Nuveen LLC now owns 502,603 shares of the specialty chemicals company's stock worth $38,469,000 after purchasing an additional 91,326 shares during the period. Institutional investors and hedge funds own 96.64% of the company's stock.

Innospec Stock Up 7.3%

The stock has a market capitalization of $2.29 billion, a PE ratio of 20.22, a P/E/G ratio of 2.36 and a beta of 0.93. The stock's 50-day moving average is $83.21 and its 200 day moving average is $79.49.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.

Continue following MarketBeat

Add MarketBeat as your preferred source on Google to see our latest stories in your feed.

Add As Preferred Source