Innospec (NASDAQ:IOSP) Sets New 12-Month Low - Time to Sell?

Key Points

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Shares of Innospec Inc. (NASDAQ:IOSP - Get Free Report) hit a new 52-week low during mid-day trading on Thursday . The company traded as low as $79.90 and last traded at $80.35, with a volume of 10789 shares changing hands. The stock had previously closed at $80.74.

Analysts Set New Price Targets

A number of brokerages have issued reports on IOSP. Wall Street Zen cut shares of Innospec from a "buy" rating to a "hold" rating in a report on Tuesday, May 6th. Seaport Res Ptn raised shares of Innospec from a "hold" rating to a "strong-buy" rating in a report on Monday, April 21st.

Innospec Stock Down 1.7%

The business's 50-day moving average price is $85.26 and its 200 day moving average price is $93.87. The company has a market capitalization of $1.96 billion, a P/E ratio of 72.73 and a beta of 1.07.

Innospec (NASDAQ:IOSP - Get Free Report) last announced 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. The firm had revenue of $440.80 million during the quarter, compared to the consensus estimate of $466.50 million. Innospec had a net margin of 1.51% and a return on equity of 11.38%. The business's quarterly revenue was down 11.9% compared to the same quarter last year. During the same period last year, the firm earned $1.75 EPS. Analysts anticipate that Innospec Inc. will post 6.18 EPS for the current fiscal year.

Insider Activity at Innospec

In other news, Director Leslie J. Parrette sold 446 shares of the business's stock in a transaction on Tuesday, May 13th. The shares were sold at an average price of $90.63, for a total transaction of $40,420.98. Following the completion of the transaction, the director directly owned 5,497 shares in the company, valued at $498,193.11. The trade was a 7.50% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 1.31% of the stock is owned by company insiders.

Hedge Funds Weigh In On Innospec

Institutional investors have recently added to or reduced their stakes in the business. Tsfg LLC bought a new position in Innospec in the 1st quarter worth about $35,000. Blue Trust Inc. increased its stake in Innospec by 38.3% in the 2nd quarter. Blue Trust Inc. now owns 672 shares of the specialty chemicals company's stock worth $57,000 after acquiring an additional 186 shares during the last quarter. Covestor Ltd raised its position in shares of Innospec by 13.9% during the 4th quarter. Covestor Ltd now owns 967 shares of the specialty chemicals company's stock valued at $106,000 after buying an additional 118 shares in the last quarter. Caitong International Asset Management Co. Ltd purchased a new stake in shares of Innospec during the 1st quarter valued at $121,000. Finally, Polymer Capital Management US LLC purchased a new stake in shares of Innospec during the 4th quarter valued at $201,000. 96.64% of the stock is currently owned by 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.