Innospec (NASDAQ:IOSP) Sets New 1-Year Low - Here's Why

Key Points

• Innospec shares have reached a new 52-week low, trading as low as $73.39 on Tuesday, moving down from a previous close of $74.39.
• Equities analysts have adjusted their ratings on Innospec, with one cutting it from "buy" to "hold", while others have upgraded the stock, resulting in a consensus rating of "Moderate Buy."
• Institutional investors own 96.64% of Innospec's stock, with significant stakes recently acquired by various asset management firms.

Innospec Inc. (NASDAQ:IOSP - Get Free Report) shares hit a new 52-week low on Tuesday . The company traded as low as $73.39 and last traded at $74.09, with a volume of 3033 shares traded. The stock had previously closed at $74.39.

Wall Street Analyst Weigh In

A number of equities analysts have commented on the stock. Wall Street Zen cut shares of Innospec from a "buy" rating to a "hold" rating in a research report on Sunday. Zacks Research raised shares of Innospec from a "strong sell" rating to a "hold" rating in a research report on Monday, October 6th. Finally, Weiss Ratings upgraded shares of Innospec from a "sell (d+)" rating to a "hold (c-)" rating in a research note on Wednesday, October 8th. One analyst has rated the stock with a Strong Buy rating and two have issued a Hold rating to the company's stock. According to MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy".

Innospec Trading Up 1.1%

The firm's 50-day moving average price is $81.18 and its 200 day moving average price is $84.46. The company has a market cap of $1.87 billion, a price-to-earnings ratio of 96.56 and a beta of 1.04.

Innospec (NASDAQ:IOSP - Get Free Report) last issued its earnings results on Tuesday, August 5th. The specialty chemicals company reported $1.26 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.17 by $0.09. Innospec had a return on equity of 10.89% and a net margin of 1.08%.The company had revenue of $439.70 million for the quarter, compared to analysts' expectations of $440.70 million. During the same period last year, the business earned $1.39 EPS. Innospec's quarterly revenue was up 1.1% compared to the same quarter last year. Analysts forecast that Innospec Inc. will post 6.18 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Innospec

Hedge funds have recently made changes to their positions in the business. BNP PARIBAS ASSET MANAGEMENT Holding S.A. bought a new stake in shares of Innospec during the 2nd quarter worth $28,000. Tsfg LLC bought a new stake in shares of Innospec during the 1st quarter worth $35,000. EverSource Wealth Advisors LLC raised its stake in shares of Innospec by 1,159.5% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 529 shares of the specialty chemicals company's stock worth $44,000 after purchasing an additional 487 shares during the period. Blue Trust Inc. raised its stake in shares of Innospec by 38.3% during the 2nd quarter. Blue Trust Inc. now owns 672 shares of the specialty chemicals company's stock worth $57,000 after purchasing an additional 186 shares during the period. Finally, State of Wyoming raised its stake in shares of Innospec by 27.5% during the 2nd quarter. State of Wyoming now owns 801 shares of the specialty chemicals company's stock worth $67,000 after purchasing an additional 173 shares during the period. 96.64% of the stock is currently owned by institutional investors.

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.

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