Innospec (NASDAQ:IOSP) Sets New 12-Month Low - Should You Sell?

Key Points

• Innospec Inc. shares reached a new 52-week low of $75.11 on Wednesday, down from a previous close of $80.73.
• Analysts have mixed views on Innospec, with Wall Street Zen downgrading it from a "buy" to a "hold" rating, while Seaport Res Ptn upgraded it to a "strong-buy."
• The company reported an earnings per share (EPS) of $1.26 for the last quarter, beating estimates but showing a decline from the previous year's $1.39 EPS.

Shares of Innospec Inc. (NASDAQ:IOSP - Get Free Report) hit a new 52-week low on Wednesday . The company traded as low as $75.11 and last traded at $75.64, with a volume of 44039 shares changing hands. The stock had previously closed at $80.73.

Analyst Ratings Changes

A number of analysts recently commented on the company. Wall Street Zen lowered Innospec from a "buy" rating to a "hold" rating in a research note 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.

Innospec Trading Down 4.3%

The firm has a market capitalization of $1.93 billion, a price-to-earnings ratio of 71.58 and a beta of 1.07. The firm has a 50 day moving average price of $84.99 and a two-hundred day moving average price of $93.27.

Innospec (NASDAQ:IOSP - Get Free Report) last announced its earnings results on Tuesday, August 5th. The specialty chemicals company reported $1.26 EPS for the quarter, beating the consensus estimate of $1.17 by $0.09. The business had revenue of $439.70 million for the quarter, compared to the consensus estimate of $440.70 million. Innospec had a return on equity of 11.38% and a net margin of 1.51%. The company's revenue was up 1.1% on a year-over-year basis. During the same period last year, the business posted $1.39 EPS. As a group, research analysts forecast that Innospec Inc. will post 6.18 earnings per share for the current year.

Insider Activity at Innospec

In other Innospec news, Director Leslie J. Parrette sold 446 shares of Innospec stock in a transaction that occurred on Tuesday, May 13th. The stock was sold at an average price of $90.63, for a total transaction of $40,420.98. Following the sale, 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 through the SEC website. Insiders own 1.31% of the company's stock.

Institutional Investors Weigh In On Innospec

Several hedge funds and other institutional investors have recently bought and sold shares of the business. BNP PARIBAS ASSET MANAGEMENT Holding S.A. bought a new stake in shares of Innospec in the 2nd quarter valued at approximately $28,000. Bank of New York Mellon Corp increased its holdings in shares of Innospec by 1.0% in the 2nd quarter. Bank of New York Mellon Corp now owns 231,007 shares of the specialty chemicals company's stock valued at $19,425,000 after acquiring an additional 2,268 shares during the last quarter. Tredje AP fonden grew its stake in Innospec by 43.3% during the 2nd quarter. Tredje AP fonden now owns 15,047 shares of the specialty chemicals company's stock worth $1,265,000 after buying an additional 4,548 shares during the last quarter. Teacher Retirement System of Texas grew its stake in Innospec by 867.7% during the 2nd quarter. Teacher Retirement System of Texas now owns 60,010 shares of the specialty chemicals company's stock worth $5,046,000 after buying an additional 53,809 shares during the last quarter. Finally, Y Intercept Hong Kong Ltd bought a new position in Innospec during the 2nd quarter worth $3,468,000. 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.

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