Innospec (NASDAQ:IOSP) Sets New 52-Week Low - Time to Sell?

Key Points

• Innospec's stock hit a new 52-week low, trading at $74.05, compared to its previous close of $76.29, with a trading volume of 63,346 shares.
• Analyst ratings have shifted, with Zacks raising the stock from "strong sell" to "hold," while Wall Street Zen downgraded it from "buy" to "hold," reflecting mixed sentiment among analysts.
• Institutional investors own 96.64% of Innospec's stock, with notable increases in holdings from firms like American Century Companies (up 27.7%) and Voya Investment Management (up 63.2%).

Innospec Inc. (NASDAQ:IOSP - Get Free Report)'s share price hit a new 52-week low during mid-day trading on Friday . The stock traded as low as $74.05 and last traded at $74.18, with a volume of 63346 shares. The stock had previously closed at $76.29.

Analyst Ratings Changes

IOSP has been the topic of a number of analyst reports. Zacks Research raised Innospec from a "strong sell" rating to a "hold" rating in a report on Monday. Weiss Ratings raised Innospec from a "sell (d+)" rating to a "hold (c-)" rating in a report on Wednesday. Finally, Wall Street Zen lowered Innospec from a "buy" rating to a "hold" rating in a report on Saturday, September 20th. One research analyst has rated the stock with a Strong Buy rating and two have issued a Hold rating to the company's stock. According to data from MarketBeat.com, the company presently has an average rating of "Moderate Buy".

Innospec Stock Performance

The firm has a market cap of $1.84 billion, a P/E ratio of 94.94 and a beta of 1.04. The company has a 50-day moving average of $81.96 and a 200 day moving average of $85.55.

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

Institutional Investors Weigh In On Innospec

Hedge funds and other institutional investors have recently bought and sold shares of the business. Principal Financial Group Inc. increased its holdings in Innospec by 2.4% during the 1st quarter. Principal Financial Group Inc. now owns 132,493 shares of the specialty chemicals company's stock valued at $12,554,000 after purchasing an additional 3,045 shares in the last quarter. Rhumbline Advisers increased its holdings in Innospec by 9.3% during the 1st quarter. Rhumbline Advisers now owns 77,760 shares of the specialty chemicals company's stock valued at $7,368,000 after purchasing an additional 6,602 shares in the last quarter. American Century Companies Inc. increased its holdings in Innospec by 27.7% during the 1st quarter. American Century Companies Inc. now owns 47,545 shares of the specialty chemicals company's stock valued at $4,505,000 after purchasing an additional 10,309 shares in the last quarter. Voya Investment Management LLC increased its stake in shares of Innospec by 63.2% in the 1st quarter. Voya Investment Management LLC now owns 327,289 shares of the specialty chemicals company's stock valued at $31,011,000 after buying an additional 126,750 shares during the period. Finally, Wealth Enhancement Advisory Services LLC acquired a new stake in shares of Innospec in the 2nd quarter valued at $345,000. 96.64% of the stock is owned by institutional investors and hedge funds.

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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