Innospec (NASDAQ:IOSP) Director Purchases 345 Shares of Stock

Key Points

• Director Leslie Parrette bought 345 Innospec shares at an average price of $79.69, a $27,493 purchase that increased their stake by 4.68% to 7,721 shares.
• Innospec reported quarterly EPS of $1.29, beating the $1.26 consensus, while revenue of $473.6 million fell short of estimates; revenue rose 7.2% year over year.
• Analyst views were mixed, with downgrades including a Zacks Research “strong sell”; MarketBeat reported a consensus rating of “Reduce.”

Innospec Inc. (NASDAQ:IOSP - Get Free Report) Director Leslie Parrette acquired 345 shares of the company's stock in a transaction that occurred on Tuesday, November 10th. The stock was bought at an average cost of $79.69 per share, with a total value of $27,493.05. Following the purchase, the director owned 7,721 shares in the company, valued at $615,286.49. The trade was a 4.68% increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is available at this hyperlink.

Innospec Trading Up 1.0%

Innospec stock traded up $0.82 during mid-day trading on Thursday, reaching $79.11. The company had a trading volume of 250,353 shares, compared to its average volume of 283,802. Innospec Inc. has a fifty-two week low of $65.51 and a fifty-two week high of $102.00. The company has a market cap of $1.95 billion, a P/E ratio of 15.32, a P/E/G ratio of 3.12 and a beta of 0.88. The business has a fifty day simple moving average of $94.09 and a 200 day simple moving average of $84.54.

Innospec (NASDAQ:IOSP - Get Free Report) last announced its quarterly earnings results on Tuesday, November 3rd. The specialty chemicals company reported $1.29 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.26 by $0.03. Innospec had a net margin of 7.49% and a return on equity of 9.36%. The company had revenue of $473.60 million during the quarter, compared to the consensus estimate of $479.17 million. During the same period in the prior year, the business earned $1.12 earnings per share. The company's revenue for the quarter was up 7.2% compared to the same quarter last year. Research analysts forecast that Innospec Inc. will post 5.03 EPS for the current year.

Institutional Trading of Innospec

Institutional investors and hedge funds have recently bought and sold shares of the stock. Root Financial Partners LLC acquired a new position in Innospec during the 3rd quarter worth about $30,000. Meeder Asset Management Inc. bought a new stake in shares of Innospec in the 2nd quarter valued at about $36,000. State of Wyoming acquired a new stake in shares of Innospec in the third quarter valued at about $46,000. Public Employees Retirement System of Ohio acquired a new stake in shares of Innospec in the second quarter valued at about $62,000. Finally, Farther Finance Advisors LLC raised its position in shares of Innospec by 94.0% during the third quarter. Farther Finance Advisors LLC now owns 675 shares of the specialty chemicals company's stock worth $64,000 after acquiring an additional 327 shares during the last quarter. 96.64% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of equities analysts have issued reports on IOSP shares. Zacks Research cut Innospec from a "hold" rating to a "strong sell" rating in a report on Monday. Wall Street Zen downgraded Innospec from a "strong-buy" rating to a "buy" rating in a research note on Saturday, September 26th. Weiss Ratings lowered shares of Innospec from a "hold (c+)" rating to a "hold (c)" rating in a report on Wednesday, November 4th. Finally, Seaport Research Partners reiterated a "buy" rating and set a $110.00 target price on shares of Innospec in a research report on Thursday, August 6th. One equities research analyst has rated the stock with a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of "Reduce".

About Innospec

Innospec Inc. is a global specialty chemicals company that develops and manufactures products for customers in the fuels, oilfield and performance chemicals markets. Its Fuel Specialties business supplies additives for fuels and lubricants, while its Oilfield Services business provides chemical products and services used in oil and gas operations. Through its Performance Chemicals business, Innospec makes specialty ingredients for applications including personal care, home care and agriculture. Its products are used by industrial and consumer-products manufacturers around the world.

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