Q1 2024 EPS Estimates for Innospec Inc. Boosted by Seaport Res Ptn (NASDAQ:IOSP)

Innospec Inc. (NASDAQ:IOSP - Free Report) - Equities research analysts at Seaport Res Ptn upped their Q1 2024 earnings per share (EPS) estimates for shares of Innospec in a report issued on Wednesday, April 17th. Seaport Res Ptn analyst M. Harrison now forecasts that the specialty chemicals company will earn $1.68 per share for the quarter, up from their prior forecast of $1.67. The consensus estimate for Innospec's current full-year earnings is $6.72 per share. Seaport Res Ptn also issued estimates for Innospec's Q2 2024 earnings at $1.57 EPS, Q3 2024 earnings at $1.70 EPS, Q4 2024 earnings at $1.82 EPS, FY2024 earnings at $6.78 EPS and FY2025 earnings at $7.48 EPS.

Innospec (NASDAQ:IOSP - Get Free Report) last issued its earnings results on Tuesday, February 13th. The specialty chemicals company reported $1.84 earnings per share for the quarter, topping the consensus estimate of $1.59 by $0.25. Innospec had a return on equity of 13.69% and a net margin of 7.14%. The firm had revenue of $494.70 million for the quarter, compared to analyst estimates of $479.47 million. During the same period last year, the company earned $1.20 earnings per share. The firm's revenue for the quarter was down 3.1% on a year-over-year basis.

Innospec Stock Up 0.2 %

NASDAQ IOSP traded up $0.30 during trading hours on Thursday, hitting $120.82. The company had a trading volume of 69,221 shares, compared to its average volume of 89,410. Innospec has a fifty-two week low of $91.74 and a fifty-two week high of $131.18. The business has a fifty day simple moving average of $124.22 and a 200-day simple moving average of $115.04. The firm has a market cap of $3.01 billion, a P/E ratio of 21.69 and a beta of 1.10.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of IOSP. Sei Investments Co. boosted its stake in Innospec by 8.7% during the third quarter. Sei Investments Co. now owns 128,506 shares of the specialty chemicals company's stock valued at $13,133,000 after buying an additional 10,268 shares in the last quarter. AMG National Trust Bank bought a new position in Innospec during the third quarter valued at about $907,000. Assenagon Asset Management S.A. bought a new position in Innospec during the third quarter valued at about $1,207,000. Charles Schwab Investment Management Inc. boosted its stake in Innospec by 4.2% during the third quarter. Charles Schwab Investment Management Inc. now owns 298,635 shares of the specialty chemicals company's stock valued at $30,520,000 after buying an additional 12,135 shares in the last quarter. Finally, Diversified Trust Co boosted its stake in Innospec by 1.7% during the fourth quarter. Diversified Trust Co now owns 11,154 shares of the specialty chemicals company's stock valued at $1,375,000 after buying an additional 185 shares in the last quarter. 96.64% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other Innospec news, Director Leslie J. Parrette purchased 410 shares of the stock in a transaction dated Thursday, February 22nd. The shares were bought at an average cost of $123.96 per share, with a total value of $50,823.60. Following the completion of the acquisition, the director now owns 3,620 shares of the company's stock, valued at $448,735.20. The purchase was disclosed in a filing with the SEC, which is available through this link. In other Innospec news, Director Leslie J. Parrette purchased 410 shares of the stock in a transaction dated Thursday, February 22nd. The shares were bought at an average cost of $123.96 per share, with a total value of $50,823.60. Following the completion of the acquisition, the director now owns 3,620 shares of the company's stock, valued at $448,735.20. The purchase was disclosed in a filing with the SEC, which is available through this link. Also, CEO Patrick Williams sold 9,667 shares of the firm's stock in a transaction on Friday, February 23rd. The shares were sold at an average price of $124.37, for a total value of $1,202,284.79. Following the transaction, the chief executive officer now directly owns 174,334 shares in the company, valued at $21,681,919.58. The disclosure for this sale can be found here. Insiders have sold 36,500 shares of company stock valued at $4,532,959 over the last three months. Company insiders own 1.52% of the company's stock.

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.