Innospec (NASDAQ:IOSP) Sets New 52-Week High - Here's Why

Innospec Inc. (NASDAQ:IOSP - Get Free Report) shares hit a new 52-week high on Tuesday. The company traded as high as $100.48 and last traded at $97.88, with a volume of 284659 shares. The stock had previously closed at $98.72.

Analyst Upgrades and Downgrades

IOSP has been the subject of several recent research reports. Weiss Ratings upgraded shares of Innospec from a "hold (c-)" rating to a "hold (c)" rating in a report on Thursday, August 6th. Seaport Research Partners restated a "buy" rating and issued a $110.00 price target on shares of Innospec in a research note on Thursday, August 6th. Finally, Wall Street Zen lowered Innospec from a "strong-buy" rating to a "buy" rating in a research report on Saturday. Two research analysts have rated the stock with a Hold rating, According to MarketBeat.com, the company has a consensus rating of "Hold".

Innospec Trading Down 0.9%

The company has a market cap of $2.41 billion, a P/E ratio of 19.98, a PEG ratio of 2.62 and a beta of 0.93. The stock's 50 day moving average is $92.05 and its 200-day moving average is $83.02.

Innospec (NASDAQ:IOSP - Get Free Report) last released its quarterly earnings data on Tuesday, August 4th. The specialty chemicals company reported $1.27 earnings per share for the quarter, beating analysts' consensus estimates of $1.05 by $0.22. The business had revenue of $491.40 million during the quarter, compared to analyst estimates of $457.25 million. Innospec had a net margin of 6.60% and a return on equity of 9.22%. Innospec's revenue was up 11.8% compared to the same quarter last year. During the same period last year, the business earned $1.26 EPS. As a group, sell-side analysts forecast that Innospec Inc. will post 5.03 EPS for the current year.

Institutional Investors Weigh In On Innospec

Institutional investors and hedge funds have recently made changes to their positions in the company. Meeder Asset Management Inc. bought a new position in shares of Innospec in the 2nd quarter worth approximately $36,000. Hantz Financial Services Inc. lifted its position in Innospec by 271.0% during the fourth quarter. Hantz Financial Services Inc. now owns 575 shares of the specialty chemicals company's stock valued at $44,000 after purchasing an additional 420 shares in the last quarter. Caitong International Asset Management Co. Ltd grew its holdings in Innospec by 316.4% during the fourth quarter. Caitong International Asset Management Co. Ltd now owns 662 shares of the specialty chemicals company's stock valued at $51,000 after purchasing an additional 503 shares during the period. Rockefeller Capital Management L.P. increased its position in Innospec by 125.4% in the fourth quarter. Rockefeller Capital Management L.P. now owns 728 shares of the specialty chemicals company's stock worth $56,000 after buying an additional 405 shares in the last quarter. Finally, Public Employees Retirement System of Ohio purchased a new stake in Innospec in the second quarter worth about $62,000. Institutional investors own 96.64% of the company's stock.

Innospec Company Profile

Innospec Inc NASDAQ: IOSP is a global specialty chemicals company that develops, manufactures and supplies products used in the energy, transportation, personal care, household, agriculture and industrial markets. Its offerings are designed to improve product performance, support manufacturing processes and address specialized customer requirements.

The company operates through businesses focused on fuel specialties, performance chemicals and oilfield services. Its products include fuel additives and performance-enhancing chemicals for gasoline, diesel and other fuels, as well as ingredients and formulations used in personal care, home care, crop protection, construction, mining and other industrial applications.

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