Innospec (NASDAQ:IOSP) Stock Rating Lowered by Wall Street Zen

Key Points

• Wall Street Zen has downgraded Innospec (NASDAQ:IOSP) from a "buy" rating to a "hold" rating, reflecting a change in market outlook issued to investors.
• Innospec's latest quarterly earnings revealed an EPS of $1.26, exceeding analysts' estimates of $1.17, although revenue fell slightly short of expectations at $439.70 million.
• Institutional investors hold a significant 96.64% stake in Innospec, with several large firms increasing their holdings during the second quarter.

Innospec (NASDAQ:IOSP - Get Free Report) was downgraded by research analysts at Wall Street Zen from a "buy" rating to a "hold" rating in a research note issued on Saturday.

Innospec Stock Up 1.3%

Shares of NASDAQ:IOSP traded up $1.05 during trading on Friday, reaching $80.26. 14,152 shares of the company's stock traded hands, compared to its average volume of 202,183. Innospec has a fifty-two week low of $74.10 and a fifty-two week high of $128.35. The firm has a market cap of $1.99 billion, a PE ratio of 102.89 and a beta of 1.11. The company has a 50-day simple moving average of $83.42 and a 200-day simple moving average of $87.21.

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, beating analysts' consensus estimates of $1.17 by $0.09. Innospec had a return on equity of 10.89% and a net margin of 1.08%.The firm had revenue of $439.70 million for the quarter, compared to analysts' expectations of $440.70 million. During the same period last year, the firm earned $1.39 EPS. The company's quarterly revenue was up 1.1% on a year-over-year basis. On average, equities research analysts forecast that Innospec will post 6.18 EPS for the current year.

Institutional Investors Weigh In On Innospec

Several institutional investors have recently bought and sold shares of IOSP. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its holdings in shares of Innospec by 3.9% during the 4th quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 14,188 shares of the specialty chemicals company's stock worth $1,562,000 after purchasing an additional 537 shares during the last quarter. Quantinno Capital Management LP purchased a new stake in shares of Innospec during the 4th quarter valued at approximately $237,000. ProShare Advisors LLC raised its position in Innospec by 44.4% in the fourth quarter. ProShare Advisors LLC now owns 7,512 shares of the specialty chemicals company's stock valued at $827,000 after purchasing an additional 2,310 shares during the period. Point72 Asset Management L.P. raised its position in Innospec by 27.6% in the fourth quarter. Point72 Asset Management L.P. now owns 2,425 shares of the specialty chemicals company's stock valued at $267,000 after purchasing an additional 525 shares during the period. Finally, State of Wyoming raised its position in Innospec by 167.0% in the fourth quarter. State of Wyoming now owns 1,976 shares of the specialty chemicals company's stock valued at $217,000 after purchasing an additional 1,236 shares during the period. 96.64% of the stock is currently 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.