ValuEngine lowered shares of Innospec Inc. (NASDAQ:IOSP) from a buy rating to a hold rating in a report published on Monday, August 7th.
A number of other research firms have also recently weighed in on IOSP. BidaskClub cut shares of Innospec from a sell rating to a strong sell rating in a report on Thursday, July 27th. Zacks Investment Research cut shares of Innospec from a strong-buy rating to a hold rating in a report on Wednesday, July 12th.
Shares of Innospec (NASDAQ IOSP) remained flat at $55.30 during midday trading on Monday. 84,693 shares of the stock were exchanged. The firm’s 50 day moving average is $62.49 and its 200-day moving average is $64.32. Innospec has a 52 week low of $54.45 and a 52 week high of $74.75. The firm has a market cap of $1.33 billion, a price-to-earnings ratio of 17.61 and a beta of 1.15.
Innospec (NASDAQ:IOSP) last released its quarterly earnings data on Tuesday, August 8th. The specialty chemicals company reported $1.16 earnings per share for the quarter, topping analysts’ consensus estimates of $1.08 by $0.08. Innospec had a net margin of 7.22% and a return on equity of 14.77%. The company had revenue of $326.30 million for the quarter. On average, analysts anticipate that Innospec will post $4.28 earnings per share for the current fiscal year.
A number of hedge funds have recently added to or reduced their stakes in the company. BlackRock Inc. boosted its stake in Innospec by 2.4% in the second quarter. BlackRock Inc. now owns 3,041,897 shares of the specialty chemicals company’s stock worth $199,396,000 after buying an additional 70,615 shares during the last quarter. FMR LLC raised its position in shares of Innospec by 0.6% in the second quarter. FMR LLC now owns 2,612,586 shares of the specialty chemicals company’s stock worth $171,256,000 after buying an additional 16,353 shares during the period. Vanguard Group Inc. raised its position in shares of Innospec by 3.9% in the second quarter. Vanguard Group Inc. now owns 2,185,201 shares of the specialty chemicals company’s stock worth $143,239,000 after buying an additional 82,013 shares during the period. Dimensional Fund Advisors LP raised its position in shares of Innospec by 1.8% in the first quarter. Dimensional Fund Advisors LP now owns 1,348,607 shares of the specialty chemicals company’s stock worth $87,321,000 after buying an additional 23,252 shares during the period. Finally, Wells Fargo & Company MN raised its position in shares of Innospec by 6.1% in the second quarter. Wells Fargo & Company MN now owns 946,319 shares of the specialty chemicals company’s stock worth $62,031,000 after buying an additional 54,048 shares during the period. 91.53% of the stock is currently owned by institutional investors.
About Innospec
Innospec Inc is a specialty chemicals company engaged in developing, manufacturing, blending, marketing and supplying of specialty chemicals for use as fuel additives and ingredients for personal care, home care, agrochemical, mining and other applications and oilfield chemicals. The Company operates through four business segments: Fuel Specialties, Performance Chemicals, Oilfield Services and Octane Additives.
To view ValuEngine’s full report, visit ValuEngine’s official website.
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