Innospec (NASDAQ:IOSP) Announces Earnings Results, Hits Estimates

by · The Cerbat Gem

Innospec (NASDAQ:IOSP – Get Free Report) posted its quarterly earnings results on Tuesday. The specialty chemicals company reported $1.12 EPS for the quarter, hitting analysts’ consensus estimates of $1.12, Zacks reports. Innospec had a return on equity of 10.89% and a net margin of 1.08%.During the same quarter in the previous year, the company earned $1.35 earnings per share. Innospec’s quarterly revenue was down .3% on a year-over-year basis.

Innospec Trading Down 1.9%

IOSP stock traded down $1.39 during mid-day trading on Tuesday, hitting $72.26. 212,699 shares of the company were exchanged, compared to its average volume of 200,765. The business has a 50 day simple moving average of $78.99 and a 200-day simple moving average of $83.51. The stock has a market capitalization of $1.79 billion, a PE ratio of 92.64 and a beta of 1.04. Innospec has a 1-year low of $71.82 and a 1-year high of $128.35.

Institutional Investors Weigh In On Innospec

Hedge funds and other institutional investors have recently made changes to their positions in the business. Public Sector Pension Investment Board raised its position in shares of Innospec by 7.4% in the second quarter. Public Sector Pension Investment Board now owns 84,959 shares of the specialty chemicals company’s stock valued at $7,144,000 after buying an additional 5,838 shares in the last quarter. Tower Research Capital LLC TRC raised its position in shares of Innospec by 2,296.4% in the second quarter. Tower Research Capital LLC TRC now owns 6,710 shares of the specialty chemicals company’s stock valued at $564,000 after buying an additional 6,430 shares in the last quarter. Holocene Advisors LP raised its position in shares of Innospec by 151.6% in the second quarter. Holocene Advisors LP now owns 19,441 shares of the specialty chemicals company’s stock valued at $1,635,000 after buying an additional 11,713 shares in the last quarter. Engineers Gate Manager LP raised its position in shares of Innospec by 25.1% in the second quarter. Engineers Gate Manager LP now owns 39,062 shares of the specialty chemicals company’s stock valued at $3,285,000 after buying an additional 7,827 shares in the last quarter. Finally, Cubist Systematic Strategies LLC raised its position in shares of Innospec by 68.0% in the second quarter. Cubist Systematic Strategies LLC now owns 219,088 shares of the specialty chemicals company’s stock valued at $18,423,000 after buying an additional 88,661 shares in the last quarter. 96.64% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

IOSP has been the subject of a number of research analyst reports. Weiss Ratings cut Innospec from a “hold (c-)” rating to a “sell (d+)” rating in a report on Saturday, October 25th. Wall Street Zen cut Innospec from a “buy” rating to a “hold” rating in a report on Sunday, October 19th. Finally, Zacks Research upgraded shares of Innospec from a “strong sell” rating to a “hold” rating in a research report on Monday, October 6th. One investment analyst has rated the stock with a Strong Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Hold”.

View Our Latest Stock Analysis on Innospec

About Innospec

(Get Free Report)

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.

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