Key Points
- Innospec director Leslie Parrette bought 345 shares for about $27,493 at $79.69 per share, increasing their holding by 4.68% to 7,721 shares.
- Innospec beat quarterly earnings expectations, reporting EPS of $1.29 versus $1.26 forecast, while revenue rose 7.2% year over year to $473.6 million—below analyst estimates.
- Analyst sentiment was cautious overall: MarketBeat listed an average rating of “Reduce,” including a recent Zacks downgrade to “strong sell.”
Innospec Inc. (NASDAQ:IOSP - Get Free Report) Director Leslie Parrette purchased 345 shares of Innospec stock in a transaction on Tuesday, November 10th. The shares were acquired at an average price of $79.69 per share, with a total value of $27,493.05. Following the transaction, the director directly owned 7,721 shares in the company, valued at $615,286.49. This trade represents a 4.68% increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink.
Innospec Stock Performance
NASDAQ:IOSP opened at $79.11 on Friday. Innospec Inc. has a 1 year low of $65.51 and a 1 year high of $102.00. The stock has a market cap of $1.95 billion, a price-to-earnings ratio of 13.95, a PEG ratio of 3.12 and a beta of 0.88. The business has a fifty day moving average of $94.09 and a 200-day moving average of $84.54.
Innospec (NASDAQ:IOSP - Get Free Report) last issued its quarterly earnings results on Tuesday, November 3rd. The specialty chemicals company reported $1.29 EPS for the quarter, beating analysts' consensus estimates of $1.26 by $0.03. Innospec had a return on equity of 9.36% and a net margin of 7.49%. The company had revenue of $473.60 million for the quarter, compared to analyst estimates of $479.17 million. During the same period last year, the company earned $1.12 earnings per share. The company's quarterly revenue was up 7.2% compared to the same quarter last year. On average, equities research analysts predict that Innospec Inc. will post 5.03 EPS for the current year.
Hedge Funds Weigh In On Innospec
Several hedge funds have recently modified their holdings of IOSP. Brighton Jones LLC increased its position in shares of Innospec by 6.8% during the 3rd quarter. Brighton Jones LLC now owns 3,456 shares of the specialty chemicals company's stock valued at $329,000 after purchasing an additional 221 shares during the period. Root Financial Partners LLC bought a new stake in shares of Innospec in the 3rd quarter worth $30,000. Farther Finance Advisors LLC lifted its holdings in shares of Innospec by 94.0% in the third quarter. Farther Finance Advisors LLC now owns 675 shares of the specialty chemicals company's stock valued at $64,000 after buying an additional 327 shares during the period. Allworth Financial LP lifted its holdings in shares of Innospec by 40.9% in the second quarter. Allworth Financial LP now owns 1,310 shares of the specialty chemicals company's stock valued at $107,000 after buying an additional 380 shares during the period. Finally, Diversified Trust Co lifted its holdings in shares of Innospec by 3.1% in the third quarter. Diversified Trust Co now owns 13,021 shares of the specialty chemicals company's stock valued at $1,241,000 after buying an additional 396 shares during the period. 96.64% of the stock is currently owned by institutional investors and hedge funds.
Analysts Set New Price Targets
A number of brokerages recently issued reports on IOSP. Zacks Research lowered shares of Innospec from a "hold" rating to a "strong sell" rating in a research report on Monday. Weiss Ratings downgraded shares of Innospec from a "hold (c+)" rating to a "hold (c)" rating in a research report on Wednesday, November 4th. Wall Street Zen lowered shares of Innospec from a "strong-buy" rating to a "buy" rating in a research note on Saturday, September 26th. Finally, Seaport Research Partners reiterated a "buy" rating and issued a $110.00 price objective on shares of Innospec in a report on Thursday, August 6th. One research analyst has rated the stock with a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, Innospec has an average rating of "Reduce".
Check Out Our Latest Report on Innospec
About Innospec
(
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Innospec Inc. is a global specialty chemicals company that develops and manufactures products for customers in the fuels, oilfield and performance chemicals markets. Its Fuel Specialties business supplies additives for fuels and lubricants, while its Oilfield Services business provides chemical products and services used in oil and gas operations. Through its Performance Chemicals business, Innospec makes specialty ingredients for applications including personal care, home care and agriculture. Its products are used by industrial and consumer-products manufacturers around the world.
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