Innospec (NASDAQ:IOSP) Posts Quarterly Earnings Results, Beats Expectations By $0.09 EPS

Innospec (NASDAQ:IOSP) issued its quarterly earnings data on Tuesday. The specialty chemicals company reported $1.12 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.03 by $0.09, Zacks reports. Innospec had a return on equity of 10.89% and a net margin of 1.08%.The business had revenue of $441.90 million for the quarter, compared to the consensus estimate of $443.00 million. During the same period in the prior year, the business earned $1.35 earnings per share. The business’s revenue was down .3% on a year-over-year basis.

Innospec Trading Down 1.9%

Innospec stock opened at $72.26 on Wednesday. The firm has a market capitalization of $1.79 billion, a P/E ratio of 92.64 and a beta of 1.04. The stock has a fifty day moving average price of $78.99 and a 200 day moving average price of $83.51. Innospec has a 52 week low of $71.82 and a 52 week high of $128.35.

Institutional Investors Weigh In On Innospec

Several institutional investors and hedge funds have recently added to or reduced their stakes in IOSP. Millennium Management LLC increased its stake in Innospec by 8,176.5% during the first quarter. Millennium Management LLC now owns 170,414 shares of the specialty chemicals company’s stock worth $16,147,000 after acquiring an additional 168,355 shares during the last quarter. Qube Research & Technologies Ltd increased its stake in Innospec by 72.1% during the second quarter. Qube Research & Technologies Ltd now owns 306,761 shares of the specialty chemicals company’s stock worth $25,796,000 after acquiring an additional 128,544 shares during the last quarter. Jane Street Group LLC increased its stake in Innospec by 1,551.5% during the first quarter. Jane Street Group LLC now owns 95,243 shares of the specialty chemicals company’s stock worth $9,024,000 after acquiring an additional 89,476 shares during the last quarter. Cubist Systematic Strategies LLC increased its stake in Innospec by 68.0% during the second quarter. Cubist Systematic Strategies LLC now owns 219,088 shares of the specialty chemicals company’s stock worth $18,423,000 after acquiring an additional 88,661 shares during the last quarter. Finally, AQR Capital Management LLC increased its stake in Innospec by 403.0% during the second quarter. AQR Capital Management LLC now owns 72,024 shares of the specialty chemicals company’s stock worth $6,057,000 after acquiring an additional 57,706 shares during the last quarter. 96.64% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

IOSP has been the topic of several recent research reports. Weiss Ratings downgraded Innospec from a “hold (c-)” rating to a “sell (d+)” rating in a research report on Saturday, October 25th. Wall Street Zen downgraded Innospec from a “buy” rating to a “hold” rating in a research report on Sunday, October 19th. Finally, Zacks Research upgraded Innospec from a “strong sell” rating to a “hold” rating in a research report on Monday, October 6th. One equities research analyst has rated the stock with a Strong Buy rating, one has issued a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, Innospec currently has a consensus rating of “Hold”.

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.