Innospec (NASDAQ:IOSP) Reaches New 1-Year High – Here’s What Happened

Innospec Inc. (NASDAQ:IOSP) shares hit a new 52-week high during trading on Wednesday . The stock traded as high as $95.01 and last traded at $94.9160, with a volume of 2190 shares. The stock had previously closed at $93.83.

Wall Street Analyst Weigh In

Several research analysts have recently commented on the company. Weiss Ratings raised Innospec from a “hold (c-)” rating to a “hold (c)” rating in a research note on Thursday, August 6th. Zacks Research raised shares of Innospec from a “strong sell” rating to a “hold” rating in a research note on Friday, April 24th. Wall Street Zen upgraded shares of Innospec from a “buy” rating to a “strong-buy” rating in a report on Saturday, August 8th. Finally, Seaport Research Partners reiterated a “buy” rating and issued a $110.00 price target on shares of Innospec in a research note on Thursday, August 6th. Two analysts have rated the stock with a Hold rating, According to MarketBeat.com, Innospec currently has an average rating of “Hold”.

Innospec Trading Down 0.9%

The company has a market capitalization of $2.29 billion, a PE ratio of 18.96, a PEG ratio of 2.49 and a beta of 0.93. The firm’s 50-day simple moving average is $85.84 and its 200-day simple moving average is $80.55.

Innospec (NASDAQ:IOSP) last issued its earnings results on Tuesday, August 4th. The specialty chemicals company reported $1.27 earnings per share for the quarter, topping the consensus estimate of $1.05 by $0.22. The business had revenue of $491.40 million during the quarter, compared to analysts’ expectations of $457.25 million. Innospec had a return on equity of 9.22% and a net margin of 6.60%.The business’s revenue for the quarter was up 11.8% compared to the same quarter last year. During the same period in the prior year, the business earned $1.26 EPS. As a group, analysts anticipate that Innospec Inc. will post 5.03 EPS for the current year.

Institutional Trading of Innospec

A number of institutional investors and hedge funds have recently added to or reduced their stakes in IOSP. Meeder Asset Management Inc. acquired a new stake in Innospec during the second quarter valued at $36,000. Hantz Financial Services Inc. raised its position in shares of Innospec by 271.0% in the fourth quarter. Hantz Financial Services Inc. now owns 575 shares of the specialty chemicals company’s stock worth $44,000 after acquiring an additional 420 shares during the period. EverSource Wealth Advisors LLC raised its position in shares of Innospec by 1,159.5% in the second quarter. EverSource Wealth Advisors LLC now owns 529 shares of the specialty chemicals company’s stock worth $44,000 after acquiring an additional 487 shares during the period. Danske Bank A S purchased a new stake in shares of Innospec during the 3rd quarter worth about $46,000. Finally, Caitong International Asset Management Co. Ltd boosted its stake in shares of Innospec by 316.4% during the 4th quarter. Caitong International Asset Management Co. Ltd now owns 662 shares of the specialty chemicals company’s stock worth $51,000 after acquiring an additional 503 shares in the last quarter. Institutional investors and hedge funds own 96.64% of the company’s stock.

About Innospec

Innospec Incorporated (NASDAQ: IOSP) is a global specialty chemicals company headquartered in Cleveland, Ohio. The company operates through three principal business segments: Fuel Specialties, Oilfield Services, and Performance Chemicals. In the Fuel Specialties segment, Innospec develops and supplies additives designed to enhance octane levels, improve combustion efficiency, reduce emissions and prevent deposit formation in gasoline and diesel engines. Its Oilfield Services division provides chemical technologies—such as surfactants, corrosion inhibitors and demulsifiers—to support exploration, drilling, production optimization and enhanced oil recovery operations.