Innospec (NASDAQ:IOSP) Posts Quarterly Earnings Results, Beats Estimates By $0.22 EPS

Innospec (NASDAQ:IOSP) announced its quarterly earnings data on Tuesday. The specialty chemicals company reported $1.27 earnings per share for the quarter, beating the consensus estimate of $1.05 by $0.22, Zacks reports. Innospec had a net margin of 6.38% and a return on equity of 9.32%. The firm’s revenue for the quarter was up 11.8% compared to the same quarter last year. During the same quarter last year, the company earned $1.26 EPS.

Innospec Stock Performance

Shares of Innospec stock traded up $1.22 during trading hours on Tuesday, reaching $86.70. The company’s stock had a trading volume of 174,795 shares, compared to its average volume of 208,133. Innospec has a one year low of $65.51 and a one year high of $92.14. The company has a market capitalization of $2.14 billion, a P/E ratio of 18.89, a P/E/G ratio of 2.37 and a beta of 0.93. The stock’s fifty day simple moving average is $83.12 and its two-hundred day simple moving average is $79.45.

Institutional Investors Weigh In On Innospec

Institutional investors and hedge funds have recently made changes to their positions in the business. Captrust Financial Advisors boosted its stake in Innospec by 13.7% during the 4th quarter. Captrust Financial Advisors now owns 3,360 shares of the specialty chemicals company’s stock valued at $257,000 after purchasing an additional 406 shares during the last quarter. CIBC Bancorp USA Inc. purchased a new stake in shares of Innospec in the third quarter worth approximately $207,000. Polymer Capital Management US LLC raised its stake in shares of Innospec by 46.2% in the third quarter. Polymer Capital Management US LLC now owns 4,910 shares of the specialty chemicals company’s stock worth $379,000 after purchasing an additional 1,552 shares during the last quarter. Amundi lifted its holdings in shares of Innospec by 5.0% in the third quarter. Amundi now owns 4,490 shares of the specialty chemicals company’s stock valued at $354,000 after purchasing an additional 214 shares in the last quarter. Finally, Man Group plc lifted its holdings in shares of Innospec by 8.2% in the third quarter. Man Group plc now owns 4,918 shares of the specialty chemicals company’s stock valued at $379,000 after purchasing an additional 374 shares in the last quarter. Institutional investors and hedge funds own 96.64% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts recently commented on the company. Wall Street Zen raised Innospec from a “hold” rating to a “buy” rating in a research report on Saturday, July 18th. Zacks Research upgraded Innospec from a “strong sell” rating to a “hold” rating in a report on Friday, April 24th. Finally, Weiss Ratings raised Innospec from a “sell (d+)” rating to a “hold (c-)” rating in a research note on Wednesday, July 1st. Two investment analysts have rated the stock with a Hold rating, Based on data from MarketBeat.com, Innospec presently has a consensus rating of “Hold”.

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.