Innospec (NASDAQ:IOSP) Announces Earnings Results

Innospec (NASDAQ:IOSP) announced its earnings results on Tuesday. The specialty chemicals company reported $1.50 EPS for the quarter, beating analysts’ consensus estimates of $1.26 by $0.24, Zacks reports. Innospec had a net margin of 6.56% and a return on equity of 10.26%. The business had revenue of $455.60 million during the quarter, compared to analysts’ expectations of $460.87 million. During the same period in the prior year, the company earned $1.41 earnings per share. The business’s revenue was down 2.4% compared to the same quarter last year.

Innospec Trading Up 0.3%

Innospec stock opened at $86.36 on Thursday. The stock has a 50-day moving average price of $81.02 and a 200 day moving average price of $79.27. Innospec has a 52 week low of $70.10 and a 52 week high of $106.00. The stock has a market cap of $2.14 billion, a PE ratio of 18.45 and a beta of 0.91.

Analyst Ratings Changes

A number of research firms recently weighed in on IOSP. Zacks Research upgraded Innospec from a “strong sell” rating to a “hold” rating in a research note on Tuesday, January 6th. Wall Street Zen upgraded shares of Innospec from a “hold” rating to a “buy” rating in a report on Saturday, December 13th. Finally, Weiss Ratings reissued a “sell (d+)” rating on shares of Innospec in a report on Monday, December 22nd. One research analyst has rated the stock with a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, the company has an average rating of “Reduce”.

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in the business. Baird Financial Group Inc. raised its stake in Innospec by 11.5% during the first quarter. Baird Financial Group Inc. now owns 2,170 shares of the specialty chemicals company’s stock worth $206,000 after purchasing an additional 223 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its holdings in Innospec by 4.5% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 14,833 shares of the specialty chemicals company’s stock worth $1,405,000 after purchasing an additional 645 shares during the last quarter. Millennium Management LLC raised its holdings in Innospec by 8,176.5% in the first quarter. Millennium Management LLC now owns 170,414 shares of the specialty chemicals company’s stock valued at $16,147,000 after acquiring an additional 168,355 shares in the last quarter. NewEdge Advisors LLC lifted its holdings in Innospec by 37.4% during the 1st quarter. NewEdge Advisors LLC now owns 4,567 shares of the specialty chemicals company’s stock worth $433,000 after buying an additional 1,243 shares during the last quarter. Finally, Goldman Sachs Group Inc. increased its stake in Innospec by 6.4% during the first quarter. Goldman Sachs Group Inc. now owns 132,399 shares of the specialty chemicals company’s stock valued at $12,545,000 after purchasing an additional 8,014 shares during the last quarter. Hedge funds and other institutional investors 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.