Innospec Inc. (NASDAQ:IOSP – Get Free Report)’s stock price hit a new 52-week high during trading on Tuesday . The stock traded as high as $94.56 and last traded at $94.09, with a volume of 33628 shares trading hands. The stock had previously closed at $92.89.
Wall Street Analysts Forecast Growth
A number of brokerages recently issued reports on IOSP. Weiss Ratings upgraded Innospec from a “hold (c-)” rating to a “hold (c)” rating in a report on Thursday, August 6th. Wall Street Zen upgraded Innospec from a “buy” rating to a “strong-buy” rating in a research report on Saturday, August 8th. Zacks Research raised Innospec from a “strong sell” rating to a “hold” rating in a research note on Friday, April 24th. Finally, Seaport Research Partners restated a “buy” rating and set a $110.00 target price on shares of Innospec in a report on Thursday, August 6th. Two investment analysts have rated the stock with a Hold rating, Based on data from MarketBeat, Innospec currently has a consensus rating of “Hold”.
Check Out Our Latest Research Report on IOSP
Innospec Stock Down 0.9%
Innospec (NASDAQ:IOSP – Get Free Report) last issued its quarterly earnings data on Tuesday, August 4th. The specialty chemicals company reported $1.27 EPS 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 analyst estimates of $457.25 million. Innospec had a net margin of 6.60% and a return on equity of 9.22%. Innospec’s quarterly revenue was up 11.8% compared to the same quarter last year. During the same period last year, the business posted $1.26 earnings per share. As a group, equities research analysts anticipate that Innospec Inc. will post 5.03 EPS for the current fiscal year.
Institutional Inflows and Outflows
Institutional investors have recently made changes to their positions in the company. State of Wyoming lifted its position in Innospec by 27.5% during the second quarter. State of Wyoming now owns 801 shares of the specialty chemicals company’s stock valued at $67,000 after buying an additional 173 shares during the period. California State Teachers Retirement System grew its position in shares of Innospec by 0.8% in the 2nd quarter. California State Teachers Retirement System now owns 23,062 shares of the specialty chemicals company’s stock worth $1,939,000 after buying an additional 179 shares during the period. Franklin Resources Inc. grew its position in shares of Innospec by 0.7% in the 3rd quarter. Franklin Resources Inc. now owns 27,868 shares of the specialty chemicals company’s stock worth $2,150,000 after buying an additional 196 shares during the period. Amundi increased its stake in shares of Innospec by 5.0% in the 3rd quarter. Amundi now owns 4,490 shares of the specialty chemicals company’s stock worth $354,000 after acquiring an additional 214 shares in the last quarter. Finally, Inspire Investing LLC increased its stake in shares of Innospec by 3.6% in the 4th quarter. Inspire Investing LLC now owns 6,086 shares of the specialty chemicals company’s stock worth $466,000 after acquiring an additional 214 shares in the last quarter. 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.
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