BidaskClub upgraded shares of Innospec (NASDAQ:IOSP) from a sell rating to a hold rating in a research note released on Thursday.
Several other equities analysts have also weighed in on the company. ValuEngine upgraded Innospec from a hold rating to a buy rating in a research note on Thursday, March 1st. Zacks Investment Research cut Innospec from a hold rating to a strong sell rating in a report on Friday, February 23rd. Johnson Rice upgraded Innospec from a hold rating to an accumulate rating in a report on Tuesday, November 14th. Monness Crespi & Hardt cut Innospec from a buy rating to a neutral rating in a report on Thursday, November 9th. Finally, KeyCorp reiterated an overweight rating on shares of Innospec in a report on Thursday, November 9th. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and two have given a buy rating to the stock. The company has a consensus rating of Hold and an average price target of $70.50.
Shares of Innospec (NASDAQ:IOSP) traded up $0.85 during trading on Thursday, hitting $69.55. The company had a trading volume of 130,402 shares, compared to its average volume of 133,445. The company has a current ratio of 2.15, a quick ratio of 1.34 and a debt-to-equity ratio of 0.26. Innospec has a 1 year low of $54.10 and a 1 year high of $74.30. The stock has a market cap of $1,693.54, a price-to-earnings ratio of 27.71 and a beta of 1.13.
In related news, VP Philip John Boon sold 501 shares of Innospec stock in a transaction dated Wednesday, February 21st. The stock was sold at an average price of $67.04, for a total value of $33,587.04. Following the sale, the vice president now directly owns 35,439 shares in the company, valued at approximately $2,375,830.56. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, insider David Earl Williams sold 3,142 shares of Innospec stock in a transaction dated Friday, February 23rd. The stock was sold at an average price of $68.54, for a total value of $215,352.68. Following the completion of the sale, the insider now owns 16,676 shares in the company, valued at $1,142,973.04. The disclosure for this sale can be found here. Over the last quarter, insiders sold 8,554 shares of company stock worth $584,767. 2.02% of the stock is currently owned by insiders.
A number of hedge funds have recently bought and sold shares of IOSP. The Manufacturers Life Insurance Company boosted its holdings in Innospec by 1.0% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 18,457 shares of the specialty chemicals company’s stock worth $1,210,000 after buying an additional 182 shares during the last quarter. First Trust Advisors LP boosted its holdings in shares of Innospec by 35.6% during the 3rd quarter. First Trust Advisors LP now owns 32,447 shares of the specialty chemicals company’s stock worth $2,000,000 after purchasing an additional 8,520 shares during the last quarter. Crossmark Global Holdings Inc. acquired a new position in shares of Innospec during the 3rd quarter worth approximately $302,000. Victory Capital Management Inc. boosted its holdings in shares of Innospec by 33.4% during the 3rd quarter. Victory Capital Management Inc. now owns 3,629 shares of the specialty chemicals company’s stock worth $224,000 after purchasing an additional 909 shares during the last quarter. Finally, American Century Companies Inc. boosted its holdings in shares of Innospec by 24.4% during the 3rd quarter. American Century Companies Inc. now owns 449,089 shares of the specialty chemicals company’s stock worth $27,686,000 after purchasing an additional 88,053 shares during the last quarter. Institutional investors own 91.18% of the company’s stock.
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Innospec Company Profile
Innospec Inc is a specialty chemicals company engaged in developing, manufacturing, blending, marketing and supplying of specialty chemicals for use as fuel additives and ingredients for personal care, home care, agrochemical, mining and other applications and oilfield chemicals. The Company operates through four business segments: Fuel Specialties, Performance Chemicals, Oilfield Services and Octane Additives.
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