Innospec (NASDAQ:IOSP) Sets New 52-Week Low – Time to Sell?

Innospec Inc. (NASDAQ:IOSP) shares reached a new 52-week low during trading on Wednesday . The company traded as low as $102.29 and last traded at $101.55, with a volume of 8113 shares. The stock had previously closed at $109.88.

Analysts Set New Price Targets

Separately, StockNews.com cut Innospec from a “strong-buy” rating to a “buy” rating in a research report on Saturday, January 11th.

Innospec Price Performance

The company has a market cap of $2.58 billion, a price-to-earnings ratio of 72.86 and a beta of 1.09. The business’s 50-day simple moving average is $111.12 and its 200-day simple moving average is $112.52.

Innospec (NASDAQ:IOSP) last issued its quarterly earnings data on Tuesday, February 18th. The specialty chemicals company reported $1.41 earnings per share for the quarter, topping analysts’ consensus estimates of $1.36 by $0.05. Innospec had a net margin of 1.93% and a return on equity of 12.27%. The business had revenue of $466.80 million during the quarter, compared to analysts’ expectations of $447.43 million. As a group, sell-side analysts forecast that Innospec Inc. will post 6.18 EPS for the current year.

Institutional Trading of Innospec

Several institutional investors and hedge funds have recently made changes to their positions in IOSP. US Bancorp DE raised its stake in Innospec by 323.6% in the 3rd quarter. US Bancorp DE now owns 5,490 shares of the specialty chemicals company’s stock valued at $621,000 after purchasing an additional 4,194 shares during the last quarter. Charles Schwab Investment Management Inc. grew its holdings in shares of Innospec by 3.5% during the third quarter. Charles Schwab Investment Management Inc. now owns 336,522 shares of the specialty chemicals company’s stock worth $38,057,000 after buying an additional 11,479 shares in the last quarter. JPMorgan Chase & Co. raised its position in shares of Innospec by 24.6% in the third quarter. JPMorgan Chase & Co. now owns 266,688 shares of the specialty chemicals company’s stock valued at $30,160,000 after buying an additional 52,640 shares during the last quarter. HighTower Advisors LLC lifted its stake in shares of Innospec by 5.2% during the third quarter. HighTower Advisors LLC now owns 3,103 shares of the specialty chemicals company’s stock valued at $350,000 after buying an additional 154 shares during the period. Finally, Citigroup Inc. boosted its position in Innospec by 46.1% during the third quarter. Citigroup Inc. now owns 32,193 shares of the specialty chemicals company’s stock worth $3,641,000 after acquiring an additional 10,162 shares during the last quarter. 96.64% of the stock is currently owned by hedge funds and other institutional investors.

About Innospec

Innospec Inc develops, manufactures, blends, markets, and supplies specialty chemicals in the United States, rest of North America, the United Kingdom, rest of Europe, and internationally. The company's Fuel Specialties segment offers a range of specialty chemical products that are used as additives in additives in diesel, jet, marine, fuel oil and other fuels.