Innospec (NASDAQ:IOSP) Releases Quarterly Earnings Results, Hits Estimates

Innospec (NASDAQ:IOSP) released its quarterly earnings results on Tuesday. The specialty chemicals company reported $1.35 EPS for the quarter, hitting analysts’ consensus estimates of $1.35, Briefing.com reports. The business had revenue of $443.40 million for the quarter, compared to analyst estimates of $442.13 million. Innospec had a net margin of 7.90% and a return on equity of 14.15%. Innospec’s revenue for the quarter was down 4.5% compared to the same quarter last year. During the same period last year, the firm earned $1.59 earnings per share.

Innospec Trading Up 13.1 %

NASDAQ IOSP traded up $14.56 during midday trading on Wednesday, hitting $125.69. The company had a trading volume of 152,293 shares, compared to its average volume of 106,281. The company has a market capitalization of $3.13 billion, a PE ratio of 20.98 and a beta of 1.08. Innospec has a twelve month low of $98.55 and a twelve month high of $133.71. The firm has a 50-day moving average price of $111.12 and a 200-day moving average price of $118.78.

Insider Buying and Selling

In related news, CFO Ian Cleminson sold 6,602 shares of the company’s stock in a transaction dated Friday, August 23rd. The shares were sold at an average price of $113.60, for a total transaction of $749,987.20. Following the completion of the sale, the chief financial officer now owns 16,394 shares of the company’s stock, valued at $1,862,358.40. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. 1.35% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

Separately, StockNews.com cut shares of Innospec from a “strong-buy” rating to a “buy” rating in a report on Thursday, August 8th.

Innospec Company Profile

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.