Innospec (NASDAQ:IOSP)’s share price reached a new 52-week high and low on Tuesday . The company traded as low as $76.40 and last traded at $73.75, with a volume of 104190 shares changing hands. The stock had previously closed at $73.60.
IOSP has been the subject of a number of analyst reports. Zacks Investment Research lowered shares of Innospec from a “buy” rating to a “hold” rating in a research report on Wednesday, January 10th. BidaskClub raised shares of Innospec from a “hold” rating to a “buy” rating in a research report on Thursday, April 19th. ValuEngine raised shares of Innospec from a “hold” rating to a “buy” rating in a research report on Thursday, March 1st. Finally, Johnson Rice raised shares of Innospec from an “accumulate” rating to a “buy” rating in a research report on Tuesday. Two equities research analysts have rated the stock with a hold rating and four have given a buy rating to the stock. Innospec has a consensus rating of “Buy” and a consensus price target of $70.50.
The company has a debt-to-equity ratio of 0.26, a quick ratio of 1.34 and a current ratio of 2.15. The stock has a market cap of $1,828.52, a price-to-earnings ratio of 16.08 and a beta of 1.03.
In related news, VP Philip John Boon sold 501 shares of the company’s stock in a transaction that occurred on Wednesday, February 21st. The shares were sold at an average price of $67.04, for a total transaction of $33,587.04. Following the completion of the transaction, the vice president now owns 35,439 shares of the company’s stock, valued at $2,375,830.56. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, VP Catherine Hessner sold 1,382 shares of the company’s stock in a transaction that occurred on Monday, February 26th. The stock was sold at an average price of $68.24, for a total transaction of $94,307.68. Following the transaction, the vice president now directly owns 27,518 shares of the company’s stock, valued at approximately $1,877,828.32. The disclosure for this sale can be found here. Insiders have sold 12,112 shares of company stock valued at $832,724 in the last ninety days. 2.22% of the stock is currently owned by company insiders.
Hedge funds have recently modified their holdings of the stock. C M Bidwell & Associates Ltd. acquired a new position in Innospec during the fourth quarter worth approximately $142,000. Xact Kapitalforvaltning AB acquired a new position in Innospec during the fourth quarter worth approximately $222,000. Amalgamated Bank acquired a new position in Innospec during the fourth quarter worth approximately $245,000. Quadrature Capital Ltd acquired a new position in Innospec during the fourth quarter worth approximately $258,000. Finally, Meadow Creek Investment Management LLC increased its position in Innospec by 29.1% during the fourth quarter. Meadow Creek Investment Management LLC now owns 3,724 shares of the specialty chemicals company’s stock worth $263,000 after purchasing an additional 840 shares during the last quarter. 90.80% of the stock is owned by hedge funds and other institutional investors.
Innospec Inc develops, manufactures, blends, markets, and supplies specialty chemicals for use as fuel additives, ingredients for personal care, home care, agrochemical, mining and other applications, and oilfield chemicals worldwide. It operates through four segments: Fuel Specialties, Performance Chemicals, Oilfield Services, and Octane Additives.
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