Innospec Inc. (NASDAQ:IOSP) Short Interest Update

Innospec Inc. (NASDAQ:IOSP) was the recipient of a significant decrease in short interest during the month of August. As of August 31st, there was short interest totalling 302,900 shares, a decrease of 24.4% from the August 15th total of 400,500 shares. Approximately 1.3% of the company’s stock are short sold. Based on an average daily trading volume, of 98,200 shares, the short-interest ratio is currently 3.1 days.

Several brokerages have commented on IOSP. TheStreet downgraded Innospec from a “b-” rating to a “c+” rating in a report on Wednesday, August 5th. BidaskClub downgraded Innospec from a “sell” rating to a “strong sell” rating in a report on Friday, August 28th.

Innospec stock traded up $0.01 during mid-day trading on Wednesday, hitting $67.59. 138,118 shares of the company were exchanged, compared to its average volume of 116,821. The company has a quick ratio of 1.32, a current ratio of 2.43 and a debt-to-equity ratio of 0.04. The business has a fifty day moving average of $75.74 and a 200 day moving average of $74.47. Innospec has a 1-year low of $56.71 and a 1-year high of $107.85. The company has a market capitalization of $1.66 billion, a PE ratio of 31.12 and a beta of 1.28.

Innospec (NASDAQ:IOSP) last released its quarterly earnings data on Tuesday, August 4th. The specialty chemicals company reported ($0.18) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.31 by ($0.49). Innospec had a return on equity of 11.10% and a net margin of 3.96%. The company had revenue of $244.90 million for the quarter, compared to analyst estimates of $278.65 million. During the same quarter in the prior year, the company earned $1.12 earnings per share. The business’s revenue was down 32.4% compared to the same quarter last year.

In related news, CEO Patrick Williams sold 8,000 shares of the stock in a transaction that occurred on Monday, August 10th. The stock was sold at an average price of $80.27, for a total value of $642,160.00. Following the transaction, the chief executive officer now owns 171,195 shares in the company, valued at $13,741,822.65. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Corporate insiders own 1.42% of the company’s stock.

A number of institutional investors have recently added to or reduced their stakes in the business. Wells Fargo & Company MN raised its stake in Innospec by 13.7% during the first quarter. Wells Fargo & Company MN now owns 1,473,190 shares of the specialty chemicals company’s stock worth $102,372,000 after acquiring an additional 177,350 shares in the last quarter. State Street Corp increased its stake in shares of Innospec by 6.4% in the first quarter. State Street Corp now owns 756,281 shares of the specialty chemicals company’s stock valued at $52,554,000 after buying an additional 45,385 shares in the last quarter. Champlain Investment Partners LLC increased its stake in shares of Innospec by 2.7% in the first quarter. Champlain Investment Partners LLC now owns 682,775 shares of the specialty chemicals company’s stock valued at $47,446,000 after buying an additional 18,130 shares in the last quarter. Janus Henderson Group PLC increased its position in Innospec by 2.6% in the first quarter. Janus Henderson Group PLC now owns 535,678 shares of the specialty chemicals company’s stock worth $37,224,000 after purchasing an additional 13,531 shares during the period. Finally, Geode Capital Management LLC increased its position in Innospec by 6.7% in the first quarter. Geode Capital Management LLC now owns 384,365 shares of the specialty chemicals company’s stock worth $26,709,000 after purchasing an additional 24,217 shares during the period. Hedge funds and other institutional investors own 94.42% of the company’s stock.

About Innospec

Innospec Inc develops, manufactures, blends, markets, and supplies specialty chemicals worldwide. It operates through four segments: Fuel Specialties, Performance Chemicals, Oilfield Services, and Octane Additives. The Fuel Specialties segment offers a range of specialty chemical products used as additives in various fuels.

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