Innospec (NASDAQ:IOSP) Sets New 52-Week Low – Should You Sell?

Innospec Inc. (NASDAQ:IOSP) shares hit a new 52-week low on Friday . The stock traded as low as $95.17 and last traded at $95.97, with a volume of 149645 shares traded. The stock had previously closed at $98.42.

Wall Street Analysts Forecast Growth

Separately, StockNews.com downgraded Innospec from a “buy” rating to a “hold” rating in a research report on Friday, March 14th.

Innospec Trading Down 2.4 %

The firm has a 50-day simple moving average of $106.94 and a two-hundred day simple moving average of $110.87. The company has a market capitalization of $2.40 billion, a price-to-earnings ratio of 67.61 and a beta of 1.08.

Innospec (NASDAQ:IOSP) last posted its earnings results on Tuesday, February 18th. The specialty chemicals company reported $1.41 EPS for the quarter, beating analysts’ consensus estimates of $1.36 by $0.05. Innospec had a return on equity of 12.27% and a net margin of 1.93%. The firm had revenue of $466.80 million for the quarter, compared to analysts’ expectations of $447.43 million. Equities research analysts anticipate that Innospec Inc. will post 6.18 EPS for the current year.

Innospec announced that its board has initiated a stock buyback program on Monday, March 10th that permits the company to repurchase $50.00 million in outstanding shares. This repurchase authorization permits the specialty chemicals company to repurchase up to 2% of its stock through open market purchases. Stock repurchase programs are often an indication that the company’s management believes its stock is undervalued.

Insider Buying and Selling

In related news, VP Philip John Boon sold 3,754 shares of Innospec stock in a transaction dated Friday, February 21st. The stock was sold at an average price of $103.30, for a total value of $387,788.20. Following the sale, the vice president now directly owns 20,079 shares in the company, valued at approximately $2,074,160.70. The trade was a 15.75 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, SVP Corbin Barnes sold 2,692 shares of Innospec stock in a transaction dated Friday, February 21st. The stock was sold at an average price of $103.30, for a total value of $278,083.60. Following the completion of the sale, the senior vice president now owns 8,051 shares in the company, valued at approximately $831,668.30. The trade was a 25.06 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 7,696 shares of company stock worth $794,853. Insiders own 1.52% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors have recently bought and sold shares of the business. Jefferies Financial Group Inc. purchased a new position in Innospec in the 4th quarter worth approximately $2,931,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its stake in Innospec by 16.8% in the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 89,018 shares of the specialty chemicals company’s stock worth $9,797,000 after purchasing an additional 12,825 shares in the last quarter. Westwood Holdings Group Inc. lifted its stake in Innospec by 1.1% in the 4th quarter. Westwood Holdings Group Inc. now owns 298,096 shares of the specialty chemicals company’s stock worth $32,808,000 after purchasing an additional 3,352 shares in the last quarter. Two Sigma Advisers LP lifted its stake in Innospec by 48.5% in the 4th quarter. Two Sigma Advisers LP now owns 10,100 shares of the specialty chemicals company’s stock worth $1,112,000 after purchasing an additional 3,300 shares in the last quarter. Finally, State of Wyoming lifted its stake in Innospec by 167.0% in the 4th quarter. State of Wyoming now owns 1,976 shares of the specialty chemicals company’s stock worth $217,000 after purchasing an additional 1,236 shares in the last quarter. 96.64% of the stock is 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.