Q1 2024 Earnings Estimate for Innospec Inc. (NASDAQ:IOSP) Issued By Seaport Res Ptn

Innospec Inc. (NASDAQ:IOSP) – Equities researchers at Seaport Res Ptn boosted their Q1 2024 earnings per share estimates for Innospec in a research report issued to clients and investors on Wednesday, April 17th. Seaport Res Ptn analyst M. Harrison now forecasts that the specialty chemicals company will earn $1.68 per share for the quarter, up from their prior estimate of $1.67. The consensus estimate for Innospec’s current full-year earnings is $6.72 per share. Seaport Res Ptn also issued estimates for Innospec’s Q2 2024 earnings at $1.57 EPS, Q3 2024 earnings at $1.70 EPS, Q4 2024 earnings at $1.82 EPS, FY2024 earnings at $6.78 EPS and FY2025 earnings at $7.48 EPS.

Innospec Trading Up 0.2 %

Shares of Innospec stock opened at $120.82 on Thursday. The stock has a 50 day moving average of $124.22 and a 200 day moving average of $115.04. Innospec has a 12 month low of $91.74 and a 12 month high of $131.18. The firm has a market cap of $3.01 billion, a PE ratio of 21.69 and a beta of 1.10.

Innospec (NASDAQ:IOSP) last announced its quarterly earnings results on Tuesday, February 13th. The specialty chemicals company reported $1.84 EPS for the quarter, beating analysts’ consensus estimates of $1.59 by $0.25. Innospec had a return on equity of 13.69% and a net margin of 7.14%. The company had revenue of $494.70 million during the quarter, compared to analyst estimates of $479.47 million. During the same period in the prior year, the company earned $1.20 earnings per share. The firm’s revenue was down 3.1% on a year-over-year basis.

Institutional Investors Weigh In On Innospec

A number of institutional investors and hedge funds have recently modified their holdings of IOSP. JPMorgan Chase & Co. boosted its holdings in Innospec by 7.4% during the 1st quarter. JPMorgan Chase & Co. now owns 104,796 shares of the specialty chemicals company’s stock valued at $9,699,000 after acquiring an additional 7,181 shares during the period. Bank of New York Mellon Corp boosted its holdings in Innospec by 1.9% during the 1st quarter. Bank of New York Mellon Corp now owns 305,809 shares of the specialty chemicals company’s stock valued at $28,302,000 after acquiring an additional 5,638 shares during the period. American Century Companies Inc. boosted its holdings in Innospec by 20.3% during the 1st quarter. American Century Companies Inc. now owns 5,934 shares of the specialty chemicals company’s stock valued at $549,000 after acquiring an additional 1,002 shares during the period. Citigroup Inc. boosted its holdings in Innospec by 11.9% during the 1st quarter. Citigroup Inc. now owns 21,356 shares of the specialty chemicals company’s stock valued at $1,976,000 after acquiring an additional 2,264 shares during the period. Finally, PNC Financial Services Group Inc. boosted its holdings in Innospec by 8.6% during the 1st quarter. PNC Financial Services Group Inc. now owns 1,783 shares of the specialty chemicals company’s stock valued at $165,000 after acquiring an additional 141 shares during the period. 96.64% of the stock is owned by institutional investors.

Insider Activity at Innospec

In related news, Director Leslie J. Parrette acquired 410 shares of the stock in a transaction dated Thursday, February 22nd. The stock was acquired at an average cost of $123.96 per share, with a total value of $50,823.60. Following the purchase, the director now directly owns 3,620 shares of the company’s stock, valued at $448,735.20. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In related news, Director Leslie J. Parrette acquired 410 shares of the stock in a transaction dated Thursday, February 22nd. The stock was acquired at an average cost of $123.96 per share, with a total value of $50,823.60. Following the purchase, the director now directly owns 3,620 shares of the company’s stock, valued at $448,735.20. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, SVP David B. Jones sold 2,500 shares of the firm’s stock in a transaction that occurred on Friday, March 1st. The shares were sold at an average price of $125.79, for a total value of $314,475.00. Following the completion of the sale, the senior vice president now directly owns 9,664 shares of the company’s stock, valued at $1,215,634.56. The disclosure for this sale can be found here. Over the last three months, insiders sold 36,500 shares of company stock valued at $4,532,959. Insiders own 1.52% of the company’s stock.

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.