NEW YORK ( TheStreet) -- Shares of Innospec (Nasdaq: IOSP) were gapping up Monday morning with an open price 14% higher than Friday's closing price. The stock closed at $26.35 Friday and opened today's trading at $30.05. The average volume for Innospec has been 87,300 shares per day over the past 30 days. Innospec has a market cap of $626.9 million and is part of the basic materials sector and chemicals industry. Shares are up 29.2% year to date as of the close of trading on Friday. Innospec Inc. engages in the development, manufacture, blending, and marketing of fuel additives and other specialty chemicals to oil refineries, and other chemical and industrial companies worldwide. The company has a P/E ratio of 8.9, equal to the average chemicals industry P/E ratio and below the S&P 500 P/E ratio of 21.9. TheStreet Ratings rates Innospec as a buy. The company's strengths can be seen in multiple areas, such as its solid stock price performance, impressive record of earnings per share growth, compelling growth in net income, revenue growth and largely solid financial position with reasonable debt levels by most measures. We feel these strengths outweigh the fact that the company shows weak operating cash flow. You can view the full Innospec Ratings Report. Get more investment ideas from our investment research center.