Hardy Louis Griffin III Sells 161 Shares of Innospec Inc. (NASDAQ:IOSP) Stock

Innospec Inc. (NASDAQ:IOSP) SVP Hardy Louis Griffin III sold 161 shares of the company’s stock in a transaction on Monday, November 18th. The shares were sold at an average price of $117.52, for a total value of $18,920.72. Following the completion of the sale, the senior vice president now owns 4,523 shares in the company, valued at $531,542.96. This represents a 3.44 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink.

Innospec Stock Up 0.6 %

Innospec stock traded up $0.65 during trading hours on Thursday, hitting $115.61. 85,987 shares of the company traded hands, compared to its average volume of 107,984. Innospec Inc. has a 1-year low of $103.65 and a 1-year high of $133.71. The firm has a market cap of $2.88 billion, a P/E ratio of 20.18 and a beta of 1.09. The firm’s 50-day simple moving average is $113.50 and its two-hundred day simple moving average is $114.41.

Innospec (NASDAQ:IOSP) last posted its quarterly earnings results on Tuesday, November 5th. The specialty chemicals company reported $1.35 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $1.35. The business had revenue of $443.40 million during the quarter, compared to analyst estimates of $442.13 million. Innospec had a net margin of 7.68% and a return on equity of 13.33%. The firm’s revenue was down 4.5% compared to the same quarter last year. During the same period in the prior year, the firm earned $1.59 earnings per share. On average, equities research analysts predict that Innospec Inc. will post 5.88 earnings per share for the current year.

Innospec Increases Dividend

The business also recently announced a Semi-Annual dividend, which was paid on Tuesday, November 26th. Stockholders of record on Monday, November 18th were issued a $0.79 dividend. The ex-dividend date was Monday, November 18th. This is a boost from Innospec’s previous Semi-Annual dividend of $0.72. This represents a dividend yield of 1.3%. Innospec’s dividend payout ratio is presently 27.57%.

Institutional Trading of Innospec

Hedge funds and other institutional investors have recently made changes to their positions in the business. Blue Trust Inc. increased its holdings in Innospec by 503.9% in the third quarter. Blue Trust Inc. now owns 779 shares of the specialty chemicals company’s stock valued at $96,000 after purchasing an additional 650 shares during the last quarter. nVerses Capital LLC increased its stake in Innospec by 200.0% in the 3rd quarter. nVerses Capital LLC now owns 900 shares of the specialty chemicals company’s stock valued at $102,000 after buying an additional 600 shares during the last quarter. KBC Group NV boosted its position in Innospec by 82.3% during the fourth quarter. KBC Group NV now owns 1,236 shares of the specialty chemicals company’s stock valued at $136,000 after purchasing an additional 558 shares during the last quarter. Point72 Asset Management L.P. bought a new position in shares of Innospec in the third quarter valued at $215,000. Finally, Sanctuary Advisors LLC acquired a new position in shares of Innospec during the 2nd quarter worth about $233,000. 96.64% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Separately, StockNews.com lowered shares of Innospec from a “strong-buy” rating to a “buy” rating in a report on Saturday, January 11th.

Innospec Company Profile

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.