Insider Selling: Innospec Inc. (NASDAQ:IOSP) Director Sells 652 Shares of Stock

Innospec Inc. (NASDAQ:IOSP) Director Milton C. Blackmore sold 652 shares of the business’s stock in a transaction that occurred on Friday, February 21st. The stock was sold at an average price of $103.30, for a total transaction of $67,351.60. Following the completion of the transaction, the director now owns 8,376 shares of the company’s stock, valued at approximately $865,240.80. The trade was a 7.22 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website.

Innospec Price Performance

NASDAQ IOSP traded down $1.37 during trading hours on Monday, hitting $101.99. The company’s stock had a trading volume of 260,114 shares, compared to its average volume of 133,855. Innospec Inc. has a 12 month low of $99.49 and a 12 month high of $133.71. The company’s 50 day simple moving average is $110.87 and its two-hundred day simple moving average is $112.44. The company has a market cap of $2.55 billion, a P/E ratio of 71.82 and a beta of 1.09.

Innospec (NASDAQ:IOSP) last announced its quarterly earnings results on Tuesday, February 18th. The specialty chemicals company reported $1.41 EPS for the quarter, topping analysts’ consensus estimates of $1.36 by $0.05. The firm had revenue of $466.80 million during the quarter, compared to analyst estimates of $447.43 million. Innospec had a net margin of 1.93% and a return on equity of 12.27%. As a group, research analysts predict that Innospec Inc. will post 6.18 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

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

Institutional Investors Weigh In On Innospec

A number of hedge funds have recently added to or reduced their stakes in the stock. Wasatch Advisors LP grew its holdings in shares of Innospec by 0.6% in the third quarter. Wasatch Advisors LP now owns 1,805,546 shares of the specialty chemicals company’s stock worth $204,189,000 after acquiring an additional 11,231 shares during the period. State Street Corp grew its stake in shares of Innospec by 2.1% during the 3rd quarter. State Street Corp now owns 996,281 shares of the specialty chemicals company’s stock valued at $112,669,000 after purchasing an additional 20,744 shares during the period. Victory Capital Management Inc. grew its stake in shares of Innospec by 1.6% during the 4th quarter. Victory Capital Management Inc. now owns 922,220 shares of the specialty chemicals company’s stock valued at $101,500,000 after purchasing an additional 14,188 shares during the period. Royce & Associates LP lifted its stake in shares of Innospec by 9.3% in the 3rd quarter. Royce & Associates LP now owns 835,333 shares of the specialty chemicals company’s stock worth $94,468,000 after purchasing an additional 70,902 shares during the period. Finally, Geode Capital Management LLC lifted its stake in shares of Innospec by 2.2% in the 4th quarter. Geode Capital Management LLC now owns 692,071 shares of the specialty chemicals company’s stock worth $76,184,000 after purchasing an additional 14,788 shares during the period. 96.64% of the stock is currently owned by hedge funds and other institutional investors.

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.