Innospec Inc. (NASDAQ:IOSP) SVP Sells $278,083.60 in Stock

Innospec Inc. (NASDAQ:IOSP) SVP Corbin Barnes sold 2,692 shares of the company’s stock in a transaction that occurred on Friday, February 21st. The shares were sold at an average price of $103.30, for a total value of $278,083.60. Following the sale, the senior vice president now directly owns 8,051 shares in the company, valued at approximately $831,668.30. This represents a 25.06 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink.

Corbin Barnes also recently made the following trade(s):

• On Monday, February 24th, Corbin Barnes sold 598 shares of Innospec stock. The shares were sold at an average price of $103.06, for a total transaction of $61,629.88.

Innospec Stock Up 0.4 %

Shares of NASDAQ IOSP opened at $104.01 on Friday. The stock has a market capitalization of $2.60 billion, a P/E ratio of 73.25 and a beta of 1.09. The firm’s 50-day moving average price is $110.29 and its two-hundred day moving average price is $112.31. Innospec Inc. has a 52-week low of $99.49 and a 52-week high of $133.71.

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

Analysts Set New Price Targets

Separately, StockNews.com downgraded shares of Innospec from a “buy” rating to a “hold” rating in a research report on Wednesday.

Institutional Investors Weigh In On Innospec

A number of hedge funds have recently added to or reduced their stakes in the stock. Blue Trust Inc. grew its position in shares of Innospec by 503.9% during the third quarter. Blue Trust Inc. now owns 779 shares of the specialty chemicals company’s stock worth $96,000 after acquiring an additional 650 shares during the last quarter. Murphy & Mullick Capital Management Corp acquired a new position in Innospec during the 4th quarter valued at about $106,000. Covestor Ltd grew its position in Innospec by 13.9% in the 4th quarter. Covestor Ltd now owns 967 shares of the specialty chemicals company’s stock worth $106,000 after purchasing an additional 118 shares during the last quarter. KBC Group NV increased its stake in shares of Innospec by 82.3% in 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 period. Finally, Smartleaf Asset Management LLC raised its holdings in shares of Innospec by 91.9% during the fourth quarter. Smartleaf Asset Management LLC now owns 1,802 shares of the specialty chemicals company’s stock valued at $198,000 after buying an additional 863 shares during the last quarter. 96.64% of the stock is currently owned by 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.