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

Innospec Inc. (NASDAQ:IOSP) Director Milton C. Blackmore sold 652 shares of Innospec stock in a transaction 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 transaction, the director now owns 8,376 shares in the company, valued at $865,240.80. This represents a 7.22 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink.

Innospec Price Performance

Shares of Innospec stock opened at $104.38 on Wednesday. The company’s fifty day simple moving average is $110.41 and its 200-day simple moving average is $112.37. The stock has a market capitalization of $2.61 billion, a PE ratio of 73.51 and a beta of 1.09. Innospec Inc. has a 1-year low of $99.49 and a 1-year high of $133.71.

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

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of the company. Wasatch Advisors LP lifted its stake in shares of Innospec by 0.6% during the 3rd quarter. Wasatch Advisors LP now owns 1,805,546 shares of the specialty chemicals company’s stock valued at $204,189,000 after buying an additional 11,231 shares in the last quarter. State Street Corp lifted 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 buying an additional 20,744 shares in the last quarter. Victory Capital Management Inc. lifted 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 buying an additional 14,188 shares in the last quarter. Royce & Associates LP lifted its stake in shares of Innospec by 9.3% during the 3rd quarter. Royce & Associates LP now owns 835,333 shares of the specialty chemicals company’s stock valued at $94,468,000 after buying an additional 70,902 shares in the last quarter. Finally, Geode Capital Management LLC lifted its stake in shares of Innospec by 2.2% during the 4th quarter. Geode Capital Management LLC now owns 692,071 shares of the specialty chemicals company’s stock valued at $76,184,000 after buying an additional 14,788 shares in the last quarter. Hedge funds and other institutional investors own 96.64% of the company’s stock.

Analyst Ratings Changes

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

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.