Insider Selling: Innospec Inc. (NASDAQ:IOSP) Director Sells $67,351.60 in Stock

Innospec Inc. (NASDAQ:IOSP) Director Milton C. Blackmore sold 652 shares of the firm’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 sale, the director now owns 8,376 shares of the company’s stock, 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 accessible through this hyperlink.

Innospec Price Performance

NASDAQ IOSP opened at $103.57 on Thursday. The company has a market cap of $2.59 billion, a P/E ratio of 72.94 and a beta of 1.09. The stock has a 50-day moving average of $110.29 and a two-hundred day moving average of $112.31. Innospec Inc. has a 1-year low of $99.49 and a 1-year high of $133.71.

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

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in IOSP. Blue Trust Inc. increased its position in 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 buying an additional 650 shares during the period. Raymond James & Associates boosted its stake in shares of Innospec by 10.0% in the third quarter. Raymond James & Associates now owns 83,843 shares of the specialty chemicals company’s stock valued at $9,482,000 after buying an additional 7,616 shares in the last quarter. Assenagon Asset Management S.A. boosted its stake in shares of Innospec by 12.7% in the third quarter. Assenagon Asset Management S.A. now owns 135,369 shares of the specialty chemicals company’s stock valued at $15,309,000 after buying an additional 15,287 shares in the last quarter. New York State Teachers Retirement System grew its holdings in Innospec by 2.6% during the third quarter. New York State Teachers Retirement System now owns 14,781 shares of the specialty chemicals company’s stock worth $1,672,000 after acquiring an additional 371 shares during the period. Finally, US Bancorp DE lifted its holdings in Innospec by 323.6% in the third quarter. US Bancorp DE now owns 5,490 shares of the specialty chemicals company’s stock valued at $621,000 after acquiring an additional 4,194 shares during the period. Hedge funds and other institutional investors own 96.64% of the company’s stock.

Wall Street Analyst Weigh In

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

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.