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

Innospec Inc. (NASDAQ:IOSP) Director Milton C. Blackmore sold 652 shares of the business’s stock in a transaction dated Friday, February 21st. The shares were 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 directly owns 8,376 shares of the company’s stock, valued at $865,240.80. The trade was a 7.22 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website.

Innospec Stock Down 0.8 %

IOSP stock opened at $103.57 on Thursday. Innospec Inc. has a 52-week low of $99.49 and a 52-week high of $133.71. The stock’s fifty day simple moving average is $110.29 and its 200-day simple moving average is $112.31. The stock has a market capitalization of $2.59 billion, a price-to-earnings ratio of 72.94 and a beta of 1.09.

Innospec (NASDAQ:IOSP) last posted its quarterly earnings data 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. Innospec had a return on equity of 12.27% and a net margin of 1.93%. The business had revenue of $466.80 million for the quarter, compared to analysts’ expectations of $447.43 million. As a group, analysts anticipate that Innospec Inc. will post 6.18 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Innospec

Several hedge funds have recently made changes to their positions in the business. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its holdings in shares of Innospec by 16.8% during the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 89,018 shares of the specialty chemicals company’s stock worth $9,797,000 after purchasing an additional 12,825 shares during the last quarter. Westwood Holdings Group Inc. boosted its holdings in Innospec by 1.1% in the fourth quarter. Westwood Holdings Group Inc. now owns 298,096 shares of the specialty chemicals company’s stock valued at $32,808,000 after acquiring an additional 3,352 shares during the last quarter. Two Sigma Advisers LP boosted its holdings in Innospec by 48.5% in the fourth quarter. Two Sigma Advisers LP now owns 10,100 shares of the specialty chemicals company’s stock valued at $1,112,000 after acquiring an additional 3,300 shares during the last quarter. State of Wyoming boosted its holdings in Innospec by 167.0% in the fourth quarter. State of Wyoming now owns 1,976 shares of the specialty chemicals company’s stock valued at $217,000 after acquiring an additional 1,236 shares during the last quarter. Finally, Point72 Asset Management L.P. boosted its holdings in Innospec by 27.6% in the fourth quarter. Point72 Asset Management L.P. now owns 2,425 shares of the specialty chemicals company’s stock valued at $267,000 after acquiring an additional 525 shares during the last quarter. Institutional investors and hedge funds own 96.64% of the company’s stock.

Wall Street Analysts Forecast Growth

Separately, StockNews.com cut Innospec from a “buy” rating to a “hold” rating in a report on Wednesday.

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.