Corbin Barnes Sells 2,692 Shares of Innospec Inc. (NASDAQ:IOSP) 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 transaction of $278,083.60. Following the transaction, the senior vice president now directly owns 8,051 shares in the company, valued at $831,668.30. The trade was a 25.06 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this link.

Innospec Stock Up 2.3 %

NASDAQ:IOSP opened at $104.38 on Wednesday. The company has a market cap of $2.61 billion, a P/E ratio of 73.51 and a beta of 1.09. Innospec Inc. has a fifty-two week low of $99.49 and a fifty-two week high of $133.71. The firm’s 50 day moving average is $110.41 and its two-hundred day moving average is $112.37.

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

Hedge Funds Weigh In On Innospec

Large investors have recently bought and sold shares of the stock. Blue Trust Inc. increased its position in shares of Innospec by 503.9% in 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 in the last quarter. Murphy & Mullick Capital Management Corp acquired a new stake in shares of Innospec in the fourth quarter worth $106,000. Covestor Ltd increased its position in shares of Innospec by 13.9% in the fourth quarter. Covestor Ltd now owns 967 shares of the specialty chemicals company’s stock worth $106,000 after acquiring an additional 118 shares in the last quarter. KBC Group NV increased its position 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 worth $136,000 after acquiring an additional 558 shares in the last quarter. Finally, Smartleaf Asset Management LLC increased its position in shares of Innospec by 91.9% in the fourth quarter. Smartleaf Asset Management LLC now owns 1,802 shares of the specialty chemicals company’s stock worth $198,000 after acquiring an additional 863 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 downgraded shares of Innospec from a “strong-buy” rating to a “buy” rating in a research note on Saturday, January 11th.

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.