Shares of Innospec Inc. (NASDAQ:IOSP – Get Free Report) hit a new 52-week high during mid-day trading on Friday following a stronger than expected earnings report. The company traded as high as $133.71 and last traded at $132.02, with a volume of 31166 shares. The stock had previously closed at $126.30.
The specialty chemicals company reported $1.75 earnings per share for the quarter, topping analysts’ consensus estimates of $1.64 by $0.11. The business had revenue of $500.20 million during the quarter, compared to the consensus estimate of $508.15 million. Innospec had a return on equity of 13.69% and a net margin of 7.14%.
Insider Activity at Innospec
In related news, CEO Patrick Williams sold 9,667 shares of the company’s stock in a transaction on Friday, February 23rd. The shares were sold at an average price of $124.37, for a total value of $1,202,284.79. Following the completion of the transaction, the chief executive officer now directly owns 174,334 shares in the company, valued at $21,681,919.58. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other Innospec news, CEO Patrick Williams sold 9,667 shares of the business’s stock in a transaction on Friday, February 23rd. The shares were sold at an average price of $124.37, for a total value of $1,202,284.79. Following the completion of the sale, the chief executive officer now directly owns 174,334 shares of the company’s stock, valued at $21,681,919.58. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, SVP Hardy Louis Griffin III sold 1,875 shares of the business’s stock in a transaction on Thursday, February 22nd. The stock was sold at an average price of $122.07, for a total transaction of $228,881.25. Following the completion of the sale, the senior vice president now directly owns 5,000 shares of the company’s stock, valued at $610,350. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 36,500 shares of company stock valued at $4,532,959. Corporate insiders own 1.35% of the company’s stock.
Hedge Funds Weigh In On Innospec
Innospec Stock Up 3.2 %
The company has a market capitalization of $3.25 billion, a PE ratio of 22.68 and a beta of 1.11. The company’s 50 day moving average is $124.06 and its two-hundred day moving average is $117.35.
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.
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