Innospec Inc. (NASDAQ:IOSP) Director Sells $127,222.20 in Stock

Innospec Inc. (NASDAQ:IOSP) Director Milton C. Blackmore sold 1,035 shares of Innospec stock in a transaction on Wednesday, November 13th. The stock was sold at an average price of $122.92, for a total transaction of $127,222.20. Following the sale, the director now owns 9,028 shares in the company, valued at $1,109,721.76. This represents a 10.29 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website.

Innospec Price Performance

IOSP stock traded up $0.07 on Thursday, hitting $121.85. 107,168 shares of the company were exchanged, compared to its average volume of 108,993. Innospec Inc. has a twelve month low of $103.97 and a twelve month high of $133.71. The business’s fifty day moving average is $112.24 and its two-hundred day moving average is $118.84. The stock has a market capitalization of $3.04 billion, a price-to-earnings ratio of 21.27 and a beta of 1.08.

Innospec (NASDAQ:IOSP) last posted its quarterly earnings data on Tuesday, November 5th. The specialty chemicals company reported $1.35 EPS for the quarter, meeting analysts’ consensus estimates of $1.35. The firm had revenue of $443.40 million for the quarter, compared to the consensus estimate of $442.13 million. Innospec had a net margin of 7.68% and a return on equity of 13.33%. The firm’s revenue was down 4.5% compared to the same quarter last year. During the same period in the prior year, the firm posted $1.59 EPS. Equities research analysts expect that Innospec Inc. will post 5.88 earnings per share for the current year.

Innospec Increases Dividend

The firm also recently disclosed a Semi-Annual dividend, which will be paid on Tuesday, November 26th. Stockholders of record on Monday, November 18th will be given a dividend of $0.79 per share. This is a positive change from Innospec’s previous Semi-Annual dividend of $0.72. The ex-dividend date is Monday, November 18th. This represents a dividend yield of 1.3%. Innospec’s dividend payout ratio (DPR) is 26.53%.

Wall Street Analyst Weigh In

Separately, StockNews.com downgraded shares of Innospec from a “strong-buy” rating to a “buy” rating in a report on Thursday, August 8th.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the company. Vanguard Group Inc. grew its stake in shares of Innospec by 5.5% in the first quarter. Vanguard Group Inc. now owns 3,115,167 shares of the specialty chemicals company’s stock worth $401,670,000 after acquiring an additional 161,249 shares during the last quarter. Allspring Global Investments Holdings LLC grew its stake in shares of Innospec by 4.6% in the third quarter. Allspring Global Investments Holdings LLC now owns 2,405,770 shares of the specialty chemicals company’s stock worth $272,069,000 after acquiring an additional 105,311 shares during the last quarter. Victory Capital Management Inc. grew its stake in shares of Innospec by 4.8% in the third quarter. Victory Capital Management Inc. now owns 908,032 shares of the specialty chemicals company’s stock worth $102,689,000 after acquiring an additional 41,449 shares during the last quarter. Royce & Associates LP grew its stake in shares of Innospec by 9.3% in the third quarter. Royce & Associates LP now owns 835,333 shares of the specialty chemicals company’s stock worth $94,468,000 after acquiring an additional 70,902 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. grew its stake in shares of Innospec by 3.5% in the third quarter. Charles Schwab Investment Management Inc. now owns 336,522 shares of the specialty chemicals company’s stock worth $38,057,000 after acquiring an additional 11,479 shares during the last quarter. 96.64% of the stock is currently owned by institutional investors and hedge funds.

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.