Innospec Inc. (NASDAQ:IOSP) Director Milton C. Blackmore Sells 652 Shares of 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 value of $67,351.60. Following the sale, the director now directly owns 8,376 shares of the company’s stock, valued at $865,240.80. This represents a 7.22 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website.

Innospec Stock Down 1.3 %

IOSP stock traded down $1.37 during midday trading on Monday, hitting $101.99. The company’s stock had a trading volume of 260,114 shares, compared to its average volume of 133,855. Innospec Inc. has a 12 month low of $99.49 and a 12 month high of $133.71. The company has a 50 day moving average of $110.87 and a two-hundred day moving average of $112.44. The firm has a market capitalization of $2.55 billion, a price-to-earnings ratio of 71.82 and a beta of 1.09.

Innospec (NASDAQ:IOSP) last issued its 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 firm had revenue of $466.80 million during the quarter, compared to analyst estimates of $447.43 million. Innospec had a net margin of 1.93% and a return on equity of 12.27%. On average, analysts anticipate that Innospec Inc. will post 6.18 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Covestor Ltd increased its holdings 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 purchasing an additional 118 shares during the last quarter. Summit Investment Advisors Inc. grew its holdings in Innospec by 4.7% during the 4th quarter. Summit Investment Advisors Inc. now owns 2,608 shares of the specialty chemicals company’s stock valued at $287,000 after buying an additional 118 shares in the last quarter. PNC Financial Services Group Inc. increased its stake in Innospec by 8.8% in the 4th quarter. PNC Financial Services Group Inc. now owns 1,868 shares of the specialty chemicals company’s stock worth $206,000 after acquiring an additional 151 shares during the last quarter. HighTower Advisors LLC raised its holdings in shares of Innospec by 5.2% during the 3rd quarter. HighTower Advisors LLC now owns 3,103 shares of the specialty chemicals company’s stock worth $350,000 after acquiring an additional 154 shares in the last quarter. Finally, Raymond James Trust N.A. raised its holdings in shares of Innospec by 7.9% during the 3rd quarter. Raymond James Trust N.A. now owns 2,106 shares of the specialty chemicals company’s stock worth $238,000 after acquiring an additional 155 shares in the last quarter. Institutional investors own 96.64% of the company’s stock.

Wall Street Analysts Forecast Growth

Separately, StockNews.com lowered shares of Innospec from a “strong-buy” rating to a “buy” rating in a report 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.