Insider Selling: Innospec Inc. (NASDAQ:IOSP) SVP Sells $18,920.72 in Stock

Innospec Inc. (NASDAQ:IOSP) SVP Hardy Louis Griffin III sold 161 shares of the business’s stock in a transaction on Monday, November 18th. The stock was sold at an average price of $117.52, for a total value of $18,920.72. Following the completion of the transaction, the senior vice president now directly owns 4,523 shares of the company’s stock, valued at approximately $531,542.96. The trade was a 3.44 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website.

Innospec Trading Up 0.6 %

Shares of NASDAQ IOSP traded up $0.65 during midday trading on Thursday, reaching $115.61. The company had a trading volume of 85,987 shares, compared to its average volume of 107,984. The stock has a market cap of $2.88 billion, a P/E ratio of 20.18 and a beta of 1.09. Innospec Inc. has a 1 year low of $103.65 and a 1 year high of $133.71. The business’s 50-day simple moving average is $113.50 and its 200 day simple moving average is $114.41.

Innospec (NASDAQ:IOSP) last posted its quarterly earnings results on Tuesday, November 5th. The specialty chemicals company reported $1.35 earnings per share for the quarter, meeting the consensus estimate of $1.35. Innospec had a return on equity of 13.33% and a net margin of 7.68%. The business had revenue of $443.40 million for the quarter, compared to the consensus estimate of $442.13 million. During the same quarter in the previous year, the business earned $1.59 EPS. The company’s quarterly revenue was down 4.5% compared to the same quarter last year. Analysts predict 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 was paid on Tuesday, November 26th. Stockholders of record on Monday, November 18th were issued a $0.79 dividend. This is an increase from Innospec’s previous Semi-Annual dividend of $0.72. This represents a dividend yield of 1.3%. The ex-dividend date of this dividend was Monday, November 18th. Innospec’s dividend payout ratio is 27.57%.

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 Saturday, January 11th.

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in the business. Renaissance Technologies LLC acquired a new stake in Innospec during the 2nd quarter worth about $1,137,000. Marshall Wace LLP acquired a new stake in Innospec during the second quarter worth about $4,943,000. AQR Capital Management LLC raised its position in Innospec by 51.9% during the second quarter. AQR Capital Management LLC now owns 24,232 shares of the specialty chemicals company’s stock valued at $2,995,000 after acquiring an additional 8,276 shares in the last quarter. The Manufacturers Life Insurance Company boosted its position in Innospec by 3.9% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 13,892 shares of the specialty chemicals company’s stock worth $1,717,000 after purchasing an additional 522 shares in the last quarter. Finally, Mackenzie Financial Corp grew its stake in shares of Innospec by 12.1% during the 2nd quarter. Mackenzie Financial Corp now owns 3,391 shares of the specialty chemicals company’s stock worth $419,000 after purchasing an additional 367 shares during the period. Hedge funds and other institutional investors own 96.64% of the company’s stock.

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.