Innospec Inc. (NASDAQ:IOSP) SVP Corbin Barnes Sells 2,692 Shares

Innospec Inc. (NASDAQ:IOSP) SVP Corbin Barnes sold 2,692 shares of the company’s stock in a transaction dated Friday, February 21st. The stock was sold at an average price of $103.30, for a total transaction of $278,083.60. Following the completion of the sale, the senior vice president now directly owns 8,051 shares of the company’s stock, valued at $831,668.30. The trade was a 25.06 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link.

Corbin Barnes also recently made the following trade(s):

• On Monday, February 24th, Corbin Barnes sold 598 shares of Innospec stock. The shares were sold at an average price of $103.06, for a total transaction of $61,629.88.

Innospec Stock Performance

Shares of IOSP stock opened at $104.01 on Friday. Innospec Inc. has a 1 year low of $99.49 and a 1 year high of $133.71. The business’s fifty day moving average is $110.29 and its 200-day moving average is $112.31. The stock has a market cap of $2.60 billion, a PE ratio of 73.25 and a beta of 1.09.

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

Hedge Funds Weigh In On Innospec

Hedge funds have recently made changes to their positions in the business. US Bancorp DE boosted its holdings in Innospec by 323.6% during the third quarter. US Bancorp DE now owns 5,490 shares of the specialty chemicals company’s stock worth $621,000 after buying an additional 4,194 shares in the last quarter. Charles Schwab Investment Management Inc. lifted its position in shares of Innospec by 3.5% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 336,522 shares of the specialty chemicals company’s stock valued at $38,057,000 after acquiring an additional 11,479 shares during the last quarter. JPMorgan Chase & Co. boosted its stake in shares of Innospec by 24.6% during the 3rd quarter. JPMorgan Chase & Co. now owns 266,688 shares of the specialty chemicals company’s stock worth $30,160,000 after acquiring an additional 52,640 shares in the last quarter. HighTower Advisors LLC grew its holdings in shares of Innospec by 5.2% in 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 during the last quarter. Finally, Citigroup Inc. raised its position in shares of Innospec by 46.1% during the third quarter. Citigroup Inc. now owns 32,193 shares of the specialty chemicals company’s stock worth $3,641,000 after purchasing an additional 10,162 shares during the period. Institutional investors and hedge funds own 96.64% of the company’s stock.

Wall Street Analyst Weigh In

Separately, StockNews.com cut shares of Innospec from a “buy” rating to a “hold” rating in a report on Wednesday.

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.