Innospec (NASDAQ:IOSP) SVP David Jones Sells 1,028 Shares

by · The Cerbat Gem

Innospec Inc. (NASDAQ:IOSP – Get Free Report) SVP David Jones sold 1,028 shares of Innospec stock in a transaction dated Tuesday, March 3rd. The stock was sold at an average price of $75.64, for a total value of $77,757.92. Following the completion of the sale, the senior vice president owned 14,693 shares of the company’s stock, valued at approximately $1,111,378.52. The trade was a 6.54% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink.

Innospec Stock Down 0.9%

Innospec stock traded down $0.67 during mid-day trading on Tuesday, hitting $76.37. 219,803 shares of the company’s stock were exchanged, compared to its average volume of 214,515. The company’s 50 day simple moving average is $81.07 and its 200-day simple moving average is $79.08. Innospec Inc. has a fifty-two week low of $70.10 and a fifty-two week high of $102.25. The firm has a market capitalization of $1.89 billion, a P/E ratio of 16.32, a PEG ratio of 2.03 and a beta of 0.90.

Innospec (NASDAQ:IOSP – Get Free Report) last issued its quarterly earnings results on Tuesday, February 17th. The specialty chemicals company reported $1.50 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.26 by $0.24. The firm had revenue of $455.60 million for the quarter, compared to analyst estimates of $460.87 million. Innospec had a net margin of 6.56% and a return on equity of 10.18%. The company’s revenue was down 2.4% compared to the same quarter last year. During the same period in the previous year, the business earned $1.41 EPS. Research analysts expect that Innospec Inc. will post 6.18 EPS for the current year.

Analyst Upgrades and Downgrades

A number of equities research analysts recently weighed in on IOSP shares. Zacks Research lowered Innospec from a “hold” rating to a “strong sell” rating in a research report on Thursday, February 19th. Weiss Ratings raised shares of Innospec from a “sell (d+)” rating to a “hold (c-)” rating in a research note on Thursday, February 19th. Finally, Wall Street Zen raised shares of Innospec from a “hold” rating to a “buy” rating in a research report on Saturday, December 13th. One equities research analyst has rated the stock with a Hold rating and one has issued a Sell rating to the company. According to MarketBeat, the stock has an average rating of “Reduce”.

Check Out Our Latest Stock Report on Innospec

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the company. Western Standard LLC increased its holdings in Innospec by 894.0% during the 4th quarter. Western Standard LLC now owns 268,367 shares of the specialty chemicals company’s stock valued at $20,541,000 after purchasing an additional 241,367 shares during the period. Medina Value Partners LLC bought a new stake in shares of Innospec in the 3rd quarter worth approximately $18,206,000. Goldman Sachs Group Inc. increased its stake in shares of Innospec by 71.6% during the fourth quarter. Goldman Sachs Group Inc. now owns 484,968 shares of the specialty chemicals company’s stock valued at $37,119,000 after buying an additional 202,325 shares during the period. Millennium Management LLC raised its holdings in shares of Innospec by 8,176.5% during the first quarter. Millennium Management LLC now owns 170,414 shares of the specialty chemicals company’s stock valued at $16,147,000 after acquiring an additional 168,355 shares in the last quarter. Finally, Norges Bank bought a new stake in Innospec in the fourth quarter valued at $10,654,000. Hedge funds and other institutional investors own 96.64% of the company’s stock.

About Innospec

(Get Free Report)

Innospec Incorporated (NASDAQ: IOSP) is a global specialty chemicals company headquartered in Cleveland, Ohio. The company operates through three principal business segments: Fuel Specialties, Oilfield Services, and Performance Chemicals. In the Fuel Specialties segment, Innospec develops and supplies additives designed to enhance octane levels, improve combustion efficiency, reduce emissions and prevent deposit formation in gasoline and diesel engines. Its Oilfield Services division provides chemical technologies—such as surfactants, corrosion inhibitors and demulsifiers—to support exploration, drilling, production optimization and enhanced oil recovery operations.

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