Milton Blackmore Sells 1,030 Shares of Innospec (NASDAQ:IOSP) Stock
by Mitch Edgeman · The Markets DailyInnospec Inc. (NASDAQ:IOSP – Get Free Report) Director Milton Blackmore sold 1,030 shares of Innospec stock in a transaction dated Friday, February 20th. The stock was sold at an average price of $81.84, for a total value of $84,295.20. Following the completion of the sale, the director owned 9,585 shares of the company’s stock, valued at $784,436.40. The trade was a 9.70% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website.
Innospec Stock Up 0.4%
IOSP traded up $0.32 during midday trading on Tuesday, hitting $79.30. 283,430 shares of the company traded hands, compared to its average volume of 181,526. The company’s 50-day moving average is $81.17 and its 200 day moving average is $79.30. The firm has a market capitalization of $1.97 billion, a PE ratio of 16.94 and a beta of 0.91. Innospec Inc. has a 52 week low of $70.10 and a 52 week high of $105.60.
Innospec (NASDAQ:IOSP – Get Free Report) last released its quarterly earnings data on Tuesday, February 17th. The specialty chemicals company reported $1.50 earnings per share for the quarter, beating the consensus estimate of $1.26 by $0.24. Innospec had a net margin of 6.56% and a return on equity of 10.18%. The firm had revenue of $455.60 million during the quarter, compared to analysts’ expectations of $460.87 million. During the same period in the previous year, the company earned $1.41 earnings per share. The firm’s quarterly revenue was down 2.4% on a year-over-year basis. On average, sell-side analysts predict that Innospec Inc. will post 6.18 earnings per share for the current fiscal year.
Analysts Set New Price Targets
A number of analysts recently commented on the company. Zacks Research cut Innospec from a “hold” rating to a “strong sell” rating in a research report on Thursday, February 19th. Weiss Ratings upgraded 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 investment analyst has rated the stock with a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Reduce”.
Read Our Latest Research Report on Innospec
Institutional Trading of Innospec
A number of institutional investors have recently bought and sold shares of IOSP. Allworth Financial LP boosted its stake in shares of Innospec by 31.0% during the third quarter. Allworth Financial LP now owns 588 shares of the specialty chemicals company’s stock valued at $45,000 after purchasing an additional 139 shares in the last quarter. Nisa Investment Advisors LLC lifted its holdings in Innospec by 8.8% during the third quarter. Nisa Investment Advisors LLC now owns 1,917 shares of the specialty chemicals company’s stock worth $148,000 after buying an additional 155 shares during the period. State of Wyoming boosted its position in Innospec by 27.5% during the 2nd quarter. State of Wyoming now owns 801 shares of the specialty chemicals company’s stock valued at $67,000 after acquiring an additional 173 shares in the last quarter. California State Teachers Retirement System increased its holdings in shares of Innospec by 0.8% in the 2nd quarter. California State Teachers Retirement System now owns 23,062 shares of the specialty chemicals company’s stock valued at $1,939,000 after acquiring an additional 179 shares during the period. Finally, Franklin Resources Inc. increased its holdings in shares of Innospec by 0.7% in the 3rd quarter. Franklin Resources Inc. now owns 27,868 shares of the specialty chemicals company’s stock valued at $2,150,000 after acquiring an additional 196 shares during the period. 96.64% of the stock is currently owned by institutional investors.
About Innospec
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.