Insider Selling: Innospec Inc. (NASDAQ:IOSP) SVP Sells 2,692 Shares of Stock

Innospec Inc. (NASDAQ:IOSP) SVP Corbin Barnes sold 2,692 shares of the stock in a transaction that occurred on Friday, February 21st. The shares were 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 approximately $831,668.30. This trade represents a 25.06 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website.

Innospec Stock Down 1.3 %

Shares of Innospec stock opened at $101.99 on Tuesday. The firm has a market cap of $2.55 billion, a PE ratio of 71.82 and a beta of 1.09. Innospec Inc. has a 52 week low of $99.49 and a 52 week high of $133.71. The business’s fifty day simple moving average is $110.59 and its 200-day simple moving average is $112.38.

Innospec (NASDAQ:IOSP) last issued its quarterly earnings data on Tuesday, February 18th. The specialty chemicals company reported $1.41 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.36 by $0.05. The firm had revenue of $466.80 million for 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%. As a group, equities analysts expect that Innospec Inc. will post 6.18 earnings per share for the current year.

Institutional Investors Weigh In On Innospec

Institutional investors and hedge funds have recently made changes to their positions in the stock. US Bancorp DE increased its holdings in Innospec by 323.6% in the 3rd quarter. US Bancorp DE now owns 5,490 shares of the specialty chemicals company’s stock valued at $621,000 after purchasing an additional 4,194 shares during the last quarter. Charles Schwab Investment Management Inc. boosted its position in shares of Innospec by 3.5% during the third quarter. Charles Schwab Investment Management Inc. now owns 336,522 shares of the specialty chemicals company’s stock worth $38,057,000 after buying an additional 11,479 shares during the period. JPMorgan Chase & Co. grew its stake in shares of Innospec by 24.6% in the third quarter. JPMorgan Chase & Co. now owns 266,688 shares of the specialty chemicals company’s stock valued at $30,160,000 after buying an additional 52,640 shares in the last quarter. HighTower Advisors LLC raised 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 valued at $350,000 after buying an additional 154 shares during the period. Finally, Citigroup Inc. raised its holdings in shares of Innospec by 46.1% in the 3rd quarter. Citigroup Inc. now owns 32,193 shares of the specialty chemicals company’s stock valued at $3,641,000 after buying an additional 10,162 shares during the period. 96.64% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Separately, StockNews.com cut Innospec from a “strong-buy” rating to a “buy” rating in a report on Saturday, January 11th.

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.