Insider Selling: Innospec Inc. (NASDAQ:IOSP) Director Sells 652 Shares of Stock

Innospec Inc. (NASDAQ:IOSP) Director Milton C. Blackmore sold 652 shares of the firm’s stock in a transaction that occurred on Friday, February 21st. The stock was sold at an average price of $103.30, for a total value of $67,351.60. Following the sale, the director now directly owns 8,376 shares of the company’s stock, valued at $865,240.80. This represents a 7.22 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink.

Innospec Stock Performance

Shares of Innospec stock opened at $101.99 on Tuesday. Innospec Inc. has a 52 week low of $99.49 and a 52 week high of $133.71. The stock has a 50 day moving average price of $110.59 and a two-hundred day moving average price of $112.38. The stock has a market capitalization of $2.55 billion, a PE ratio of 71.82 and a beta of 1.09.

Innospec (NASDAQ:IOSP) last announced its quarterly earnings data on Tuesday, February 18th. The specialty chemicals company reported $1.41 EPS for the quarter, beating 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 during the quarter, compared to analysts’ expectations of $447.43 million. Research analysts forecast that Innospec Inc. will post 6.18 EPS for the current year.

Institutional Investors Weigh In On Innospec

Hedge funds have recently added to or reduced their stakes in the company. Blue Trust Inc. grew its stake in Innospec by 503.9% in the third quarter. Blue Trust Inc. now owns 779 shares of the specialty chemicals company’s stock valued at $96,000 after acquiring an additional 650 shares during the period. Murphy & Mullick Capital Management Corp bought a new position in shares of Innospec in the fourth quarter valued at approximately $106,000. Covestor Ltd lifted its holdings in shares of Innospec by 13.9% in the fourth quarter. Covestor Ltd now owns 967 shares of the specialty chemicals company’s stock valued at $106,000 after purchasing an additional 118 shares in the last quarter. KBC Group NV lifted its holdings in shares of Innospec by 82.3% in the fourth quarter. KBC Group NV now owns 1,236 shares of the specialty chemicals company’s stock valued at $136,000 after purchasing an additional 558 shares in the last quarter. Finally, Smartleaf Asset Management LLC lifted its holdings in shares of Innospec by 91.9% in the fourth quarter. Smartleaf Asset Management LLC now owns 1,802 shares of the specialty chemicals company’s stock valued at $198,000 after purchasing an additional 863 shares in the last quarter. Institutional investors and hedge funds own 96.64% of the company’s stock.

Analysts Set New Price Targets

Separately, StockNews.com cut Innospec from a “strong-buy” rating to a “buy” rating in a research note 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.