Innospec Inc. (NASDAQ:IOSP) SVP Hardy Louis Griffin III Sells 161 Shares

Innospec Inc. (NASDAQ:IOSP) SVP Hardy Louis Griffin III sold 161 shares of the stock in a transaction that occurred on Monday, November 18th. The shares were sold at an average price of $117.52, for a total transaction of $18,920.72. Following the completion of the sale, the senior vice president now directly owns 4,523 shares of the company’s stock, valued at approximately $531,542.96. This trade represents a 3.44 % 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 Performance

Shares of IOSP stock opened at $115.61 on Friday. Innospec Inc. has a one year low of $103.65 and a one year high of $133.71. The firm’s 50 day moving average price is $113.45 and its 200-day moving average price is $114.41. The firm has a market cap of $2.88 billion, a P/E ratio of 20.18 and a beta of 1.09.

Innospec (NASDAQ:IOSP) last released its quarterly earnings results on Tuesday, November 5th. The specialty chemicals company reported $1.35 EPS for the quarter, hitting the consensus estimate of $1.35. Innospec had a return on equity of 13.33% and a net margin of 7.68%. The business had revenue of $443.40 million during the quarter, compared to analyst estimates of $442.13 million. During the same period last year, the business posted $1.59 earnings per share. The company’s quarterly revenue was down 4.5% on a year-over-year basis. As a group, research analysts predict that Innospec Inc. will post 5.87 EPS for the current fiscal year.

Innospec Increases Dividend

The firm also recently declared a Semi-Annual dividend, which was paid on Tuesday, November 26th. Shareholders of record on Monday, November 18th were paid a dividend of $0.79 per share. The ex-dividend date was Monday, November 18th. This is a positive change from Innospec’s previous Semi-Annual dividend of $0.72. This represents a yield of 1.3%. Innospec’s dividend payout ratio is 27.57%.

Institutional Trading of Innospec

Hedge funds have recently made changes to their positions in the business. Allspring Global Investments Holdings LLC lifted its stake in Innospec by 4.6% in the third quarter. Allspring Global Investments Holdings LLC now owns 2,405,770 shares of the specialty chemicals company’s stock worth $272,069,000 after acquiring an additional 105,311 shares during the last quarter. Wasatch Advisors LP raised its holdings in shares of Innospec by 0.6% in the 3rd quarter. Wasatch Advisors LP now owns 1,805,546 shares of the specialty chemicals company’s stock valued at $204,189,000 after purchasing an additional 11,231 shares in the last quarter. State Street Corp lifted its position in shares of Innospec by 2.1% during the 3rd quarter. State Street Corp now owns 996,281 shares of the specialty chemicals company’s stock worth $112,669,000 after purchasing an additional 20,744 shares during the last quarter. Victory Capital Management Inc. grew its stake in shares of Innospec by 4.8% during the third quarter. Victory Capital Management Inc. now owns 908,032 shares of the specialty chemicals company’s stock worth $102,689,000 after purchasing an additional 41,449 shares in the last quarter. Finally, Royce & Associates LP increased its holdings in Innospec by 9.3% in the third quarter. Royce & Associates LP now owns 835,333 shares of the specialty chemicals company’s stock valued at $94,468,000 after buying an additional 70,902 shares during the last quarter. Institutional investors and hedge funds own 96.64% of the company’s stock.

Wall Street Analyst Weigh In

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