Larry Padfield Sells 1,030 Shares of Innospec (NASDAQ:IOSP) Stock

Innospec Inc. (NASDAQ:IOSP) Director Larry Padfield sold 1,030 shares of the company’s stock in a transaction on Friday, February 20th. The stock was sold at an average price of $81.84, for a total value of $84,295.20. Following the sale, the director owned 8,508 shares of the company’s stock, valued at approximately $696,294.72. This represents a 10.80% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website.

Innospec Stock Performance

IOSP stock opened at $78.15 on Thursday. The company has a market capitalization of $1.94 billion, a P/E ratio of 16.70, a PEG ratio of 2.09 and a beta of 0.91. The company has a fifty day moving average price of $81.18 and a 200-day moving average price of $79.28. Innospec Inc. has a 52-week low of $70.10 and a 52-week high of $105.39.

Innospec (NASDAQ:IOSP) last announced its quarterly earnings data on Tuesday, February 17th. The specialty chemicals company reported $1.50 EPS for the quarter, topping the consensus estimate of $1.26 by $0.24. The company had revenue of $455.60 million during the quarter, compared to the consensus estimate of $460.87 million. Innospec had a net margin of 6.56% and a return on equity of 10.18%. The company’s quarterly revenue was down 2.4% on a year-over-year basis. During the same quarter last year, the firm posted $1.41 EPS. As a group, sell-side analysts forecast that Innospec Inc. will post 6.18 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Innospec

A number of institutional investors have recently made changes to their positions in the business. Baird Financial Group Inc. boosted its position in Innospec by 11.5% during the first quarter. Baird Financial Group Inc. now owns 2,170 shares of the specialty chemicals company’s stock valued at $206,000 after buying an additional 223 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its stake in shares of Innospec by 4.5% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 14,833 shares of the specialty chemicals company’s stock valued at $1,405,000 after buying an additional 645 shares during the period. Millennium Management LLC increased its position in Innospec by 8,176.5% during the 1st quarter. Millennium Management LLC now owns 170,414 shares of the specialty chemicals company’s stock valued at $16,147,000 after purchasing an additional 168,355 shares during the period. NewEdge Advisors LLC raised its holdings in Innospec by 37.4% in the 1st quarter. NewEdge Advisors LLC now owns 4,567 shares of the specialty chemicals company’s stock worth $433,000 after purchasing an additional 1,243 shares in the last quarter. Finally, Goldman Sachs Group Inc. increased its position in shares of Innospec by 6.4% during the first quarter. Goldman Sachs Group Inc. now owns 132,399 shares of the specialty chemicals company’s stock valued at $12,545,000 after buying an additional 8,014 shares during the period. Hedge funds and other institutional investors own 96.64% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages have weighed in on IOSP. Zacks Research lowered shares of 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 report on Thursday, February 19th. Finally, Wall Street Zen upgraded 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 assigned a Sell rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Reduce”.

Innospec Company Profile

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.