Innospec (NASDAQ:IOSP) Director Sells $84,295.20 in Stock

Innospec Inc. (NASDAQ:IOSP) Director Milton Blackmore sold 1,030 shares of the stock in a transaction dated Friday, February 20th. The stock was sold at an average price of $81.84, for a total transaction of $84,295.20. Following the transaction, the director owned 9,585 shares in the company, valued at approximately $784,436.40. The trade was a 9.70% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link.

Innospec Stock Performance

NASDAQ:IOSP opened at $77.58 on Friday. The firm has a 50-day simple moving average of $81.15 and a 200-day simple moving average of $79.27. Innospec Inc. has a one year low of $70.10 and a one year high of $105.10. The firm has a market cap of $1.92 billion, a P/E ratio of 16.58, a P/E/G ratio of 2.06 and a beta of 0.91.

Innospec (NASDAQ:IOSP) last released its quarterly earnings data on Tuesday, February 17th. The specialty chemicals company reported $1.50 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.26 by $0.24. The firm had revenue of $455.60 million for 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 period last year, the firm earned $1.41 earnings per share. On average, research analysts predict that Innospec Inc. will post 6.18 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

IOSP has been the subject of several recent research reports. Weiss Ratings raised Innospec from a “sell (d+)” rating to a “hold (c-)” rating in a research report on Thursday, February 19th. Zacks Research lowered Innospec from a “hold” rating to a “strong sell” 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 analyst has rated the stock with a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Reduce”.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in IOSP. Western Standard LLC increased its position in Innospec by 894.0% during the 4th quarter. Western Standard LLC now owns 268,367 shares of the specialty chemicals company’s stock valued at $20,541,000 after buying an additional 241,367 shares in the last quarter. Medina Value Partners LLC purchased a new stake in shares of Innospec during the third quarter worth about $18,206,000. Goldman Sachs Group Inc. grew its stake in shares of Innospec by 71.6% during the fourth quarter. Goldman Sachs Group Inc. now owns 484,968 shares of the specialty chemicals company’s stock worth $37,119,000 after acquiring an additional 202,325 shares during the last quarter. Millennium Management LLC increased its holdings in shares of Innospec by 8,176.5% during the first quarter. Millennium Management LLC now owns 170,414 shares of the specialty chemicals company’s stock valued at $16,147,000 after acquiring an additional 168,355 shares in the last quarter. Finally, Norges Bank purchased a new position in shares of Innospec in the 4th quarter valued at approximately $10,654,000. 96.64% of the stock is currently owned by hedge funds and other 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.