Corbin Barnes Sells 2,692 Shares of Innospec Inc. (NASDAQ:IOSP) 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 stock was sold at an average price of $103.30, for a total value of $278,083.60. Following the completion of the transaction, the senior vice president now owns 8,051 shares of the company’s stock, valued at $831,668.30. The trade was a 25.06 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website.

Corbin Barnes also recently made the following trade(s):

• On Monday, February 24th, Corbin Barnes sold 598 shares of Innospec stock. The stock was sold at an average price of $103.06, for a total value of $61,629.88.

Innospec Stock Performance

Shares of Innospec stock opened at $103.57 on Thursday. The firm has a market capitalization of $2.59 billion, a price-to-earnings ratio of 72.94 and a beta of 1.09. Innospec Inc. has a fifty-two week low of $99.49 and a fifty-two week high of $133.71. The stock has a 50 day moving average of $110.29 and a 200 day moving average of $112.31.

Innospec (NASDAQ:IOSP) last issued its quarterly earnings data on Tuesday, February 18th. The specialty chemicals company reported $1.41 earnings per share for the quarter, topping the consensus estimate of $1.36 by $0.05. Innospec had a return on equity of 12.27% and a net margin of 1.93%. The company had revenue of $466.80 million during the quarter, compared to analyst estimates of $447.43 million. Analysts forecast that Innospec Inc. will post 6.18 EPS for the current year.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently modified their holdings of IOSP. Pacer Advisors Inc. purchased a new position in shares of Innospec during the fourth quarter worth $53,457,000. Raymond James Financial Inc. purchased a new position in shares of Innospec during the fourth quarter worth $20,992,000. Norges Bank purchased a new position in shares of Innospec during the fourth quarter worth $11,312,000. Royce & Associates LP boosted its position in shares of Innospec by 9.3% during the third quarter. Royce & Associates LP now owns 835,333 shares of the specialty chemicals company’s stock worth $94,468,000 after buying an additional 70,902 shares during the period. Finally, JPMorgan Chase & Co. boosted its position in shares of Innospec by 24.6% during the third quarter. JPMorgan Chase & Co. now owns 266,688 shares of the specialty chemicals company’s stock worth $30,160,000 after buying an additional 52,640 shares during the period. 96.64% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Separately, StockNews.com lowered Innospec from a “buy” rating to a “hold” rating in a research report on Wednesday.

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.