Innospec Inc. (NASDAQ:IOSP) SVP Corbin Barnes Sells 598 Shares of Stock

Innospec Inc. (NASDAQ:IOSP) SVP Corbin Barnes sold 598 shares of the business’s stock in a transaction on Monday, February 24th. The shares were sold at an average price of $103.06, for a total transaction of $61,629.88. Following the sale, the senior vice president now directly owns 8,051 shares in the company, valued at approximately $829,736.06. This trade represents a 6.91 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink.

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

• On Friday, February 21st, Corbin Barnes sold 2,692 shares of Innospec stock. The shares were sold at an average price of $103.30, for a total transaction of $278,083.60.

Innospec Price Performance

IOSP opened at $103.57 on Thursday. The company’s 50 day simple moving average is $110.29 and its 200-day simple moving average is $112.31. Innospec Inc. has a one year low of $99.49 and a one year high of $133.71. The stock has a market capitalization of $2.59 billion, a P/E ratio of 72.94 and a beta of 1.09.

Innospec (NASDAQ:IOSP) last issued its quarterly earnings results on Tuesday, February 18th. The specialty chemicals company reported $1.41 EPS for the quarter, topping the consensus estimate of $1.36 by $0.05. Innospec had a net margin of 1.93% and a return on equity of 12.27%. The firm had revenue of $466.80 million for the quarter, compared to analysts’ expectations of $447.43 million. As a group, analysts anticipate that Innospec Inc. will post 6.18 EPS for the current year.

Wall Street Analyst Weigh In

Separately, StockNews.com cut shares of Innospec from a “buy” rating to a “hold” rating in a report on Wednesday.

Hedge Funds Weigh In On Innospec

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Wasatch Advisors LP grew its holdings in Innospec by 0.6% in the third quarter. Wasatch Advisors LP now owns 1,805,546 shares of the specialty chemicals company’s stock worth $204,189,000 after purchasing an additional 11,231 shares during the period. State Street Corp lifted its position in shares of Innospec by 2.1% during the third quarter. State Street Corp now owns 996,281 shares of the specialty chemicals company’s stock valued at $112,669,000 after purchasing an additional 20,744 shares in the last quarter. Victory Capital Management Inc. raised its position in Innospec by 1.6% in the fourth quarter. Victory Capital Management Inc. now owns 922,220 shares of the specialty chemicals company’s stock worth $101,500,000 after acquiring an additional 14,188 shares during the period. Royce & Associates LP raised its position in Innospec by 9.3% in the third quarter. Royce & Associates LP now owns 835,333 shares of the specialty chemicals company’s stock worth $94,468,000 after acquiring an additional 70,902 shares during the period. Finally, Geode Capital Management LLC raised its position in Innospec by 2.2% in the fourth quarter. Geode Capital Management LLC now owns 692,071 shares of the specialty chemicals company’s stock worth $76,184,000 after acquiring an additional 14,788 shares during the period. Institutional investors own 96.64% of the company’s stock.

Innospec Company Profile

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.