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

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

Innospec Stock Down 0.7%

Innospec stock opened at $77.58 on Friday. The company has a fifty day simple moving average of $81.15 and a 200-day simple moving average of $79.27. The firm has a market capitalization of $1.92 billion, a price-to-earnings ratio of 16.58, a PEG ratio of 2.06 and a beta of 0.91. Innospec Inc. has a 52-week low of $70.10 and a 52-week high of $105.10.

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

Analyst Ratings Changes

A number of research firms have commented on IOSP. Wall Street Zen raised shares of Innospec from a “hold” rating to a “buy” rating in a research report on Saturday, December 13th. Zacks Research downgraded shares of Innospec from a “hold” rating to a “strong sell” rating in a research note on Thursday, February 19th. Finally, Weiss Ratings upgraded shares of Innospec from a “sell (d+)” rating to a “hold (c-)” rating in a research note on Thursday, February 19th. One research analyst has rated the stock with a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Reduce”.

Institutional Trading of Innospec

Several hedge funds and other institutional investors have recently made changes to their positions in IOSP. BNP PARIBAS ASSET MANAGEMENT Holding S.A. purchased a new stake in shares of Innospec in the second quarter valued at approximately $28,000. Versant Capital Management Inc raised its position in Innospec by 378.1% during the third quarter. Versant Capital Management Inc now owns 545 shares of the specialty chemicals company’s stock worth $42,000 after acquiring an additional 431 shares during the last quarter. Hantz Financial Services Inc. raised its position in shares of Innospec by 271.0% during the 4th quarter. Hantz Financial Services Inc. now owns 575 shares of the specialty chemicals company’s stock worth $44,000 after purchasing an additional 420 shares during the last quarter. EverSource Wealth Advisors LLC raised its holdings in shares of Innospec by 1,159.5% in the second quarter. EverSource Wealth Advisors LLC now owns 529 shares of the specialty chemicals company’s stock worth $44,000 after acquiring an additional 487 shares during the last quarter. Finally, Allworth Financial LP raised its stake in Innospec by 31.0% in the 3rd quarter. Allworth Financial LP now owns 588 shares of the specialty chemicals company’s stock valued at $45,000 after purchasing an additional 139 shares during the last quarter. Hedge funds and other institutional investors own 96.64% of the company’s stock.

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.