Insider Selling: Innospec Inc. (NASDAQ:IOSP) VP Sells 3,754 Shares of Stock

Innospec Inc. (NASDAQ:IOSP) VP Philip John Boon sold 3,754 shares of Innospec stock in a transaction that occurred on Friday, February 21st. The shares were sold at an average price of $103.30, for a total transaction of $387,788.20. Following the completion of the transaction, the vice president now directly owns 20,079 shares in the company, valued at $2,074,160.70. This trade represents a 15.75 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link.

Innospec Stock Down 0.8 %

Innospec stock opened at $103.57 on Thursday. The stock has a market cap of $2.59 billion, a PE ratio of 72.94 and a beta of 1.09. Innospec Inc. has a 12-month low of $99.49 and a 12-month high of $133.71. The business’s 50-day moving average price is $110.29 and its two-hundred day moving average price is $112.31.

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

Wall Street Analyst Weigh In

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

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of IOSP. Pacer Advisors Inc. acquired a new stake in shares of Innospec during the 4th quarter valued at $53,457,000. Raymond James Financial Inc. acquired a new position in Innospec in the 4th quarter worth about $20,992,000. Norges Bank bought a new position in Innospec in the fourth quarter valued at about $11,312,000. Royce & Associates LP boosted its stake 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 valued at $94,468,000 after purchasing an additional 70,902 shares in the last quarter. Finally, JPMorgan Chase & Co. grew its holdings 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 purchasing an additional 52,640 shares during the last quarter. 96.64% of the stock is currently owned by institutional investors and hedge funds.

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.