Innospec (NASDAQ:IOSP) Director Milton Blackmore Sells 1,030 Shares of Stock

Innospec Inc. (NASDAQ:IOSP) Director Milton Blackmore sold 1,030 shares of Innospec 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 transaction, the director directly owned 9,585 shares in the company, valued at approximately $784,436.40. The trade was a 9.70% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link.

Innospec Trading Up 0.4%

NASDAQ IOSP opened at $79.30 on Wednesday. The business has a fifty day simple moving average of $81.20 and a 200 day simple moving average of $79.29. Innospec Inc. has a 12 month low of $70.10 and a 12 month high of $105.60. The firm has a market capitalization of $1.97 billion, a P/E ratio of 16.94 and a beta of 0.91.

Innospec (NASDAQ:IOSP) last posted its earnings results on Tuesday, February 17th. The specialty chemicals company reported $1.50 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.26 by $0.24. The firm had revenue of $455.60 million during the quarter, compared to analyst estimates of $460.87 million. Innospec had a net margin of 6.56% and a return on equity of 10.18%. The business’s revenue was down 2.4% compared to the same quarter last year. During the same quarter in the prior year, the business posted $1.41 EPS. As a group, sell-side analysts predict that Innospec Inc. will post 6.18 EPS for the current fiscal year.

Hedge Funds Weigh In On Innospec

Several large investors have recently modified their holdings of IOSP. Baird Financial Group Inc. lifted its stake in shares of Innospec by 11.5% during the 1st quarter. Baird Financial Group Inc. now owns 2,170 shares of the specialty chemicals company’s stock valued at $206,000 after buying an additional 223 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its stake in Innospec by 4.5% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 14,833 shares of the specialty chemicals company’s stock valued at $1,405,000 after buying an additional 645 shares in the last quarter. Millennium Management LLC raised its holdings in Innospec by 8,176.5% during the 1st 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 during the period. NewEdge Advisors LLC lifted its position in shares of Innospec by 37.4% during the first quarter. NewEdge Advisors LLC now owns 4,567 shares of the specialty chemicals company’s stock worth $433,000 after acquiring an additional 1,243 shares in the last quarter. Finally, Goldman Sachs Group Inc. lifted its position in shares of Innospec by 6.4% during the first quarter. Goldman Sachs Group Inc. now owns 132,399 shares of the specialty chemicals company’s stock worth $12,545,000 after acquiring an additional 8,014 shares in the last quarter. Hedge funds and other institutional investors own 96.64% of the company’s stock.

Analyst Ratings Changes

Several equities analysts have commented on IOSP shares. Zacks Research cut shares of Innospec from a “hold” rating to a “strong sell” rating in a research report on Thursday, February 19th. Wall Street Zen raised Innospec from a “hold” rating to a “buy” rating in a report on Saturday, December 13th. Finally, Weiss Ratings upgraded Innospec from a “sell (d+)” rating to a “hold (c-)” rating in a report on Thursday, February 19th. One equities research analyst has rated the stock with a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat.com, Innospec currently has a consensus rating of “Reduce”.

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.