David Landless Sells 594 Shares of Innospec (NASDAQ:IOSP) Stock

Innospec Inc. (NASDAQ:IOSP) Director David Landless sold 594 shares of Innospec stock in a transaction dated Friday, February 27th. The stock was sold at an average price of $76.56, for a total value of $45,476.64. Following the completion of the transaction, the director owned 7,632 shares in the company, valued at approximately $584,305.92. This represents a 7.22% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this link.

Innospec Stock Performance

IOSP stock traded down $0.67 during trading on Tuesday, hitting $76.37. 219,803 shares of the company traded hands, compared to its average volume of 214,515. The company has a 50-day moving average of $81.07 and a 200-day moving average of $79.08. Innospec Inc. has a 1 year low of $70.10 and a 1 year high of $102.25. The firm has a market capitalization of $1.89 billion, a PE ratio of 16.32, a P/E/G ratio of 2.03 and a beta of 0.90.

Innospec (NASDAQ:IOSP) last announced its quarterly earnings data on Tuesday, February 17th. The specialty chemicals company reported $1.50 earnings per share 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 the consensus estimate of $460.87 million. During the same quarter in the previous year, the company posted $1.41 earnings per share. The business’s revenue was down 2.4% on a year-over-year basis. Sell-side analysts expect that Innospec Inc. will post 6.18 EPS for the current year.

Institutional Investors Weigh In On Innospec

A number of large investors have recently modified their holdings of the stock. Geode Capital Management LLC increased its holdings in shares of Innospec by 2.1% in the 2nd quarter. Geode Capital Management LLC now owns 719,598 shares of the specialty chemicals company’s stock worth $60,517,000 after purchasing an additional 14,463 shares in the last quarter. Westwood Holdings Group Inc. grew its position in Innospec by 7.8% during the second quarter. Westwood Holdings Group Inc. now owns 412,310 shares of the specialty chemicals company’s stock valued at $34,671,000 after buying an additional 29,900 shares during the period. AlphaQuest LLC raised its holdings in Innospec by 56.8% in the 3rd quarter. AlphaQuest LLC now owns 45,174 shares of the specialty chemicals company’s stock worth $3,486,000 after purchasing an additional 16,360 shares during the period. Entropy Technologies LP bought a new position in shares of Innospec during the 2nd quarter valued at approximately $873,000. Finally, Public Sector Pension Investment Board raised its position in shares of Innospec by 14.0% during the 3rd quarter. Public Sector Pension Investment Board now owns 96,866 shares of the specialty chemicals company’s stock valued at $7,474,000 after purchasing an additional 11,907 shares during the period. Institutional investors own 96.64% of the company’s stock.

Analysts Set New Price Targets

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