Insider Selling: Innospec (NASDAQ:IOSP) Director Sells $45,476.64 in Stock

Innospec Inc. (NASDAQ:IOSP) Director Larry Padfield sold 594 shares of the firm’s stock in a transaction that occurred on Friday, February 27th. The stock was sold at an average price of $76.56, for a total value of $45,476.64. Following the transaction, the director owned 9,453 shares of the company’s stock, valued at $723,721.68. This trade represents a 5.91% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink.

Larry Padfield also recently made the following trade(s):

• On Friday, February 20th, Larry Padfield sold 1,030 shares of Innospec stock. The shares were sold at an average price of $81.84, for a total value of $84,295.20.

Innospec Stock Performance

Shares of NASDAQ:IOSP opened at $74.22 on Friday. The company’s fifty day moving average is $80.97 and its 200-day moving average is $79.03. Innospec Inc. has a 52 week low of $70.10 and a 52 week high of $102.25. The company has a market capitalization of $1.84 billion, a PE ratio of 15.86, a P/E/G ratio of 2.03 and a beta of 0.90.

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

Analysts Set New Price Targets

IOSP has been the topic of a number of research analyst reports. Wall Street Zen raised shares of Innospec from a “hold” rating to a “buy” rating in a report on Saturday, December 13th. Zacks Research cut shares of Innospec from a “hold” rating to a “strong sell” rating in a research note on Thursday, February 19th. Finally, Weiss Ratings raised 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 given a Sell rating to the company. Based on data from MarketBeat, the stock has an average rating of “Reduce”.

Hedge Funds Weigh In On Innospec

Several institutional investors have recently modified their holdings of IOSP. BNP PARIBAS ASSET MANAGEMENT Holding S.A. acquired a new stake in shares of Innospec in the 2nd quarter valued at approximately $28,000. Versant Capital Management Inc raised its holdings in Innospec by 378.1% in the third quarter. Versant Capital Management Inc now owns 545 shares of the specialty chemicals company’s stock worth $42,000 after purchasing an additional 431 shares during the period. Hantz Financial Services Inc. boosted its position in shares of Innospec by 271.0% during the fourth 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 in the last quarter. EverSource Wealth Advisors LLC grew its holdings in shares of Innospec by 1,159.5% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 529 shares of the specialty chemicals company’s stock valued at $44,000 after buying an additional 487 shares during the period. Finally, Allworth Financial LP increased its position in shares of 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 buying an additional 139 shares in the last quarter. 96.64% of the stock is currently owned by institutional investors and hedge funds.

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.