David Jones Sells 1,028 Shares of Innospec (NASDAQ:IOSP) Stock

Innospec Inc. (NASDAQ:IOSP) SVP David Jones sold 1,028 shares of the stock in a transaction that occurred on Tuesday, March 3rd. The stock was sold at an average price of $75.64, for a total transaction of $77,757.92. Following the completion of the sale, the senior vice president directly owned 14,693 shares of the company’s stock, valued at $1,111,378.52. This represents a 6.54% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this link.

Innospec Stock Down 0.9%

NASDAQ IOSP traded down $0.67 during trading on Tuesday, hitting $76.37. 219,803 shares of the stock traded hands, compared to its average volume of 214,515. Innospec Inc. has a 12-month low of $70.10 and a 12-month high of $102.25. The firm has a 50-day simple moving average of $81.07 and a 200-day simple moving average of $79.08. The company has a market capitalization of $1.89 billion, a P/E ratio of 16.32, a price-to-earnings-growth 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 (EPS) for the quarter, topping the consensus estimate of $1.26 by $0.24. The business had revenue of $455.60 million during the quarter, compared to the consensus estimate of $460.87 million. Innospec had a net margin of 6.56% and a return on equity of 10.18%. During the same quarter last year, the firm earned $1.41 earnings per share. The firm’s quarterly revenue was down 2.4% compared to the same quarter last year. As a group, research analysts predict that Innospec Inc. will post 6.18 EPS for the current fiscal year.

Wall Street Analyst Weigh In

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

Institutional Trading of Innospec

A number of institutional investors and hedge funds have recently made changes to their positions in the stock. BNP PARIBAS ASSET MANAGEMENT Holding S.A. bought a new position in shares of Innospec in the 2nd quarter valued at approximately $28,000. EverSource Wealth Advisors LLC boosted its stake in Innospec by 1,159.5% during the second quarter. EverSource Wealth Advisors LLC now owns 529 shares of the specialty chemicals company’s stock worth $44,000 after buying an additional 487 shares in the last quarter. Versant Capital Management Inc increased its stake in Innospec by 378.1% in the third quarter. Versant Capital Management Inc now owns 545 shares of the specialty chemicals company’s stock valued at $42,000 after acquiring an additional 431 shares during the period. Hantz Financial Services Inc. lifted 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 buying an additional 420 shares during the period. Finally, Allworth Financial LP boosted its stake 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 purchasing an additional 139 shares in the last quarter. 96.64% of the stock is currently owned by institutional investors and hedge funds.

About Innospec

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.