Innospec (NASDAQ:IOSP) Director Leslie Parrette Purchases 345 Shares of Company Stock

Innospec Inc. (NASDAQ:IOSP) Director Leslie Parrette acquired 345 shares of the stock in a transaction on Tuesday, November 10th. The shares were acquired at an average price of $79.69 per share, with a total value of $27,493.05. Following the purchase, the director owned 7,721 shares in the company, valued at $615,286.49. This represents a 4.68% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website.

Innospec Trading Up 1.0%

Shares of NASDAQ:IOSP opened at $79.11 on Friday. The firm has a market cap of $1.95 billion, a PE ratio of 13.95, a price-to-earnings-growth ratio of 3.12 and a beta of 0.88. The company has a fifty day simple moving average of $94.09 and a 200 day simple moving average of $84.54. Innospec Inc. has a 12-month low of $65.51 and a 12-month high of $102.00.

Innospec (NASDAQ:IOSP) last posted its quarterly earnings data on Tuesday, November 3rd. The specialty chemicals company reported $1.29 EPS for the quarter, beating analysts’ consensus estimates of $1.26 by $0.03. The firm had revenue of $473.60 million for the quarter, compared to the consensus estimate of $479.17 million. Innospec had a net margin of 7.49% and a return on equity of 9.36%. The firm’s revenue was up 7.2% compared to the same quarter last year. During the same period in the prior year, the firm posted $1.12 EPS. As a group, equities research analysts forecast that Innospec Inc. will post 5.03 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Several equities analysts have recently commented on the stock. Weiss Ratings cut shares of Innospec from a “hold (c+)” rating to a “hold (c)” rating in a research report on Wednesday, November 4th. Wall Street Zen downgraded Innospec from a “strong-buy” rating to a “buy” rating in a research note on Saturday, September 26th. Zacks Research lowered Innospec from a “hold” rating to a “strong sell” rating in a report on Monday. Finally, Seaport Research Partners reissued a “buy” rating and issued a $110.00 price objective on shares of Innospec in a report on Thursday, August 6th. One research analyst has rated the stock with a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, Innospec has an average rating of “Reduce”.

Institutional Investors Weigh In On Innospec

Several institutional investors and hedge funds have recently made changes to their positions in IOSP. BlackRock Inc. bought a new stake in shares of Innospec during the 2nd quarter valued at about $356,596,000. Assenagon Asset Management S.A. raised its holdings in shares of Innospec by 17.2% during the third quarter. Assenagon Asset Management S.A. now owns 319,633 shares of the specialty chemicals company’s stock valued at $30,467,000 after buying an additional 46,851 shares during the last quarter. Western Standard LLC bought a new stake in shares of Innospec during the second quarter valued at approximately $19,276,000. Hsbc Holdings PLC acquired a new position in shares of Innospec during the second quarter worth approximately $1,936,000. Finally, Arrowstreet Capital Limited Partnership boosted its position in shares of Innospec by 196.5% during the first quarter. Arrowstreet Capital Limited Partnership now owns 18,497 shares of the specialty chemicals company’s stock worth $1,351,000 after buying an additional 12,259 shares during the period. 96.64% of the stock is owned by institutional investors and hedge funds.

About Innospec

Innospec Inc. is a global specialty chemicals company that develops and manufactures products for customers in the fuels, oilfield and performance chemicals markets. Its Fuel Specialties business supplies additives for fuels and lubricants, while its Oilfield Services business provides chemical products and services used in oil and gas operations. Through its Performance Chemicals business, Innospec makes specialty ingredients for applications including personal care, home care and agriculture. Its products are used by industrial and consumer-products manufacturers around the world.