Corbin Barnes Sells 2,692 Shares of Innospec Inc. (NASDAQ:IOSP) Stock

Innospec Inc. (NASDAQ:IOSP) SVP Corbin Barnes sold 2,692 shares of the firm’s stock in a transaction dated Friday, February 21st. The shares were sold at an average price of $103.30, for a total transaction of $278,083.60. Following the completion of the transaction, the senior vice president now directly owns 8,051 shares in the company, valued at $831,668.30. This represents a 25.06 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link.

Innospec Stock Performance

NASDAQ IOSP opened at $101.99 on Tuesday. The business has a fifty day moving average price of $110.59 and a 200 day moving average price of $112.38. The company has a market cap of $2.55 billion, a P/E ratio of 71.82 and a beta of 1.09. Innospec Inc. has a one year low of $99.49 and a one year high of $133.71.

Innospec (NASDAQ:IOSP) last released its earnings results on Tuesday, February 18th. The specialty chemicals company reported $1.41 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.36 by $0.05. The business had revenue of $466.80 million during the quarter, compared to analyst estimates of $447.43 million. Innospec had a net margin of 1.93% and a return on equity of 12.27%. As a group, sell-side analysts predict that Innospec Inc. will post 6.18 EPS for the current fiscal year.

Analyst Ratings Changes

Separately, StockNews.com cut Innospec from a “strong-buy” rating to a “buy” rating in a report on Saturday, January 11th.

Institutional Trading of Innospec

Several large investors have recently bought and sold shares of the business. Pacer Advisors Inc. purchased a new position in Innospec in the 4th quarter worth approximately $53,457,000. Raymond James Financial Inc. acquired a new stake in shares of Innospec in the fourth quarter valued at approximately $20,992,000. Norges Bank purchased a new position in Innospec during the fourth quarter worth approximately $11,312,000. Royce & Associates LP boosted its stake in Innospec by 9.3% during the third quarter. Royce & Associates LP now owns 835,333 shares of the specialty chemicals company’s stock worth $94,468,000 after buying an additional 70,902 shares during the last quarter. Finally, JPMorgan Chase & Co. boosted its stake in Innospec by 24.6% during the third quarter. JPMorgan Chase & Co. now owns 266,688 shares of the specialty chemicals company’s stock worth $30,160,000 after buying an additional 52,640 shares during the last quarter. Hedge funds and other institutional investors own 96.64% of the company’s stock.

About Innospec

Innospec Inc develops, manufactures, blends, markets, and supplies specialty chemicals in the United States, rest of North America, the United Kingdom, rest of Europe, and internationally. The company's Fuel Specialties segment offers a range of specialty chemical products that are used as additives in additives in diesel, jet, marine, fuel oil and other fuels.