Innospec Inc. (IOSP) VP Ian Malcolm Mcrobbie Sells 20,614 Shares
Innospec Inc. (NASDAQ:IOSP) VP Ian Malcolm Mcrobbie sold 20,614 shares of Innospec stock in a transaction that occurred on Tuesday, November 22nd. The shares were sold at an average price of $66.27, for a total value of $1,366,089.78. Following the sale, the vice president now directly owns 42,543 shares in the company, valued at $2,819,324.61. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link.
Shares of Innospec Inc. (NASDAQ:IOSP) remained flat at $66.85 during trading on Thursday. The company had a trading volume of 115,862 shares. The stock has a market capitalization of $1.60 billion, a price-to-earnings ratio of 18.01 and a beta of 1.32. Innospec Inc. has a 12 month low of $41.61 and a 12 month high of $67.25. The firm’s 50-day moving average price is $61.02 and its 200-day moving average price is $54.98.
Innospec (NASDAQ:IOSP) last posted its quarterly earnings data on Wednesday, November 2nd. The company reported $0.78 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.77 by $0.01. Innospec had a net margin of 10.17% and a return on equity of 15.53%. The company had revenue of $205.50 million for the quarter, compared to analyst estimates of $232.15 million. During the same period in the prior year, the company posted $1.45 EPS. The firm’s revenue for the quarter was down 19.2% on a year-over-year basis. Equities analysts expect that Innospec Inc. will post $3.72 earnings per share for the current fiscal year.
The business also recently announced a semiannual dividend, which will be paid on Thursday, November 24th. Stockholders of record on Tuesday, November 15th will be given a dividend of $0.34 per share. The ex-dividend date of this dividend is Thursday, November 10th. This is a positive change from Innospec’s previous semiannual dividend of $0.33. This represents a dividend yield of 1.23%. Innospec’s dividend payout ratio (DPR) is 18.38%.
A number of brokerages have recently commented on IOSP. Zacks Investment Research raised Innospec from a “sell” rating to a “hold” rating in a research report on Monday. Monness Crespi & Hardt boosted their price target on Innospec from $60.00 to $62.00 and gave the stock a “buy” rating in a research report on Friday, November 4th. Finally, CJS Securities raised Innospec from a “market perform” rating to an “outperform” rating and set a $63.00 price target on the stock in a research report on Friday, August 5th.
Institutional investors have recently modified their holdings of the company. Tower Research Capital LLC TRC raised its position in shares of Innospec by 2,913.8% in the second quarter. Tower Research Capital LLC TRC now owns 2,411 shares of the company’s stock worth $111,000 after buying an additional 2,331 shares during the period. PineBridge Investments L.P. raised its position in shares of Innospec by 3.6% in the second quarter. PineBridge Investments L.P. now owns 3,039 shares of the company’s stock worth $140,000 after buying an additional 106 shares during the period. Teacher Retirement System of Texas raised its position in shares of Innospec by 13.8% in the second quarter. Teacher Retirement System of Texas now owns 3,385 shares of the company’s stock worth $156,000 after buying an additional 411 shares during the period. Profund Advisors LLC bought a new position in shares of Innospec during the third quarter worth approximately $213,000. Finally, Two Sigma Advisers LP bought a new position in shares of Innospec during the third quarter worth approximately $219,000. 88.40% of the stock is currently owned by institutional investors and hedge funds.
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Innospec Company Profile
Innospec Inc develops, manufactures, blends, markets and supplies fuel additives, oilfield chemicals, personal care and fragrance ingredients and other specialty chemicals. The Company operates in three segments: Fuel Specialties, Performance Chemicals and Octane Additives. The Company’s products are sold to oil and gas exploration and production companies, oil refineries, personal care and fragrance companies, and other chemical and industrial companies.
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