Innospec (NASDAQ:IOSP) Director Larry Padfield Sells 1,030 Shares

Innospec Inc. (NASDAQ:IOSP) Director Larry Padfield sold 1,030 shares of the stock in a transaction that occurred on Friday, February 20th. The shares were sold at an average price of $81.84, for a total transaction of $84,295.20. Following the sale, the director directly owned 8,508 shares of the company’s stock, valued at $696,294.72. The trade was a 10.80% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website.

Innospec Trading Up 0.4%

NASDAQ IOSP opened at $79.30 on Wednesday. The firm’s fifty day simple moving average is $81.20 and its two-hundred day simple moving average is $79.29. Innospec Inc. has a 12-month low of $70.10 and a 12-month high of $105.60. The firm has a market capitalization of $1.97 billion, a P/E ratio of 16.94 and a beta of 0.91.

Innospec (NASDAQ:IOSP) last issued its quarterly earnings data on Tuesday, February 17th. The specialty chemicals company reported $1.50 EPS for the quarter, beating the consensus estimate of $1.26 by $0.24. The firm had revenue of $455.60 million during the quarter, compared to analyst estimates of $460.87 million. Innospec had a return on equity of 10.18% and a net margin of 6.56%.The business’s revenue for the quarter was down 2.4% compared to the same quarter last year. During the same quarter in the prior year, the business posted $1.41 EPS. As a group, sell-side analysts predict that Innospec Inc. will post 6.18 earnings per share for the current fiscal year.

Institutional Trading of Innospec

Several large investors have recently added to or reduced their stakes in IOSP. BNP PARIBAS ASSET MANAGEMENT Holding S.A. purchased a new position in shares of Innospec in the second quarter worth about $28,000. EverSource Wealth Advisors LLC raised its position in Innospec by 1,159.5% during the 2nd 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 during the last quarter. Versant Capital Management Inc lifted its stake in Innospec by 378.1% during the 3rd 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. boosted its holdings in shares of Innospec by 271.0% in the 4th quarter. Hantz Financial Services Inc. now owns 575 shares of the specialty chemicals company’s stock valued at $44,000 after acquiring an additional 420 shares during the last quarter. Finally, Allworth Financial LP increased its stake in shares of Innospec by 31.0% in the third quarter. Allworth Financial LP now owns 588 shares of the specialty chemicals company’s stock worth $45,000 after acquiring an additional 139 shares during the period. Hedge funds and other institutional investors own 96.64% of the company’s stock.

Analyst Ratings Changes

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

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.