Innospec Inc. (NASDAQ:IOSP) Director Milton C. Blackmore Sells 1,035 Shares

Innospec Inc. (NASDAQ:IOSP) Director Milton C. Blackmore sold 1,035 shares of Innospec stock in a transaction dated Wednesday, November 13th. The shares were sold at an average price of $122.92, for a total value of $127,222.20. Following the completion of the transaction, the director now directly owns 9,028 shares of the company’s stock, valued at $1,109,721.76. This represents a 10.29 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website.

Innospec Stock Performance

NASDAQ:IOSP traded up $0.07 on Thursday, hitting $121.85. 107,168 shares of the stock were exchanged, compared to its average volume of 108,993. The stock has a market capitalization of $3.04 billion, a price-to-earnings ratio of 21.27 and a beta of 1.08. Innospec Inc. has a 52 week low of $103.97 and a 52 week high of $133.71. The company’s 50-day moving average price is $112.24 and its 200 day moving average price is $118.84.

Innospec (NASDAQ:IOSP) last announced its quarterly earnings data on Tuesday, November 5th. The specialty chemicals company reported $1.35 earnings per share for the quarter, hitting the consensus estimate of $1.35. The firm had revenue of $443.40 million during the quarter, compared to analysts’ expectations of $442.13 million. Innospec had a return on equity of 13.33% and a net margin of 7.68%. The company’s quarterly revenue was down 4.5% compared to the same quarter last year. During the same period in the previous year, the business posted $1.59 EPS. As a group, equities research analysts predict that Innospec Inc. will post 5.88 earnings per share for the current year.

Innospec Increases Dividend

The business also recently announced a Semi-Annual dividend, which will be paid on Tuesday, November 26th. Stockholders of record on Monday, November 18th will be given a dividend of $0.79 per share. This is a positive change from Innospec’s previous Semi-Annual dividend of $0.72. This represents a dividend yield of 1.3%. The ex-dividend date is Monday, November 18th. Innospec’s payout ratio is presently 26.53%.

Analyst Ratings Changes

Separately, StockNews.com cut Innospec from a “strong-buy” rating to a “buy” rating in a report on Thursday, August 8th.

Hedge Funds Weigh In On Innospec

Several institutional investors have recently modified their holdings of the stock. Assenagon Asset Management S.A. raised its stake in shares of Innospec by 98.4% during the 2nd quarter. Assenagon Asset Management S.A. now owns 120,082 shares of the specialty chemicals company’s stock worth $14,841,000 after purchasing an additional 59,554 shares in the last quarter. Vanguard Group Inc. raised its stake in Innospec by 5.5% in the 1st quarter. Vanguard Group Inc. now owns 3,115,167 shares of the specialty chemicals company’s stock valued at $401,670,000 after acquiring an additional 161,249 shares during the period. US Bancorp DE raised its stake in Innospec by 323.6% in the 3rd quarter. US Bancorp DE now owns 5,490 shares of the specialty chemicals company’s stock valued at $621,000 after acquiring an additional 4,194 shares during the period. Sei Investments Co. raised its stake in Innospec by 4.9% in the 1st quarter. Sei Investments Co. now owns 138,788 shares of the specialty chemicals company’s stock valued at $17,895,000 after acquiring an additional 6,532 shares during the period. Finally, SG Americas Securities LLC increased its position in Innospec by 660.1% during the 2nd quarter. SG Americas Securities LLC now owns 9,767 shares of the specialty chemicals company’s stock worth $1,207,000 after buying an additional 8,482 shares during the period. 96.64% of the stock is currently owned by institutional investors and hedge funds.

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.