Innospec Inc. (NASDAQ:IOSP) VP Philip John Boon Sells 3,754 Shares of Stock

Innospec Inc. (NASDAQ:IOSP) VP Philip John Boon sold 3,754 shares of the company’s stock in a transaction that occurred on Friday, February 21st. The shares were sold at an average price of $103.30, for a total value of $387,788.20. Following the completion of the transaction, the vice president now owns 20,079 shares in the company, valued at approximately $2,074,160.70. The trade was a 15.75 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website.

Innospec Stock Down 1.3 %

NASDAQ IOSP opened at $101.99 on Tuesday. The company has a market cap of $2.55 billion, a PE ratio of 71.82 and a beta of 1.09. Innospec Inc. has a 52 week low of $99.49 and a 52 week high of $133.71. The firm’s 50-day simple moving average is $110.59 and its two-hundred day simple moving average is $112.38.

Innospec (NASDAQ:IOSP) last announced its quarterly earnings results on Tuesday, February 18th. The specialty chemicals company reported $1.41 EPS for the quarter, beating analysts’ consensus estimates of $1.36 by $0.05. The company had revenue of $466.80 million for the quarter, compared to analysts’ expectations of $447.43 million. Innospec had a net margin of 1.93% and a return on equity of 12.27%. As a group, equities research analysts anticipate that Innospec Inc. will post 6.18 EPS for the current year.

Institutional Investors Weigh In On Innospec

Several institutional investors have recently made changes to their positions in the stock. Wasatch Advisors LP grew its position in shares of Innospec by 0.6% in the third quarter. Wasatch Advisors LP now owns 1,805,546 shares of the specialty chemicals company’s stock valued at $204,189,000 after purchasing an additional 11,231 shares in the last quarter. State Street Corp boosted its stake in Innospec by 2.1% in the 3rd quarter. State Street Corp now owns 996,281 shares of the specialty chemicals company’s stock worth $112,669,000 after purchasing an additional 20,744 shares during the period. Victory Capital Management Inc. grew its holdings in Innospec by 1.6% during the 4th quarter. Victory Capital Management Inc. now owns 922,220 shares of the specialty chemicals company’s stock valued at $101,500,000 after buying an additional 14,188 shares in the last quarter. Royce & Associates LP grew its holdings in Innospec by 9.3% during the 3rd quarter. Royce & Associates LP now owns 835,333 shares of the specialty chemicals company’s stock valued at $94,468,000 after buying an additional 70,902 shares in the last quarter. Finally, Geode Capital Management LLC increased its position in shares of Innospec by 2.2% during the fourth quarter. Geode Capital Management LLC now owns 692,071 shares of the specialty chemicals company’s stock valued at $76,184,000 after buying an additional 14,788 shares during the period. Hedge funds and other institutional investors own 96.64% of the company’s stock.

Analysts Set New Price Targets

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

Innospec Company Profile

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.