Innospec Inc. (IOSP) CEO Patrick Williams Sells 3,000 Shares
Innospec Inc. (NASDAQ:IOSP) CEO Patrick Williams sold 3,000 shares of the business’s stock in a transaction on Friday, March 17th. The shares were sold at an average price of $63.01, for a total transaction of $189,030.00. Following the sale, the chief executive officer now directly owns 200,265 shares in the company, valued at $12,618,697.65. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink.
Innospec Inc. (NASDAQ:IOSP) traded down 0.39% during midday trading on Monday, reaching $63.05. 22,189 shares of the company’s stock traded hands. The firm’s 50 day moving average price is $67.30 and its 200-day moving average price is $64.75. The company has a market capitalization of $1.52 billion, a PE ratio of 18.93 and a beta of 1.28. Innospec Inc. has a 1-year low of $41.61 and a 1-year high of $74.75.
Innospec (NASDAQ:IOSP) last issued its quarterly earnings results on Tuesday, February 14th. The company reported $1.09 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.89 by $0.20. Innospec had a net margin of 10.17% and a return on equity of 15.53%. The company earned $237.80 million during the quarter, compared to analysts’ expectations of $231.70 million. During the same quarter last year, the company posted $1.24 EPS. The firm’s revenue was down 3.3% compared to the same quarter last year. Equities analysts expect that Innospec Inc. will post $4.08 EPS for the current year.
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A number of institutional investors have recently modified their holdings of the stock. Alps Advisors Inc. purchased a new stake in shares of Innospec during the third quarter worth $433,000. Her Majesty the Queen in Right of the Province of Alberta as represented by Alberta Investment Management Corp purchased a new stake in shares of Innospec during the third quarter worth $699,000. Aperio Group LLC raised its stake in shares of Innospec by 18.3% in the third quarter. Aperio Group LLC now owns 5,214 shares of the company’s stock worth $317,000 after buying an additional 805 shares during the last quarter. Nordea Investment Management AB purchased a new stake in shares of Innospec during the third quarter worth $1,076,000. Finally, Virginia Retirement Systems ET AL raised its stake in shares of Innospec by 3.1% in the third quarter. Virginia Retirement Systems ET AL now owns 26,200 shares of the company’s stock worth $1,593,000 after buying an additional 800 shares during the last quarter. 88.91% of the stock is owned by institutional investors.
A number of equities research analysts have recently weighed in on IOSP shares. Zacks Investment Research raised shares of Innospec from a “sell” rating to a “hold” rating in a report on Monday, November 21st. Monness Crespi & Hardt lowered shares of Innospec from a “buy” rating to a “neutral” rating in a report on Monday, December 19th.
Innospec Company Profile
Innospec Inc is a specialty chemicals company engaged in developing, manufacturing, blending, marketing and supplying of specialty chemicals for use as fuel additives and ingredients for personal care, home care, agrochemical, mining and other applications and oilfield chemicals. The Company operates through four business segments: Fuel Specialties, Performance Chemicals, Oilfield Services and Octane Additives.
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