Insider Selling: Innospec Inc. (IOSP) CFO Sells $358,350.00 in Stock
Innospec Inc. (NASDAQ:IOSP) CFO Ian Cleminson sold 5,000 shares of the business’s stock in a transaction that occurred on Thursday, November 30th. The stock was sold at an average price of $71.67, for a total value of $358,350.00. Following the completion of the transaction, the chief financial officer now directly owns 22,997 shares in the company, valued at $1,648,194.99. The sale was disclosed in a legal filing with the SEC, which is available through this link.
Ian Cleminson also recently made the following trade(s):
- On Tuesday, November 28th, Ian Cleminson sold 515 shares of Innospec stock. The stock was sold at an average price of $71.56, for a total value of $36,853.40.
Innospec Inc. (NASDAQ:IOSP) opened at $70.10 on Thursday. Innospec Inc. has a 1-year low of $54.10 and a 1-year high of $74.75. The company has a current ratio of 2.24, a quick ratio of 1.35 and a debt-to-equity ratio of 0.30. The stock has a market capitalization of $1,707.73, a price-to-earnings ratio of 16.65 and a beta of 1.20.
Innospec (NASDAQ:IOSP) last posted its quarterly earnings data on Tuesday, November 7th. The specialty chemicals company reported $1.00 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.85 by $0.15. Innospec had a return on equity of 15.05% and a net margin of 7.45%. The firm had revenue of $332.40 million for the quarter, compared to the consensus estimate of $309.40 million. During the same quarter in the prior year, the business earned $0.78 EPS. The business’s revenue for the quarter was up 61.8% compared to the same quarter last year. equities analysts expect that Innospec Inc. will post 4.3 earnings per share for the current year.
The company also recently disclosed a semiannual dividend, which was paid on Monday, November 27th. Shareholders of record on Thursday, November 16th were issued a dividend of $0.39 per share. This is an increase from Innospec’s previous semiannual dividend of $0.38. The ex-dividend date of this dividend was Wednesday, November 15th. This represents a yield of 1.12%. Innospec’s dividend payout ratio is currently 21.61%.
A number of large investors have recently bought and sold shares of IOSP. Aperio Group LLC lifted its holdings in Innospec by 12.6% during the 2nd quarter. Aperio Group LLC now owns 7,279 shares of the specialty chemicals company’s stock worth $477,000 after buying an additional 814 shares in the last quarter. Strs Ohio lifted its holdings in Innospec by 6.3% during the 2nd quarter. Strs Ohio now owns 13,600 shares of the specialty chemicals company’s stock worth $891,000 after buying an additional 800 shares in the last quarter. Great West Life Assurance Co. Can lifted its holdings in Innospec by 3.0% during the 2nd quarter. Great West Life Assurance Co. Can now owns 35,015 shares of the specialty chemicals company’s stock worth $2,293,000 after buying an additional 1,020 shares in the last quarter. Texas Permanent School Fund lifted its holdings in Innospec by 1.1% during the 2nd quarter. Texas Permanent School Fund now owns 17,618 shares of the specialty chemicals company’s stock worth $1,155,000 after buying an additional 190 shares in the last quarter. Finally, Sei Investments Co. lifted its holdings in Innospec by 100.1% during the 2nd quarter. Sei Investments Co. now owns 36,827 shares of the specialty chemicals company’s stock worth $2,414,000 after buying an additional 18,420 shares in the last quarter. 91.20% of the stock is currently owned by hedge funds and other institutional investors.
IOSP has been the topic of several recent analyst reports. Monness Crespi & Hardt raised Innospec from a “neutral” rating to a “buy” rating and set a $65.00 target price on the stock in a report on Tuesday, August 22nd. Zacks Investment Research raised Innospec from a “hold” rating to a “buy” rating and set a $76.00 target price on the stock in a report on Friday, November 10th. KeyCorp reissued an “overweight” rating on shares of Innospec in a report on Thursday, November 9th. ValuEngine raised Innospec from a “hold” rating to a “buy” rating in a report on Thursday, November 9th. Finally, Johnson Rice raised Innospec from a “hold” rating to an “accumulate” rating in a report on Tuesday, November 14th. One analyst has rated the stock with a sell rating, two have assigned a hold rating and three have issued a buy rating to the stock. Innospec has an average rating of “Hold” and a consensus price target of $70.50.
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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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