Milton Blackmore Sells 1,030 Shares of Innospec (NASDAQ:IOSP) Stock

Innospec Inc. (NASDAQ:IOSP) Director Milton Blackmore sold 1,030 shares of the business’s stock in a transaction on Friday, February 20th. The stock was sold at an average price of $81.84, for a total value of $84,295.20. Following the transaction, the director directly owned 9,585 shares of the company’s stock, valued at $784,436.40. The trade was a 9.70% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website.

Innospec Stock Down 1.5%

Shares of Innospec stock opened at $78.15 on Thursday. Innospec Inc. has a 52-week low of $70.10 and a 52-week high of $105.39. The company has a market capitalization of $1.94 billion, a P/E ratio of 16.70, a P/E/G ratio of 2.09 and a beta of 0.91. The company has a 50 day moving average of $81.18 and a 200 day moving average of $79.28.

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

Analyst Upgrades and Downgrades

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

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of IOSP. Western Standard LLC grew its position in Innospec by 894.0% in the fourth quarter. Western Standard LLC now owns 268,367 shares of the specialty chemicals company’s stock valued at $20,541,000 after acquiring an additional 241,367 shares in the last quarter. Medina Value Partners LLC acquired a new stake in Innospec in the third quarter valued at $18,206,000. Goldman Sachs Group Inc. increased its position in shares of Innospec by 71.6% in the 4th quarter. Goldman Sachs Group Inc. now owns 484,968 shares of the specialty chemicals company’s stock worth $37,119,000 after purchasing an additional 202,325 shares during the last quarter. Millennium Management LLC increased its position in shares of Innospec by 8,176.5% in the 1st quarter. Millennium Management LLC now owns 170,414 shares of the specialty chemicals company’s stock worth $16,147,000 after purchasing an additional 168,355 shares during the last quarter. Finally, Norges Bank bought a new position in Innospec during the 4th quarter worth approximately $10,654,000. Institutional investors and hedge funds own 96.64% of the company’s stock.

About Innospec

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.