Milton C. Blackmore Sells 652 Shares of Innospec Inc. (NASDAQ:IOSP) Stock

Innospec Inc. (NASDAQ:IOSP) Director Milton C. Blackmore sold 652 shares of the firm’s stock in a transaction dated Friday, February 21st. The stock was sold at an average price of $103.30, for a total transaction of $67,351.60. Following the completion of the sale, the director now owns 8,376 shares of the company’s stock, valued at $865,240.80. This trade represents a 7.22 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link.

Innospec Stock Performance

Shares of NASDAQ IOSP opened at $104.38 on Wednesday. Innospec Inc. has a fifty-two week low of $99.49 and a fifty-two week high of $133.71. The company has a 50 day simple moving average of $110.41 and a two-hundred day simple moving average of $112.37. The company has a market capitalization of $2.61 billion, a price-to-earnings ratio of 73.51 and a beta of 1.09.

Innospec (NASDAQ:IOSP) last announced its earnings results on Tuesday, February 18th. The specialty chemicals company reported $1.41 earnings per share for the quarter, beating analysts’ consensus estimates of $1.36 by $0.05. Innospec had a net margin of 1.93% and a return on equity of 12.27%. The business had revenue of $466.80 million during the quarter, compared to the consensus estimate of $447.43 million. On average, analysts forecast that Innospec Inc. will post 6.18 earnings per share for the current fiscal year.

Analysts Set New Price Targets

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

Hedge Funds Weigh In On Innospec

Institutional investors and hedge funds have recently made changes to their positions in the business. Blue Trust Inc. increased its stake in shares of Innospec by 503.9% during the third quarter. Blue Trust Inc. now owns 779 shares of the specialty chemicals company’s stock valued at $96,000 after purchasing an additional 650 shares in the last quarter. Murphy & Mullick Capital Management Corp bought a new position in shares of Innospec during the fourth quarter valued at approximately $106,000. Covestor Ltd increased its position in shares of Innospec by 13.9% during the fourth quarter. Covestor Ltd now owns 967 shares of the specialty chemicals company’s stock valued at $106,000 after acquiring an additional 118 shares in the last quarter. KBC Group NV increased its position in shares of Innospec by 82.3% during the fourth quarter. KBC Group NV now owns 1,236 shares of the specialty chemicals company’s stock valued at $136,000 after acquiring an additional 558 shares in the last quarter. Finally, Smartleaf Asset Management LLC increased its position in shares of Innospec by 91.9% during the fourth quarter. Smartleaf Asset Management LLC now owns 1,802 shares of the specialty chemicals company’s stock valued at $198,000 after acquiring an additional 863 shares in the last quarter. Institutional investors own 96.64% of the company’s stock.

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.