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

Innospec Inc. (NASDAQ:IOSP) VP Philip John Boon sold 3,754 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 $387,788.20. Following the sale, the vice president now owns 20,079 shares of the company’s stock, valued at approximately $2,074,160.70. This represents a 15.75 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link.

Innospec Trading Down 0.8 %

Shares of NASDAQ IOSP opened at $103.57 on Thursday. The firm has a market cap of $2.59 billion, a P/E ratio of 72.94 and a beta of 1.09. The business’s 50 day moving average is $110.29 and its 200-day moving average is $112.31. Innospec Inc. has a 1-year low of $99.49 and a 1-year high of $133.71.

Innospec (NASDAQ:IOSP) last posted its quarterly earnings data on Tuesday, February 18th. The specialty chemicals company reported $1.41 earnings per share for the quarter, topping the consensus estimate of $1.36 by $0.05. The firm had revenue of $466.80 million for the quarter, compared to analysts’ expectations of $447.43 million. Innospec had a return on equity of 12.27% and a net margin of 1.93%. Analysts forecast that Innospec Inc. will post 6.18 EPS for the current year.

Institutional Trading of Innospec

Several hedge funds and other institutional investors have recently bought and sold shares of the business. Covestor Ltd increased its holdings in shares of Innospec by 13.9% during the fourth quarter. Covestor Ltd now owns 967 shares of the specialty chemicals company’s stock worth $106,000 after purchasing an additional 118 shares during the period. Summit Investment Advisors Inc. raised its holdings in Innospec by 4.7% in the 4th quarter. Summit Investment Advisors Inc. now owns 2,608 shares of the specialty chemicals company’s stock valued at $287,000 after acquiring an additional 118 shares in the last quarter. PNC Financial Services Group Inc. lifted its position in shares of Innospec by 8.8% during the 4th quarter. PNC Financial Services Group Inc. now owns 1,868 shares of the specialty chemicals company’s stock valued at $206,000 after acquiring an additional 151 shares during the period. HighTower Advisors LLC grew its holdings in shares of Innospec by 5.2% during the 3rd quarter. HighTower Advisors LLC now owns 3,103 shares of the specialty chemicals company’s stock worth $350,000 after purchasing an additional 154 shares in the last quarter. Finally, Raymond James Trust N.A. grew its holdings in shares of Innospec by 7.9% during the 3rd quarter. Raymond James Trust N.A. now owns 2,106 shares of the specialty chemicals company’s stock worth $238,000 after purchasing an additional 155 shares in the last quarter. Institutional investors and hedge funds own 96.64% of the company’s stock.

Analyst Upgrades and Downgrades

Separately, StockNews.com cut shares of Innospec from a “buy” rating to a “hold” rating in a report on Wednesday.

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.