Insider Selling: Innospec Inc. (NASDAQ:IOSP) SVP Sells 598 Shares of Stock

Innospec Inc. (NASDAQ:IOSP - Get Free Report) SVP Corbin Barnes sold 598 shares of Innospec stock in a transaction on Monday, February 24th. The shares were sold at an average price of $103.06, for a total value of $61,629.88. Following the sale, the senior vice president now directly owns 8,051 shares of the company's stock, valued at approximately $829,736.06. This trade represents a 6.91 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink.

Corbin Barnes also recently made the following trade(s):

• On Friday, February 21st, Corbin Barnes sold 2,692 shares of Innospec stock. The stock was sold at an average price of $103.30, for a total value of $278,083.60.

Innospec Stock Down 0.6 %

Shares of Innospec stock traded down $0.60 on Friday, reaching $103.41. The stock had a trading volume of 218,010 shares, compared to its average volume of 138,928. The company has a 50 day moving average price of $110.06 and a 200 day moving average price of $112.29. Innospec Inc. has a 1 year low of $99.49 and a 1 year high of $133.71. The stock has a market capitalization of $2.58 billion, a P/E ratio of 72.82 and a beta of 1.09.

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

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Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. Covestor Ltd lifted 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 position in shares of Innospec by 4.7% in the fourth quarter. Summit Investment Advisors Inc. now owns 2,608 shares of the specialty chemicals company's stock worth $287,000 after acquiring an additional 118 shares during the period. PNC Financial Services Group Inc. boosted its position in Innospec by 8.8% during the fourth quarter. PNC Financial Services Group Inc. now owns 1,868 shares of the specialty chemicals company's stock worth $206,000 after purchasing an additional 151 shares in the last quarter. HighTower Advisors LLC grew its stake in Innospec by 5.2% in the 3rd quarter. HighTower Advisors LLC now owns 3,103 shares of the specialty chemicals company's stock valued at $350,000 after acquiring an additional 154 shares during the period. Finally, Raymond James Trust N.A. increased its stake in shares of Innospec by 7.9% during the third 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. Hedge funds and other institutional investors own 96.64% of the company's stock.

Wall Street Analysts Forecast Growth

Separately, StockNews.com lowered Innospec from a "buy" rating to a "hold" rating in a research note 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.