Milton C. Blackmore Sells 1,035 Shares of Innospec Inc. (NASDAQ:IOSP) Stock

Innospec Inc. (NASDAQ:IOSP) Director Milton C. Blackmore sold 1,035 shares of Innospec stock in a transaction that occurred on Wednesday, November 13th. The stock was sold at an average price of $122.92, for a total value of $127,222.20. Following the completion of the transaction, the director now directly owns 9,028 shares in the company, valued at approximately $1,109,721.76. This represents a 10.29 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link.

Innospec Price Performance

Shares of NASDAQ:IOSP opened at $119.03 on Friday. Innospec Inc. has a 1 year low of $103.97 and a 1 year high of $133.71. The business’s 50-day moving average is $112.76 and its 200-day moving average is $118.84. The company has a market capitalization of $2.97 billion, a price-to-earnings ratio of 20.77 and a beta of 1.08.

Innospec (NASDAQ:IOSP) last issued its quarterly earnings results on Tuesday, November 5th. The specialty chemicals company reported $1.35 earnings per share (EPS) for the quarter, meeting the consensus estimate of $1.35. The firm had revenue of $443.40 million for the quarter, compared to analyst estimates of $442.13 million. Innospec had a return on equity of 13.33% and a net margin of 7.68%. The company’s revenue was down 4.5% compared to the same quarter last year. During the same period in the previous year, the firm earned $1.59 earnings per share. Analysts anticipate that Innospec Inc. will post 5.88 EPS for the current year.

Innospec Increases Dividend

The business also recently declared a Semi-Annual dividend, which will be paid on Tuesday, November 26th. Shareholders of record on Monday, November 18th will be paid a $0.79 dividend. This is an increase from Innospec’s previous Semi-Annual dividend of $0.72. This represents a yield of 1.3%. The ex-dividend date of this dividend is Monday, November 18th. Innospec’s payout ratio is 26.53%.

Hedge Funds Weigh In On Innospec

Several institutional investors have recently made changes to their positions in IOSP. Assenagon Asset Management S.A. raised its stake in Innospec by 98.4% during the 2nd quarter. Assenagon Asset Management S.A. now owns 120,082 shares of the specialty chemicals company’s stock worth $14,841,000 after buying an additional 59,554 shares during the period. Vanguard Group Inc. boosted its stake in Innospec by 5.5% during the 1st quarter. Vanguard Group Inc. now owns 3,115,167 shares of the specialty chemicals company’s stock valued at $401,670,000 after purchasing an additional 161,249 shares during the last quarter. US Bancorp DE lifted its holdings in shares of Innospec by 323.6% in the third quarter. US Bancorp DE now owns 5,490 shares of the specialty chemicals company’s stock valued at $621,000 after purchasing an additional 4,194 shares in the last quarter. Sei Investments Co. raised its position in Innospec by 4.9% in the 1st quarter. Sei Investments Co. now owns 138,788 shares of the specialty chemicals company’s stock valued at $17,895,000 after buying an additional 6,532 shares during the last quarter. Finally, SG Americas Securities LLC raised its position in Innospec by 660.1% in the 2nd quarter. SG Americas Securities LLC now owns 9,767 shares of the specialty chemicals company’s stock valued at $1,207,000 after buying an additional 8,482 shares during the last quarter. Institutional investors and hedge funds own 96.64% of the company’s stock.

Analyst Upgrades and Downgrades

Separately, StockNews.com lowered shares of Innospec from a “strong-buy” rating to a “buy” rating in a research note on Thursday, August 8th.

Innospec Company Profile

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.