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

Innospec Inc. (NASDAQ:IOSP) Director Milton C. Blackmore sold 1,035 shares of the 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 transaction, the director now owns 9,028 shares in the company, valued at $1,109,721.76. The trade was a 10.29 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website.

Innospec Stock Performance

Shares of NASDAQ IOSP traded down $1.34 during midday trading on Friday, hitting $120.51. 14,581 shares of the stock traded hands, compared to its average volume of 108,650. Innospec Inc. has a one year low of $103.97 and a one year high of $133.71. The business has a 50 day moving average price of $112.24 and a two-hundred day moving average price of $118.84. The company has a market cap of $3.01 billion, a PE ratio of 21.27 and a beta of 1.08.

Innospec (NASDAQ:IOSP) last released its quarterly earnings data on Tuesday, November 5th. The specialty chemicals company reported $1.35 earnings per share for the quarter, hitting the consensus estimate of $1.35. The firm had revenue of $443.40 million for the quarter, compared to the consensus estimate of $442.13 million. Innospec had a net margin of 7.68% and a return on equity of 13.33%. The business’s revenue was down 4.5% on a year-over-year basis. During the same quarter in the prior year, the company posted $1.59 earnings per share. As a group, equities research analysts forecast that Innospec Inc. will post 5.88 EPS for the current fiscal 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 dividend of $0.79 per share. The ex-dividend date of this dividend is Monday, November 18th. This represents a yield of 1.3%. This is an increase from Innospec’s previous Semi-Annual dividend of $0.72. Innospec’s payout ratio is 26.53%.

Analyst Upgrades and Downgrades

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

Institutional Trading of Innospec

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in IOSP. Vanguard Group Inc. raised its holdings in shares of Innospec by 5.5% in the first 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. Allspring Global Investments Holdings LLC increased its stake in Innospec by 4.6% in the 3rd quarter. Allspring Global Investments Holdings LLC now owns 2,405,770 shares of the specialty chemicals company’s stock valued at $272,069,000 after buying an additional 105,311 shares during the last quarter. Wasatch Advisors LP lifted its position in shares of Innospec by 0.6% during the 3rd quarter. Wasatch Advisors LP now owns 1,805,546 shares of the specialty chemicals company’s stock worth $204,189,000 after buying an additional 11,231 shares in the last quarter. Victory Capital Management Inc. boosted its stake in shares of Innospec by 4.8% in the 3rd quarter. Victory Capital Management Inc. now owns 908,032 shares of the specialty chemicals company’s stock worth $102,689,000 after buying an additional 41,449 shares during the last quarter. Finally, Royce & Associates LP grew its holdings in shares of Innospec by 9.3% in the third quarter. Royce & Associates LP now owns 835,333 shares of the specialty chemicals company’s stock valued at $94,468,000 after acquiring an additional 70,902 shares in the last quarter. 96.64% of the stock is owned by institutional investors.

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.