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 the firm’s stock in a transaction dated Wednesday, November 13th. The stock was sold at an average price of $122.92, for a total transaction of $127,222.20. Following the sale, the director now owns 9,028 shares of the company’s stock, valued at $1,109,721.76. This trade represents a 10.29 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link.

Innospec Price Performance

NASDAQ:IOSP opened at $119.03 on Friday. The company has a market capitalization of $2.97 billion, a P/E ratio of 20.77 and a beta of 1.08. The business has a fifty day simple moving average of $112.76 and a two-hundred day simple moving average of $118.84. Innospec Inc. has a 1 year low of $103.97 and a 1 year high of $133.71.

Innospec (NASDAQ:IOSP) last posted its quarterly earnings results 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 company had revenue of $443.40 million during the quarter, compared to the consensus estimate of $442.13 million. Innospec had a return on equity of 13.33% and a net margin of 7.68%. The firm’s quarterly revenue was down 4.5% compared to the same quarter last year. During the same quarter in the prior year, the company earned $1.59 EPS. As a group, analysts anticipate that Innospec Inc. will post 5.88 earnings per share for the current year.

Innospec Increases Dividend

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

Institutional Trading of Innospec

A number of institutional investors have recently modified their holdings of IOSP. Vanguard Group Inc. grew its stake in Innospec by 5.5% in 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 buying an additional 161,249 shares in the last quarter. Allspring Global Investments Holdings LLC boosted its holdings in shares of Innospec by 4.6% in the third quarter. Allspring Global Investments Holdings LLC now owns 2,405,770 shares of the specialty chemicals company’s stock worth $272,069,000 after acquiring an additional 105,311 shares during the period. Wasatch Advisors LP grew its position in shares of Innospec by 0.6% in the third quarter. Wasatch Advisors LP now owns 1,805,546 shares of the specialty chemicals company’s stock valued at $204,189,000 after purchasing an additional 11,231 shares in the last quarter. State Street Corp raised its stake in shares of Innospec by 2.1% during the 3rd quarter. State Street Corp now owns 996,281 shares of the specialty chemicals company’s stock valued at $112,669,000 after purchasing an additional 20,744 shares during the period. Finally, Victory Capital Management Inc. lifted its holdings in Innospec by 4.8% during the 3rd quarter. Victory Capital Management Inc. now owns 908,032 shares of the specialty chemicals company’s stock worth $102,689,000 after purchasing an additional 41,449 shares in the last quarter. 96.64% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Separately, StockNews.com downgraded shares of Innospec from a “strong-buy” rating to a “buy” rating in a research report 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.