Innospec (NASDAQ:IOSP) Director Sells $45,476.64 in Stock

Key Points

  • Larry Padfield sold 594 shares of Innospec on Feb. 27 at an average price of $76.56 for $45,476.64 (he also sold 1,030 shares on Feb. 20), cutting his stake by about 5.91% to 9,453 shares.
  • Broader insider selling has been disclosed recently, with SVP David B. Jones and directors David Landless, Claudia Poccia and Milton C. Blackmore all reporting sales in SEC filings.
  • Quarterly results were mixed: Innospec reported $1.50 EPS (beating estimates) but revenue of $455.6M missed expectations and fell 2.4% year-over-year, and analyst sentiment averages to a "Reduce" rating.

Innospec Inc. (NASDAQ:IOSP - Get Free Report) Director David Landless sold 594 shares of Innospec stock in a transaction dated Friday, February 27th. The stock was sold at an average price of $76.56, for a total value of $45,476.64. Following the transaction, the director owned 7,632 shares of the company's stock, valued at $584,305.92. The trade was a 7.22% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this link.

Innospec Trading Down 0.9%

IOSP opened at $76.37 on Wednesday. The stock's fifty day simple moving average is $81.07 and its 200 day simple moving average is $79.08. Innospec Inc. has a 1-year low of $70.10 and a 1-year high of $102.25. The stock has a market cap of $1.89 billion, a PE ratio of 16.32, a price-to-earnings-growth ratio of 2.03 and a beta of 0.90.

Innospec (NASDAQ:IOSP - Get Free Report) last announced its earnings results on Tuesday, February 17th. The specialty chemicals company reported $1.50 EPS for the quarter, topping the consensus estimate of $1.26 by $0.24. The business had revenue of $455.60 million during the quarter, compared to the consensus estimate of $460.87 million. Innospec had a net margin of 6.56% and a return on equity of 10.18%. Innospec's revenue was down 2.4% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $1.41 EPS. Equities analysts forecast that Innospec Inc. will post 6.18 earnings per share for the current year.

Analyst Ratings Changes




A number of research analysts have commented on the company. Wall Street Zen raised Innospec from a "hold" rating to a "buy" rating in a report on Saturday, December 13th. Zacks Research cut shares of Innospec from a "hold" rating to a "strong sell" rating in a research report on Thursday, February 19th. Finally, Weiss Ratings raised shares of Innospec from a "sell (d+)" rating to a "hold (c-)" rating in a research report on Thursday, February 19th. One investment analyst has rated the stock with a Hold rating and one has given a Sell rating to the company's stock. According to data from MarketBeat, the stock presently has a consensus rating of "Reduce".

Read Our Latest Analysis on IOSP

More Innospec News

Here are the key news stories impacting Innospec this week:

  • Neutral Sentiment: Short-interest update published; may affect near-term trading dynamics depending on whether shorts rose or fell. Short Interest Update
  • Negative Sentiment: SVP David B. Jones sold 1,028 shares at an average $75.64 (≈$77.8k); his stake fell ~6.5%. Insider sale disclosed in an SEC filing. David B. Jones Sale
  • Negative Sentiment: Director David Landless sold 594 shares at $76.56 (≈$45.5k); his holding dropped ~7.2%. Sale disclosed to the SEC. David Landless Sale
  • Negative Sentiment: Director Claudia Poccia sold 119 shares at $76.56 (≈$9.1k); her stake fell ~1.8%. Sale disclosed in an SEC filing. Claudia Poccia SEC Filing
  • Negative Sentiment: Director Larry Padfield sold 594 shares at $76.56 (≈$45.5k); his holding fell ~5.9%. Sale disclosed to the SEC. Larry Padfield Sale
  • Negative Sentiment: Director Milton C. Blackmore sold 594 shares at $76.56 (≈$45.5k); his position declined ~5.3%. Sale disclosed to the SEC. Milton C. Blackmore Sale

Hedge Funds Weigh In On Innospec

Several hedge funds and other institutional investors have recently made changes to their positions in IOSP. Western Standard LLC boosted its stake in Innospec by 894.0% in the fourth quarter. Western Standard LLC now owns 268,367 shares of the specialty chemicals company's stock valued at $20,541,000 after buying an additional 241,367 shares in the last quarter. Medina Value Partners LLC acquired a new stake in Innospec during the 3rd quarter worth approximately $18,206,000. Goldman Sachs Group Inc. boosted its position in Innospec by 71.6% during the 4th quarter. Goldman Sachs Group Inc. now owns 484,968 shares of the specialty chemicals company's stock worth $37,119,000 after buying an additional 202,325 shares during the period. Millennium Management LLC grew its holdings in Innospec by 8,176.5% during the 1st quarter. Millennium Management LLC now owns 170,414 shares of the specialty chemicals company's stock worth $16,147,000 after acquiring an additional 168,355 shares during the last quarter. Finally, Norges Bank acquired a new position in Innospec in the 4th quarter valued at approximately $10,654,000. 96.64% of the stock is currently owned by institutional investors and hedge funds.

Innospec Company Profile

(Get Free Report)

Innospec Incorporated (NASDAQ: IOSP) is a global specialty chemicals company headquartered in Cleveland, Ohio. The company operates through three principal business segments: Fuel Specialties, Oilfield Services, and Performance Chemicals. In the Fuel Specialties segment, Innospec develops and supplies additives designed to enhance octane levels, improve combustion efficiency, reduce emissions and prevent deposit formation in gasoline and diesel engines. Its Oilfield Services division provides chemical technologies—such as surfactants, corrosion inhibitors and demulsifiers—to support exploration, drilling, production optimization and enhanced oil recovery operations.

See Also

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