Insider Selling: Innospec CEO Sells 4,800 Shares of Stock (IOSP)
Innospec (NASDAQ:IOSP) CEO Patrick Williams unloaded 4,800 shares of the stock in a transaction that occurred on Tuesday, February 25th. The shares were sold at an average price of $43.67, for a total value of $209,616.00. Following the sale, the chief executive officer now directly owns 178,934 shares in the company, valued at approximately $7,814,048. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link.
Shares of Innospec (NASDAQ:IOSP) traded down 1.01% during mid-day trading on Thursday, hitting $43.26. 26,908 shares of the company’s stock traded hands. Innospec has a one year low of $39.27 and a one year high of $49.41. The stock has a 50-day moving average of $43.62 and a 200-day moving average of $44.65. The company has a market cap of $1.053 billion and a price-to-earnings ratio of 13.57.
Innospec (NASDAQ:IOSP) last announced its earnings results on Thursday, February 13th. The company reported $1.06 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.96 by $0.10. The company had revenue of $241.60 million for the quarter, compared to the consensus estimate of $250.00 million. On average, analysts predict that Innospec will post $3.51 earnings per share for the current fiscal year.
IOSP has been the subject of a number of recent research reports. Analysts at CJS Securities downgraded shares of Innospec to a “market perform” rating in a research note on Friday, February 14th. Analysts at Monness Crespi & Hardt raised their price target on shares of Innospec from $46.00 to $53.00 in a research note on Friday, February 14th. They now have a “buy” rating on the stock.
Innospec Inc (NASDAQ:IOSP) develops, manufactures, blends and markets fuel additives, personal care and fragrance products and other specialty chemicals.
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