Innospec (NASDAQ:IOSP) Reaches New 52-Week High Following Better-Than-Expected Earnings

Innospec Inc. (NASDAQ:IOSP - Get Free Report) hit a new 52-week high during trading on Friday after the company announced better than expected quarterly earnings. The stock traded as high as $133.71 and last traded at $132.02, with a volume of 31166 shares changing hands. The stock had previously closed at $126.30.

The specialty chemicals company reported $1.75 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.64 by $0.11. The company had revenue of $500.20 million for the quarter, compared to analyst estimates of $508.15 million. Innospec had a net margin of 7.14% and a return on equity of 13.69%.

Insiders Place Their Bets

In other Innospec news, SVP David B. Jones sold 2,500 shares of the business's stock in a transaction that occurred on Friday, March 1st. The shares were sold at an average price of $125.79, for a total transaction of $314,475.00. Following the sale, the senior vice president now directly owns 9,664 shares of the company's stock, valued at approximately $1,215,634.56. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In other news, SVP David B. Jones sold 2,500 shares of the company's stock in a transaction on Friday, March 1st. The shares were sold at an average price of $125.79, for a total value of $314,475.00. Following the sale, the senior vice president now directly owns 9,664 shares of the company's stock, valued at approximately $1,215,634.56. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, VP Philip John Boon sold 3,715 shares of the company's stock in a transaction on Thursday, February 22nd. The shares were sold at an average price of $122.07, for a total transaction of $453,490.05. Following the completion of the sale, the vice president now directly owns 18,516 shares in the company, valued at $2,260,248.12. The disclosure for this sale can be found here. Insiders have sold 36,500 shares of company stock valued at $4,532,959 in the last ninety days. 1.35% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Innospec

Institutional investors have recently modified their holdings of the company. TFO Wealth Partners LLC boosted its stake in shares of Innospec by 29,800.0% in the 4th quarter. TFO Wealth Partners LLC now owns 299 shares of the specialty chemicals company's stock valued at $37,000 after purchasing an additional 298 shares during the last quarter. GAMMA Investing LLC acquired a new position in shares of Innospec during the 4th quarter valued at $44,000. Motco acquired a new position in shares of Innospec during the 1st quarter valued at $132,000. Stonegate Investment Group LLC acquired a new position in shares of Innospec during the 4th quarter valued at $204,000. Finally, Nisa Investment Advisors LLC lifted its position in shares of Innospec by 5.4% during the 4th quarter. Nisa Investment Advisors LLC now owns 1,960 shares of the specialty chemicals company's stock valued at $242,000 after acquiring an additional 100 shares during the period. 96.64% of the stock is owned by institutional investors.

Innospec Trading Up 3.9 %

The stock's 50-day moving average is $124.18 and its 200-day moving average is $117.59. The company has a market cap of $3.27 billion, a price-to-earnings ratio of 23.56 and a beta of 1.11.

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.