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Barnes Corbin, Senior Vice President of Corporate Development and Investor Relations at Innospec Inc . (NASDAQ:IOSP), a $2.61 billion market cap specialty chemicals company with strong financial health and a current ratio of 2.58, recently reported a sale of company stock. According to InvestingPro analysis, the stock is currently trading near its 52-week low of $99.49. On February 24, Corbin sold 598 shares of Innospec common stock at an average price of $103.06 per share, amounting to a total transaction value of $61,629.
Earlier on the same day, Corbin exercised stock options to acquire the same number of shares at a price of $99.68 each, totaling $59,608. Following these transactions, Corbin’s direct ownership of Innospec shares stands at 8,051.
In other recent news, Innospec Inc. reported its fourth-quarter 2024 earnings, which exceeded analysts’ expectations. The company achieved an earnings per share (EPS) of $1.41, surpassing the projected $1.36, and reported revenue of $466.8 million, above the anticipated $458.23 million. Despite these positive results, Innospec faced a significant 40% decline in revenue from its Oilfield Services segment. The company maintains a strong balance sheet with no debt and $289.2 million in cash and cash equivalents. Analyst firms have not recently upgraded or downgraded the stock, but investor concerns over certain business segments and future growth prospects have been noted. Innospec is focusing on innovation and the integration of recent acquisitions to position itself for future growth. The company expects sequential quarterly improvements and partial recovery in its Oilfield Services segment in the latter half of 2025.
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