Man Group plc Invests $501,000 in Innospec Inc. $IOSP

Man Group plc purchased a new stake in Innospec Inc. (NASDAQ:IOSP) during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund purchased 6,151 shares of the specialty chemicals company’s stock, valued at approximately $501,000.

Other hedge funds also recently bought and sold shares of the company. State of Wyoming raised its position in shares of Innospec by 27.5% during the 2nd quarter. State of Wyoming now owns 801 shares of the specialty chemicals company’s stock valued at $67,000 after buying an additional 173 shares in the last quarter. California State Teachers Retirement System grew its position in shares of Innospec by 0.8% in the 2nd quarter. California State Teachers Retirement System now owns 23,062 shares of the specialty chemicals company’s stock worth $1,939,000 after buying an additional 179 shares during the last quarter. Franklin Resources Inc. increased its position in shares of Innospec by 0.7% during the third quarter. Franklin Resources Inc. now owns 27,868 shares of the specialty chemicals company’s stock valued at $2,150,000 after buying an additional 196 shares during the period. Amundi lifted its holdings in Innospec by 5.0% in the third quarter. Amundi now owns 4,490 shares of the specialty chemicals company’s stock worth $354,000 after buying an additional 214 shares during the period. Finally, Inspire Investing LLC boosted its position in shares of Innospec by 3.6% during the fourth quarter. Inspire Investing LLC now owns 6,086 shares of the specialty chemicals company’s stock valued at $466,000 after purchasing an additional 214 shares in the last quarter. Hedge funds and other institutional investors own 96.64% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts have weighed in on IOSP shares. Wall Street Zen raised shares of Innospec from a “buy” rating to a “strong-buy” rating in a research note on Saturday, August 8th. Weiss Ratings upgraded Innospec from a “hold (c-)” rating to a “hold (c)” rating in a report on Thursday, August 6th. Finally, Seaport Research Partners restated a “buy” rating and issued a $110.00 target price on shares of Innospec in a report on Thursday, August 6th. Two analysts have rated the stock with a Hold rating, Based on data from MarketBeat, the stock presently has a consensus rating of “Hold”.

Innospec Stock Up 0.9%

IOSP stock opened at $93.95 on Friday. Innospec Inc. has a 52 week low of $65.51 and a 52 week high of $96.68. The company has a fifty day simple moving average of $88.22 and a two-hundred day simple moving average of $81.21. The firm has a market capitalization of $2.31 billion, a P/E ratio of 19.17, a price-to-earnings-growth ratio of 2.47 and a beta of 0.93.

Innospec (NASDAQ:IOSP) last announced its earnings results on Tuesday, August 4th. The specialty chemicals company reported $1.27 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.05 by $0.22. Innospec had a net margin of 6.60% and a return on equity of 9.22%. The firm had revenue of $491.40 million for the quarter, compared to analysts’ expectations of $457.25 million. During the same period in the prior year, the company earned $1.26 EPS. The business’s revenue was up 11.8% compared to the same quarter last year. As a group, analysts anticipate that Innospec Inc. will post 5.03 EPS for the current year.

Innospec Company Profile

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.