Deutsche Bank AG Makes New $2.24 Million Investment in Innospec Inc. $IOSP

Deutsche Bank AG acquired a new stake in Innospec Inc. (NASDAQ:IOSP) in the second quarter, Holdings Channel.com reports. The firm acquired 27,565 shares of the specialty chemicals company’s stock, valued at approximately $2,244,000.

A number of other large investors also recently modified their holdings of the company. Baird Financial Group Inc. increased its position in shares of Innospec by 11.5% in the first quarter. Baird Financial Group Inc. now owns 2,170 shares of the specialty chemicals company’s stock worth $206,000 after purchasing an additional 223 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its stake in shares of Innospec by 4.5% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 14,833 shares of the specialty chemicals company’s stock valued at $1,405,000 after buying an additional 645 shares during the last quarter. Millennium Management LLC grew its position 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. NewEdge Advisors LLC increased its stake in shares of Innospec by 37.4% in the first quarter. NewEdge Advisors LLC now owns 4,567 shares of the specialty chemicals company’s stock worth $433,000 after buying an additional 1,243 shares during the period. Finally, Goldman Sachs Group Inc. increased its position in shares of Innospec by 6.4% in the first quarter. Goldman Sachs Group Inc. now owns 132,399 shares of the specialty chemicals company’s stock valued at $12,545,000 after acquiring an additional 8,014 shares during the period. 96.64% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

IOSP has been the subject of several recent analyst reports. 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 raised Innospec from a “hold (c-)” rating to a “hold (c)” rating in a research report on Thursday, August 6th. Finally, Seaport Research Partners reiterated a “buy” rating and issued a $110.00 price objective on shares of Innospec in a report on Thursday, August 6th. Two investment analysts have rated the stock with a Hold rating, According to data from MarketBeat.com, the stock has a consensus rating of “Hold”.

Innospec Stock Performance

Shares of NASDAQ:IOSP opened at $95.34 on Friday. Innospec Inc. has a 52-week low of $65.51 and a 52-week high of $96.41. The firm has a market capitalization of $2.35 billion, a P/E ratio of 19.46, a P/E/G ratio of 2.54 and a beta of 0.93. The stock has a 50 day moving average price of $86.89 and a 200-day moving average price of $80.88.

Innospec (NASDAQ:IOSP) last released its quarterly earnings results on Tuesday, August 4th. The specialty chemicals company reported $1.27 earnings per share for the quarter, beating the consensus estimate of $1.05 by $0.22. The company had revenue of $491.40 million for the quarter, compared to analyst estimates of $457.25 million. Innospec had a return on equity of 9.22% and a net margin of 6.60%.The firm’s revenue was up 11.8% on a year-over-year basis. During the same period in the previous year, the company posted $1.26 earnings per share. On average, equities analysts forecast that Innospec Inc. will post 5.03 EPS for the current fiscal 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.