Man Group plc Makes New $501,000 Investment in Innospec Inc. $IOSP

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

Several other institutional investors have also recently made changes to their positions in the company. BlackRock Inc. purchased a new position in shares of Innospec during the 2nd quarter worth about $356,596,000. Dimensional Fund Advisors LP raised its position in Innospec by 5.7% in the 1st quarter. Dimensional Fund Advisors LP now owns 1,242,089 shares of the specialty chemicals company’s stock worth $90,698,000 after purchasing an additional 66,967 shares during the period. Victory Capital Management Inc. lifted its stake in Innospec by 13.7% in the fourth quarter. Victory Capital Management Inc. now owns 950,074 shares of the specialty chemicals company’s stock worth $72,719,000 after purchasing an additional 114,179 shares during the last quarter. State Street Corp grew its stake in shares of Innospec by 2.1% during the fourth quarter. State Street Corp now owns 949,038 shares of the specialty chemicals company’s stock valued at $72,639,000 after buying an additional 19,915 shares during the last quarter. Finally, Millennium Management LLC grew its stake in shares of Innospec by 10.8% during the fourth quarter. Millennium Management LLC now owns 533,312 shares of the specialty chemicals company’s stock valued at $40,820,000 after buying an additional 51,824 shares during the last quarter. Institutional investors own 96.64% of the company’s stock.

Wall Street Analysts Forecast Growth

IOSP has been the subject of a number of research analyst reports. Seaport Research Partners reissued a “buy” rating and set a $110.00 price target on shares of Innospec in a research note on Thursday, August 6th. Wall Street Zen upgraded Innospec from a “buy” rating to a “strong-buy” rating in a research note on Saturday, August 8th. Finally, Weiss Ratings upgraded Innospec from a “hold (c-)” rating to a “hold (c)” rating in a research report on Thursday, August 6th. Two research analysts have rated the stock with a Hold rating, According to data from MarketBeat.com, the company currently has an average rating of “Hold”.

Innospec Stock Performance

Shares of IOSP opened at $93.95 on Friday. The company has a 50 day moving average price of $88.22 and a 200-day moving average price of $81.21. Innospec Inc. has a fifty-two week low of $65.51 and a fifty-two week high of $96.68. The stock has a market capitalization of $2.31 billion, a PE ratio of 19.17, a PEG ratio of 2.47 and a beta of 0.93.

Innospec (NASDAQ:IOSP) last issued its quarterly earnings data 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. The company had revenue of $491.40 million for the quarter, compared to analyst estimates of $457.25 million. Innospec had a net margin of 6.60% and a return on equity of 9.22%. Innospec’s revenue was up 11.8% compared to the same quarter last year. During the same period last year, the company posted $1.26 earnings per share. Equities research analysts forecast that Innospec Inc. will post 5.03 EPS for the current year.

About Innospec

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.