Bank of New York Mellon Corp Makes New Investment in Innospec Inc. $IOSP

Bank of New York Mellon Corp acquired a new position in Innospec Inc. (NASDAQ:IOSP - Free Report) in the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor acquired 137,261 shares of the specialty chemicals company's stock, valued at approximately $11,172,000. Bank of New York Mellon Corp owned approximately 0.56% of Innospec at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently modified their holdings of the company. EverSource Wealth Advisors LLC raised its holdings in shares of Innospec by 1,159.5% during the second quarter. EverSource Wealth Advisors LLC now owns 529 shares of the specialty chemicals company's stock valued at $44,000 after acquiring an additional 487 shares during the period. Hantz Financial Services Inc. boosted its stake in Innospec by 271.0% in the 4th quarter. Hantz Financial Services Inc. now owns 575 shares of the specialty chemicals company's stock worth $44,000 after purchasing an additional 420 shares during the period. Danske Bank A S purchased a new position in Innospec during the 3rd quarter worth approximately $46,000. Caitong International Asset Management Co. Ltd grew its position in Innospec by 316.4% during the 4th quarter. Caitong International Asset Management Co. Ltd now owns 662 shares of the specialty chemicals company's stock worth $51,000 after purchasing an additional 503 shares in the last quarter. Finally, Rockefeller Capital Management L.P. raised its stake in Innospec by 125.4% during the 4th quarter. Rockefeller Capital Management L.P. now owns 728 shares of the specialty chemicals company's stock valued at $56,000 after purchasing an additional 405 shares during the period. 96.64% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

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

Innospec Trading Up 1.2%

NASDAQ IOSP opened at $93.76 on Thursday. The business has a fifty day simple moving average of $87.79 and a 200 day simple moving average of $81.07. Innospec Inc. has a 12 month low of $65.51 and a 12 month high of $96.68. The firm has a market capitalization of $2.31 billion, a P/E ratio of 19.13, a PEG ratio of 2.45 and a beta of 0.93.

Innospec (NASDAQ:IOSP - Get Free Report) last released its quarterly earnings data on Tuesday, August 4th. The specialty chemicals company reported $1.27 EPS for the quarter, topping the consensus estimate of $1.05 by $0.22. The company had revenue of $491.40 million during the quarter, compared to the consensus estimate of $457.25 million. Innospec had a net margin of 6.60% and a return on equity of 9.22%. Innospec's revenue for the quarter was up 11.8% on a year-over-year basis. During the same period last year, the firm earned $1.26 EPS. As a group, sell-side analysts predict that Innospec Inc. will post 5.03 EPS for the current fiscal 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.

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