Intech Investment Management LLC Purchases 5,178 Shares of Innospec Inc. $IOSP

Key Points

• Intech Investment Management LLC increased its stake in Innospec Inc. by 30.7%, purchasing 5,178 additional shares and owning a total of 22,023 shares valued at approximately $2.08 million.
• Analysts have upgraded Innospec's rating from "hold" to "buy", with an average rating of "Strong Buy" based on recent reports.
• Innospec reported $1.26 earnings per share for its recent quarter, exceeding analysts' expectations and reflecting a slight revenue growth compared to the previous year.

Intech Investment Management LLC grew its position in Innospec Inc. (NASDAQ:IOSP - Free Report) by 30.7% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 22,023 shares of the specialty chemicals company's stock after purchasing an additional 5,178 shares during the quarter. Intech Investment Management LLC owned approximately 0.09% of Innospec worth $2,087,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds have also modified their holdings of the company. US Bancorp DE raised its stake in Innospec by 4.2% during the first quarter. US Bancorp DE now owns 5,082 shares of the specialty chemicals company's stock valued at $482,000 after purchasing an additional 207 shares in the last quarter. Hsbc Holdings PLC increased its stake in Innospec by 2.9% in the 1st quarter. Hsbc Holdings PLC now owns 7,398 shares of the specialty chemicals company's stock worth $700,000 after buying an additional 208 shares during the period. Baird Financial Group Inc. increased its stake in Innospec by 11.5% in the 1st quarter. Baird Financial Group Inc. now owns 2,170 shares of the specialty chemicals company's stock worth $206,000 after buying an additional 223 shares during the period. Hancock Whitney Corp increased its stake in Innospec by 6.8% in the 1st quarter. Hancock Whitney Corp now owns 5,435 shares of the specialty chemicals company's stock worth $515,000 after buying an additional 347 shares during the period. Finally, Tsfg LLC purchased a new position in Innospec in the 1st quarter worth about $35,000. 96.64% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Separately, Wall Street Zen raised shares of Innospec from a "hold" rating to a "buy" rating in a research note on Friday, September 5th. One research analyst has rated the stock with a Strong Buy rating, Based on data from MarketBeat.com, the stock currently has an average rating of "Strong Buy".

Innospec Stock Performance

NASDAQ:IOSP opened at $81.23 on Wednesday. Innospec Inc. has a fifty-two week low of $74.10 and a fifty-two week high of $128.35. The stock has a market capitalization of $2.02 billion, a P/E ratio of 104.14 and a beta of 1.11. The company's 50-day simple moving average is $84.07 and its 200-day simple moving average is $87.81.

Innospec (NASDAQ:IOSP - Get Free Report) last released its quarterly earnings results on Tuesday, August 5th. The specialty chemicals company reported $1.26 earnings per share for the quarter, beating analysts' consensus estimates of $1.17 by $0.09. Innospec had a net margin of 1.08% and a return on equity of 10.89%. The business had revenue of $439.70 million for the quarter, compared to analysts' expectations of $440.70 million. During the same period last year, the business earned $1.39 EPS. The company's revenue was up 1.1% compared to the same quarter last year. On average, research analysts forecast that Innospec Inc. will post 6.18 EPS for the current year.

Innospec Profile

Innospec Inc develops, manufactures, blends, markets, and supplies specialty chemicals in the United States, rest of North America, the United Kingdom, rest of Europe, and internationally. The company's Fuel Specialties segment offers a range of specialty chemical products that are used as additives in additives in diesel, jet, marine, fuel oil and other fuels.

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