Intech Investment Management LLC Buys 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 increased its position in Innospec Inc. (NASDAQ:IOSP - Free Report) by 30.7% in the 1st quarter, according to its most recent filing with the SEC. The fund owned 22,023 shares of the specialty chemicals company's stock after purchasing an additional 5,178 shares during the period. Intech Investment Management LLC owned 0.09% of Innospec worth $2,087,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also made changes to their positions in the company. Tsfg LLC purchased a new stake in shares of Innospec in the 1st quarter valued at about $35,000. Caitong International Asset Management Co. Ltd purchased a new position in Innospec during the first quarter worth $121,000. State of Wyoming raised its holdings in Innospec by 167.0% in the 4th quarter. State of Wyoming now owns 1,976 shares of the specialty chemicals company's stock valued at $217,000 after acquiring an additional 1,236 shares during the last quarter. Quantinno Capital Management LP acquired a new position in Innospec in the 4th quarter valued at $237,000. Finally, Baird Financial Group Inc. raised its holdings 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 valued at $206,000 after acquiring an additional 223 shares during the last quarter. 96.64% of the stock is owned by hedge funds and other institutional investors.

Innospec Stock Performance

Shares of IOSP traded down $2.54 during mid-day trading on Friday, reaching $79.55. 773,620 shares of the company's stock traded hands, compared to its average volume of 165,475. Innospec Inc. has a 12 month low of $74.10 and a 12 month high of $128.35. The stock has a market capitalization of $1.98 billion, a P/E ratio of 101.99 and a beta of 1.11. The business's 50-day moving average price is $83.58 and its 200-day moving average price is $87.52.

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

Wall Street Analysts Forecast Growth

Separately, Wall Street Zen downgraded Innospec from a "buy" rating to a "hold" rating in a report on Saturday. One equities research analyst has rated the stock with a Strong Buy rating, According to data from MarketBeat, the company presently has a consensus rating of "Strong Buy".

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.