The Manufacturers Life Insurance Company Invests $982,000 in Innospec Inc. $IOSP

Key Points

• The Manufacturers Life Insurance Company initiated a $982,000 position in Innospec by purchasing 12,070 shares during the second quarter. Institutional investors collectively own 96.64% of IOSP.
• Analyst sentiment remains mixed: Seaport Research Partners reiterated a “buy” rating with a $110 price target, while MarketBeat’s consensus rating is “Hold.” Wall Street Zen upgraded the stock to “strong-buy.”
• Innospec reported quarterly EPS of $1.27, beating estimates of $1.05, while revenue rose 11.8% year over year to $491.4 million. Shares opened at $93.95, near their 52-week high of $96.68.

The Manufacturers Life Insurance Company bought a new stake in Innospec Inc. (NASDAQ:IOSP - Free Report) during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm bought 12,070 shares of the specialty chemicals company's stock, valued at approximately $982,000.

Several other hedge funds also recently modified their holdings of IOSP. Meeder Asset Management Inc. purchased a new stake in Innospec in the 2nd quarter valued at $36,000. Hantz Financial Services Inc. boosted its holdings in Innospec by 271.0% during the 4th quarter. Hantz Financial Services Inc. now owns 575 shares of the specialty chemicals company's stock worth $44,000 after acquiring an additional 420 shares during the last quarter. EverSource Wealth Advisors LLC boosted its holdings in Innospec by 1,159.5% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 529 shares of the specialty chemicals company's stock worth $44,000 after acquiring an additional 487 shares during the last quarter. Danske Bank A S bought a new stake in shares of Innospec in the 3rd quarter worth $46,000. Finally, Caitong International Asset Management Co. Ltd grew its stake in shares of Innospec by 316.4% in the 4th quarter. Caitong International Asset Management Co. Ltd now owns 662 shares of the specialty chemicals company's stock worth $51,000 after acquiring an additional 503 shares in the last quarter. Hedge funds and other institutional investors own 96.64% of the company's stock.

Analysts Set New Price Targets

IOSP has been the topic of a number of recent analyst reports. Weiss Ratings raised shares of Innospec from a "hold (c-)" rating to a "hold (c)" rating in a research report on Thursday, August 6th. Seaport Research Partners reaffirmed a "buy" rating and issued a $110.00 price objective on shares of Innospec in a research report on Thursday, August 6th. Finally, Wall Street Zen upgraded shares of Innospec from a "buy" rating to a "strong-buy" rating in a research note on Saturday, August 8th. Two research analysts have rated the stock with a Hold rating, According to data from MarketBeat, Innospec has a consensus rating of "Hold".

Innospec Trading Up 0.9%

IOSP stock opened at $93.95 on Friday. The stock has a market cap of $2.31 billion, a P/E ratio of 19.17, a P/E/G ratio of 2.49 and a beta of 0.93. The stock's fifty day simple moving average is $88.22 and its two-hundred day simple moving average is $81.21. Innospec Inc. has a 1-year low of $65.51 and a 1-year high of $96.68.

Innospec (NASDAQ:IOSP - Get Free Report) last announced its earnings results 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 firm had revenue of $491.40 million during 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 business's revenue was up 11.8% compared to the same quarter last year. During the same period last year, the firm posted $1.26 EPS. As a group, analysts forecast that Innospec Inc. will post 5.03 earnings per share for the current fiscal year.

Innospec 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.

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