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

The Manufacturers Life Insurance Company purchased a new position in Innospec Inc. (NASDAQ:IOSP) during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund purchased 12,070 shares of the specialty chemicals company’s stock, valued at approximately $982,000.

Several other institutional investors have also bought and sold shares of IOSP. Meeder Asset Management Inc. bought a new position in Innospec during the second quarter valued at $36,000. Hantz Financial Services Inc. raised its stake in shares of Innospec by 271.0% in the fourth quarter. Hantz Financial Services Inc. now owns 575 shares of the specialty chemicals company’s stock valued at $44,000 after buying an additional 420 shares during the period. EverSource Wealth Advisors LLC raised its stake in shares of Innospec by 1,159.5% in the second quarter. EverSource Wealth Advisors LLC now owns 529 shares of the specialty chemicals company’s stock valued at $44,000 after buying an additional 487 shares during the period. Danske Bank A S bought a new stake in shares of Innospec in the third quarter valued at $46,000. Finally, Caitong International Asset Management Co. Ltd lifted its position in shares of 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 valued at $51,000 after buying an additional 503 shares during the last quarter. Hedge funds and other institutional investors own 96.64% of the company’s stock.

Innospec Trading Up 0.9%

Innospec stock opened at $93.95 on Friday. Innospec Inc. has a 1-year low of $65.51 and a 1-year high of $96.68. The firm has a market capitalization of $2.31 billion, a price-to-earnings ratio of 19.17, a P/E/G ratio of 2.49 and a beta of 0.93. The firm has a 50 day simple moving average of $88.22 and a 200 day simple moving average of $81.21.

Innospec (NASDAQ:IOSP) last issued its earnings results on Tuesday, August 4th. The specialty chemicals company reported $1.27 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.05 by $0.22. The business had revenue of $491.40 million for the quarter, compared to analysts’ expectations of $457.25 million. Innospec had a net margin of 6.60% and a return on equity of 9.22%. The business’s revenue for the quarter was up 11.8% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $1.26 EPS. On average, equities research analysts forecast that Innospec Inc. will post 5.03 EPS for the current year.

Analyst Upgrades and Downgrades

Several research analysts have recently weighed in on IOSP shares. Wall Street Zen upgraded Innospec from a “buy” rating to a “strong-buy” rating in a research note on Saturday, August 8th. Seaport Research Partners restated a “buy” rating and issued a $110.00 price objective on shares of Innospec in a research note on Thursday, August 6th. Finally, Weiss Ratings raised shares of Innospec from a “hold (c-)” rating to a “hold (c)” rating in a report on Thursday, August 6th. Two research analysts have rated the stock with a Hold rating, According to MarketBeat.com, the company has a consensus rating of “Hold”.

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.