Legal & General Group Plc purchased a new position in Innospec Inc. (NASDAQ:IOSP – Free Report) in the second quarter, according to the company in its most recent Form 13F filing with the SEC. The fund purchased 58,841 shares of the specialty chemicals company’s stock, valued at approximately $4,789,000. Legal & General Group Plc owned approximately 0.24% of Innospec at the end of the most recent reporting period.
A number of other institutional investors have also recently made changes to their positions in IOSP. Arrowstreet Capital Limited Partnership grew its position in Innospec by 196.5% in the first quarter. Arrowstreet Capital Limited Partnership now owns 18,497 shares of the specialty chemicals company’s stock worth $1,351,000 after acquiring an additional 12,259 shares in the last quarter. BlackRock Inc. purchased a new stake in Innospec during the second quarter valued at about $356,596,000. First Wilshire Securities Management Inc. lifted its stake in Innospec by 47.2% during the first quarter. First Wilshire Securities Management Inc. now owns 148,072 shares of the specialty chemicals company’s stock worth $10,812,000 after purchasing an additional 47,498 shares during the last quarter. Western Standard LLC boosted its holdings in shares of Innospec by 894.0% in the 4th quarter. Western Standard LLC now owns 268,367 shares of the specialty chemicals company’s stock worth $20,541,000 after purchasing an additional 241,367 shares in the last quarter. Finally, Intech Investment Management LLC boosted its holdings in shares of Innospec by 139.4% in the 4th quarter. Intech Investment Management LLC now owns 51,556 shares of the specialty chemicals company’s stock worth $3,946,000 after purchasing an additional 30,023 shares in the last quarter. Institutional investors own 96.64% of the company’s stock.
Innospec Trading Down 0.7%
Shares of NASDAQ:IOSP opened at $93.12 on Friday. The stock’s 50-day moving average price is $88.00 and its 200-day moving average price is $81.12. Innospec Inc. has a 12-month low of $65.51 and a 12-month high of $96.68. The stock has a market capitalization of $2.29 billion, a P/E ratio of 19.00, a price-to-earnings-growth ratio of 2.49 and a beta of 0.93.
Wall Street Analysts Forecast Growth
A number of equities analysts recently weighed in on IOSP shares. Seaport Research Partners reissued a “buy” rating and set a $110.00 price objective on shares of Innospec in a report on Thursday, August 6th. Weiss Ratings raised Innospec from a “hold (c-)” rating to a “hold (c)” rating in a research note on Thursday, August 6th. Finally, Wall Street Zen raised 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 MarketBeat.com, the company currently 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.
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