Sei Investments Co. Acquires 70,419 Shares of Innospec Inc. $IOSP

Sei Investments Co. lifted its holdings in shares of Innospec Inc. (NASDAQ:IOSP) by 67.9% during the first quarter, HoldingsChannel reports. The firm owned 174,121 shares of the specialty chemicals company’s stock after acquiring an additional 70,419 shares during the quarter. Sei Investments Co.’s holdings in Innospec were worth $12,714,000 as of its most recent SEC filing.

Several other institutional investors have also modified their holdings of the business. Baird Financial Group Inc. increased its stake in Innospec by 11.5% during the 1st quarter. Baird Financial Group Inc. now owns 2,170 shares of the specialty chemicals company’s stock worth $206,000 after purchasing an additional 223 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its holdings in Innospec by 4.5% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 14,833 shares of the specialty chemicals company’s stock worth $1,405,000 after buying an additional 645 shares during the period. Millennium Management LLC lifted its stake in Innospec by 8,176.5% in the first quarter. Millennium Management LLC now owns 170,414 shares of the specialty chemicals company’s stock valued at $16,147,000 after buying an additional 168,355 shares in the last quarter. NewEdge Advisors LLC lifted its stake in Innospec by 37.4% in the first quarter. NewEdge Advisors LLC now owns 4,567 shares of the specialty chemicals company’s stock valued at $433,000 after buying an additional 1,243 shares in the last quarter. Finally, Goldman Sachs Group Inc. boosted its holdings in shares of Innospec by 6.4% in the first quarter. Goldman Sachs Group Inc. now owns 132,399 shares of the specialty chemicals company’s stock valued at $12,545,000 after buying an additional 8,014 shares during the period. Institutional investors own 96.64% of the company’s stock.

Analysts Set New Price Targets

IOSP has been the subject of several research reports. Zacks Research raised shares of Innospec from a “strong sell” rating to a “hold” rating in a research report on Friday, April 24th. Wall Street Zen raised shares of Innospec from a “hold” rating to a “buy” rating in a research report on Saturday, July 18th. Finally, Weiss Ratings raised shares of Innospec from a “sell (d+)” rating to a “hold (c-)” rating in a research note on Wednesday, July 1st. Two research analysts have rated the stock with a Hold rating, Based on data from MarketBeat, the company currently has a consensus rating of “Hold”.

Innospec Stock Performance

NASDAQ:IOSP opened at $85.98 on Friday. The stock has a 50-day simple moving average of $83.00 and a 200 day simple moving average of $79.42. Innospec Inc. has a 52-week low of $65.51 and a 52-week high of $92.14. The company has a market cap of $2.12 billion, a PE ratio of 18.73, a PEG ratio of 2.37 and a beta of 0.93.

Innospec (NASDAQ:IOSP) last released its earnings results on Friday, May 8th. The specialty chemicals company reported $1.05 EPS for the quarter, beating the consensus estimate of $1.02 by $0.03. Innospec had a return on equity of 9.32% and a net margin of 6.38%.The firm had revenue of $453.20 million for the quarter, compared to analysts’ expectations of $432.14 million. During the same quarter in the previous year, the business posted $1.42 EPS. The business’s quarterly revenue was up 2.8% compared to the same quarter last year. On average, research analysts predict that Innospec Inc. will post 4.84 earnings per share for the current fiscal year.

Innospec Company 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.