Deutsche Bank AG Purchases Shares of 27,565 Innospec Inc. $IOSP

Key Points

• Deutsche Bank acquired 27,565 Innospec shares valued at approximately $2.24 million, while institutional investors and hedge funds collectively own 96.64% of IOSP.
• Innospec exceeded quarterly expectations, reporting $1.27 in earnings per share versus the $1.05 consensus estimate and $491.4 million in revenue, up 11.8% year over year.
• IOSP shares opened at $95.34, near their 52-week high of $96.41. Analysts maintain an average “Hold” rating, although Seaport Research Partners set a $110 price target and reiterated a “Buy” rating.

Deutsche Bank AG acquired a new position in shares of Innospec Inc. (NASDAQ:IOSP - Free Report) during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor acquired 27,565 shares of the specialty chemicals company's stock, valued at approximately $2,244,000. Deutsche Bank AG owned approximately 0.11% of Innospec at the end of the most recent reporting period.

Several other large investors also recently made changes to their positions in IOSP. EverSource Wealth Advisors LLC grew its stake in 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 acquiring an additional 487 shares during the period. Hantz Financial Services Inc. raised its position in shares of Innospec by 271.0% during the fourth quarter. Hantz Financial Services Inc. now owns 575 shares of the specialty chemicals company's stock worth $44,000 after purchasing an additional 420 shares during the period. Danske Bank A S acquired a new position in shares of Innospec during the third quarter worth approximately $46,000. Caitong International Asset Management Co. Ltd lifted its holdings 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 purchasing an additional 503 shares in the last quarter. Finally, Rockefeller Capital Management L.P. lifted its holdings in shares of Innospec by 125.4% in the 4th quarter. Rockefeller Capital Management L.P. now owns 728 shares of the specialty chemicals company's stock worth $56,000 after purchasing an additional 405 shares in the last quarter. 96.64% of the stock is currently owned by institutional investors and hedge funds.

Innospec Stock Performance

Shares of IOSP stock opened at $95.34 on Friday. The firm has a market cap of $2.35 billion, a price-to-earnings ratio of 19.46, a P/E/G ratio of 2.54 and a beta of 0.93. Innospec Inc. has a 52 week low of $65.51 and a 52 week high of $96.41. The firm's 50-day simple moving average is $86.89 and its two-hundred day simple moving average is $80.88.

Innospec (NASDAQ:IOSP - Get Free Report) last released its earnings results on Tuesday, August 4th. The specialty chemicals company reported $1.27 earnings per share for the quarter, beating analysts' consensus estimates of $1.05 by $0.22. Innospec had a net margin of 6.60% and a return on equity of 9.22%. The firm had revenue of $491.40 million during the quarter, compared to the consensus estimate of $457.25 million. During the same period in the prior year, the firm earned $1.26 EPS. The company's revenue was up 11.8% compared to the same quarter last year. Analysts forecast that Innospec Inc. will post 5.03 earnings per share for the current year.

Analysts Set New Price Targets

A number of brokerages have commented on IOSP. Seaport Research Partners restated a "buy" rating and set a $110.00 price target on shares of Innospec in a research note on Thursday, August 6th. Wall Street Zen upgraded shares of Innospec from a "buy" rating to a "strong-buy" rating in a report on Saturday, August 8th. Finally, Weiss Ratings raised shares of Innospec from a "hold (c-)" rating to a "hold (c)" rating in a research report on Thursday, August 6th. Two investment analysts have rated the stock with a Hold rating, According to data from MarketBeat, Innospec presently has an average 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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