GSA Capital Partners LLP Buys New Position in Innospec Inc. $IOSP

Key Points

• GSA Capital Partners LLP bought 14,271 Innospec shares worth approximately $1.16 million, while institutional investors collectively own 96.64% of the company.
• Analyst sentiment remains mixed but has improved, with rating upgrades from Wall Street Zen, Weiss Ratings, and Zacks Research; MarketBeat’s consensus rating is “Hold,” while Seaport maintained a “Buy” rating with a $110 price target.
• Innospec exceeded quarterly expectations, reporting $1.27 in EPS versus $1.05 estimated and revenue of $491.4 million versus $457.25 million expected. Revenue increased 11.8% year over year, and shares opened at $93.83 near their 52-week high.

GSA Capital Partners LLP purchased a new stake in Innospec Inc. (NASDAQ:IOSP - Free Report) during the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund purchased 14,271 shares of the specialty chemicals company's stock, valued at approximately $1,162,000. GSA Capital Partners LLP owned 0.06% of Innospec as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Hantz Financial Services Inc. increased its stake in shares of Innospec by 271.0% in the 4th quarter. Hantz Financial Services Inc. now owns 575 shares of the specialty chemicals company's stock valued at $44,000 after acquiring an additional 420 shares in the last quarter. EverSource Wealth Advisors LLC lifted its position in shares of Innospec by 1,159.5% during the 2nd 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. Danske Bank A S bought a new position in Innospec during the third quarter worth $46,000. Caitong International Asset Management Co. Ltd boosted its stake in Innospec by 316.4% during the fourth 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. Finally, Rockefeller Capital Management L.P. grew its holdings in Innospec by 125.4% in the fourth 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 during the period. 96.64% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Several equities analysts have recently weighed in on IOSP shares. Seaport Research Partners reiterated a "buy" rating and set a $110.00 price objective on shares of Innospec in a report on Thursday, August 6th. Wall Street Zen raised Innospec from a "buy" rating to a "strong-buy" rating in a research note on Saturday, August 8th. Weiss Ratings raised Innospec from a "hold (c-)" rating to a "hold (c)" rating in a research note on Thursday, August 6th. Finally, Zacks Research upgraded Innospec from a "strong sell" rating to a "hold" rating in a report on Friday, April 24th. Two analysts have rated the stock with a Hold rating, Based on data from MarketBeat.com, Innospec has an average rating of "Hold".

Innospec Price Performance

IOSP opened at $93.83 on Tuesday. Innospec Inc. has a fifty-two week low of $65.51 and a fifty-two week high of $94.67. The company's 50-day moving average is $85.27 and its 200 day moving average is $80.29. The firm has a market capitalization of $2.31 billion, a P/E ratio of 19.15, a PEG ratio of 2.49 and a beta of 0.93.

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 (EPS) for the quarter, beating the consensus estimate of $1.05 by $0.22. The company 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%.Innospec's quarterly revenue was up 11.8% on a year-over-year basis. During the same period in the prior year, the company posted $1.26 earnings per share. On average, equities research analysts expect that Innospec Inc. will post 5.03 earnings per share for the current 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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