Hsbc Holdings PLC Acquires New Shares in Innospec Inc. $IOSP

Key Points

• Hsbc Holdings PLC acquired 23,693 Innospec shares worth approximately $1.94 million, giving it a 0.10% stake. Institutional investors collectively own 96.64% of the company, with several firms significantly increasing their positions.
• Innospec reported quarterly EPS of $1.27, beating estimates by $0.22, while revenue rose 11.8% year over year to $491.4 million. The stock opened at $95.38, near its 52-week high of $96.68.
• Analyst sentiment remains mixed but favorable: MarketBeat’s average rating is “Hold,” while Seaport Research Partners maintained a “Buy” rating with a $110 price target and Wall Street Zen upgraded the stock to “Strong Buy.”

Hsbc Holdings PLC bought a new stake in shares of Innospec Inc. (NASDAQ:IOSP - Free Report) during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm bought 23,693 shares of the specialty chemicals company's stock, valued at approximately $1,936,000. Hsbc Holdings PLC owned about 0.10% of Innospec at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also modified their holdings of the business. BlackRock Inc. purchased a new position in shares of Innospec in the second quarter worth $356,596,000. Assenagon Asset Management S.A. increased its holdings in Innospec by 175.5% in the 1st quarter. Assenagon Asset Management S.A. now owns 490,884 shares of the specialty chemicals company's stock worth $35,844,000 after buying an additional 312,680 shares in the last quarter. Western Standard LLC increased its holdings in 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 buying an additional 241,367 shares in the last quarter. Goldman Sachs Group Inc. raised its position in Innospec by 71.6% in the 4th quarter. Goldman Sachs Group Inc. now owns 484,968 shares of the specialty chemicals company's stock worth $37,119,000 after buying an additional 202,325 shares during the last quarter. Finally, Millennium Management LLC raised its position in Innospec by 8,176.5% in the 1st quarter. Millennium Management LLC now owns 170,414 shares of the specialty chemicals company's stock worth $16,147,000 after buying an additional 168,355 shares during the last quarter. Institutional investors own 96.64% of the company's stock.

Innospec Stock Performance

IOSP stock opened at $95.38 on Monday. Innospec Inc. has a fifty-two week low of $65.51 and a fifty-two week high of $96.68. The business's 50-day moving average is $87.14 and its two-hundred day moving average is $80.95. The company has a market cap of $2.35 billion, a price-to-earnings ratio of 19.47, a P/E/G ratio of 2.53 and a beta of 0.93.

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

Wall Street Analyst Weigh In

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

About Innospec

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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