Ieq Capital LLC Invests $3.69 Million in Innospec Inc. $IOSP

Key Points

• Ieq Capital LLC acquired a new $3.69 million stake in Innospec during the second quarter, purchasing 45,343 shares, while institutional investors collectively held 96.64% of the company.
• Analysts maintain a consensus “Hold” rating on Innospec, although Seaport Research Partners reiterated a “Buy” rating with a $110 price target and Wall Street Zen upgraded the stock to “Strong Buy.”
• Innospec reported quarterly EPS of $1.27, beating estimates by $0.22, while revenue rose 11.8% year over year to $491.4 million. Shares opened at $94.73, near the company’s 52-week high of $95.00.

Ieq Capital LLC bought a new stake in Innospec Inc. (NASDAQ:IOSP - Free Report) in the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor bought 45,343 shares of the specialty chemicals company's stock, valued at approximately $3,690,000. Ieq Capital LLC owned 0.18% of Innospec at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Meeder Asset Management Inc. acquired a new position in Innospec in the 2nd quarter worth $36,000. Hantz Financial Services Inc. grew its stake 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 valued at $44,000 after acquiring an additional 420 shares in the last quarter. EverSource Wealth Advisors LLC increased its position in shares of Innospec by 1,159.5% during the second quarter. EverSource Wealth Advisors LLC now owns 529 shares of the specialty chemicals company's stock worth $44,000 after acquiring an additional 487 shares during the last quarter. Danske Bank A S acquired a new position in shares of Innospec in the third quarter worth about $46,000. Finally, Caitong International Asset Management Co. Ltd lifted its stake in shares of Innospec by 316.4% in 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. Hedge funds and other institutional investors own 96.64% of the company's stock.

Analysts Set New Price Targets

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

Innospec Stock Up 1.2%

Shares of Innospec stock opened at $94.73 on Tuesday. The firm has a market cap of $2.33 billion, a P/E ratio of 19.33, a P/E/G ratio of 2.48 and a beta of 0.93. Innospec Inc. has a fifty-two week low of $65.51 and a fifty-two week high of $95.00. The business has a 50-day moving average price of $86.17 and a 200 day moving average price of $80.70.

Innospec (NASDAQ:IOSP - Get Free Report) last released its earnings results on Tuesday, August 4th. The specialty chemicals company reported $1.27 EPS for the quarter, topping analysts' consensus estimates of $1.05 by $0.22. The company had revenue of $491.40 million for the quarter, compared to the consensus estimate 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% compared to the same quarter last year. During the same quarter last year, the business posted $1.26 EPS. As a group, equities research analysts anticipate that Innospec Inc. will post 5.03 earnings per share for the current 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.

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