Innospec (NASDAQ:IOSP) Issues Quarterly Earnings Results, Beats Estimates By $0.22 EPS

Key Points

• Innospec reported quarterly EPS of $1.27, beating analyst estimates of $1.05 by $0.22. The company posted a 6.38% net margin and 9.32% return on equity.
• Shares rose 1.4% to $86.70 during Tuesday trading, with a market capitalization of approximately $2.14 billion. The stock remains below its 52-week high of $92.14.
• Analyst sentiment improved modestly, though the consensus rating remains “Hold.” Institutional investors own 96.64% of the company, with several major funds recently increasing their positions.

Innospec (NASDAQ:IOSP - Get Free Report) released its quarterly earnings data on Tuesday. The specialty chemicals company reported $1.27 EPS for the quarter, topping analysts' consensus estimates of $1.05 by $0.22, Zacks reports. Innospec had a net margin of 6.38% and a return on equity of 9.32%.

Innospec Trading Up 1.4%

NASDAQ:IOSP traded up $1.22 during mid-day trading on Tuesday, hitting $86.70. The stock had a trading volume of 174,795 shares, compared to its average volume of 208,133. The company has a 50 day simple moving average of $83.12 and a 200-day simple moving average of $79.45. The stock has a market capitalization of $2.14 billion, a price-to-earnings ratio of 18.89, a P/E/G ratio of 2.37 and a beta of 0.93. Innospec has a 52 week low of $65.51 and a 52 week high of $92.14.

Analyst Ratings Changes

A number of analysts have weighed in on the stock. Wall Street Zen raised shares of Innospec from a "hold" rating to a "buy" rating in a report on Saturday, July 18th. Zacks Research raised shares of Innospec from a "strong sell" rating to a "hold" rating in a research report on Friday, April 24th. Finally, Weiss Ratings raised shares of Innospec from a "sell (d+)" rating to a "hold (c-)" rating in a research report on Wednesday, July 1st. Two research analysts have rated the stock with a Hold rating, According to MarketBeat, Innospec currently has an average rating of "Hold".

Institutional Investors Weigh In On Innospec

Several large investors have recently made changes to their positions in the company. Goldman Sachs Group Inc. increased 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 valued at $37,119,000 after acquiring an additional 202,325 shares during the period. Millennium Management LLC boosted its position in Innospec by 8,176.5% during the 1st quarter. Millennium Management LLC now owns 170,414 shares of the specialty chemicals company's stock worth $16,147,000 after acquiring an additional 168,355 shares during the period. Norges Bank bought a new position in shares of Innospec in the fourth quarter worth $10,654,000. Qube Research & Technologies Ltd grew its stake in shares of Innospec by 72.1% in the second quarter. Qube Research & Technologies Ltd now owns 306,761 shares of the specialty chemicals company's stock worth $25,796,000 after purchasing an additional 128,544 shares in the last quarter. Finally, Victory Capital Management Inc. increased its holdings in shares of Innospec by 13.7% during the fourth quarter. Victory Capital Management Inc. now owns 950,074 shares of the specialty chemicals company's stock valued at $72,719,000 after purchasing an additional 114,179 shares during the period. Institutional investors and hedge funds own 96.64% of the company's stock.

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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