Hsbc Holdings PLC Has $1.85 Million Position in Innospec Inc. $IOSP

Hsbc Holdings PLC lifted its stake in shares of Innospec Inc. (NASDAQ:IOSPFree Report) by 70.7% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 25,351 shares of the specialty chemicals company’s stock after purchasing an additional 10,504 shares during the quarter. Hsbc Holdings PLC owned 0.10% of Innospec worth $1,855,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors have also added to or reduced their stakes in the company. Hudson Edge Investment Partners Inc. boosted its position in Innospec by 94.0% in the first quarter. Hudson Edge Investment Partners Inc. now owns 8,373 shares of the specialty chemicals company’s stock valued at $611,000 after buying an additional 4,057 shares in the last quarter. New York State Teachers Retirement System increased its holdings in shares of Innospec by 8.7% during the first quarter. New York State Teachers Retirement System now owns 8,651 shares of the specialty chemicals company’s stock worth $632,000 after buying an additional 689 shares in the last quarter. Y Intercept Hong Kong Ltd lifted its stake in shares of Innospec by 35.3% in the 1st quarter. Y Intercept Hong Kong Ltd now owns 33,296 shares of the specialty chemicals company’s stock valued at $2,431,000 after acquiring an additional 8,682 shares during the last quarter. Deprince Race & Zollo Inc. bought a new position in shares of Innospec in the 1st quarter valued at $4,967,000. Finally, MQS Management LLC acquired a new stake in shares of Innospec during the 1st quarter valued at $267,000. 96.64% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

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

Check Out Our Latest Report on Innospec

Innospec Stock Performance

Shares of NASDAQ IOSP opened at $84.76 on Monday. The firm has a 50 day moving average price of $82.29 and a two-hundred day moving average price of $79.19. The stock has a market cap of $2.09 billion, a P/E ratio of 18.47, a price-to-earnings-growth ratio of 2.34 and a beta of 0.93. Innospec Inc. has a 52-week low of $65.51 and a 52-week high of $92.14.

Innospec (NASDAQ:IOSPGet Free Report) last issued its quarterly earnings results on Friday, May 8th. The specialty chemicals company reported $1.05 EPS for the quarter, topping analysts’ consensus estimates of $1.02 by $0.03. Innospec had a net margin of 6.38% and a return on equity of 9.32%. The company had revenue of $453.20 million for the quarter, compared to analyst estimates of $432.14 million. During the same quarter in the previous year, the business earned $1.42 earnings per share. Innospec’s revenue was up 2.8% compared to the same quarter last year. Analysts predict that Innospec Inc. will post 4.84 earnings per share for the current fiscal year.

Innospec Dividend Announcement

The business also recently announced a dividend, which was paid on Friday, May 29th. Shareholders of record on Tuesday, May 19th were issued a dividend of $0.92 per share. The ex-dividend date of this dividend was Tuesday, May 19th. This represents a yield of 239.0%. Innospec’s payout ratio is presently 40.09%.

Innospec Profile

(Free Report)

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.

Further Reading

Institutional Ownership by Quarter for Innospec (NASDAQ:IOSP)

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