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

Hsbc Holdings PLC grew its position in shares of Innospec Inc. (NASDAQ:IOSP) by 70.7% in the 1st quarter, Holdings Channel reports. The firm owned 25,351 shares of the specialty chemicals company’s stock after acquiring an additional 10,504 shares during the quarter. Hsbc Holdings PLC’s holdings in Innospec were worth $1,855,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the company. Allworth Financial LP boosted its stake in shares of Innospec by 31.0% in the 3rd quarter. Allworth Financial LP now owns 588 shares of the specialty chemicals company’s stock valued at $45,000 after purchasing an additional 139 shares during the last quarter. State of Wyoming raised its stake in Innospec by 27.5% during the second quarter. State of Wyoming now owns 801 shares of the specialty chemicals company’s stock worth $67,000 after buying an additional 173 shares during the last quarter. California State Teachers Retirement System lifted its holdings in Innospec by 0.8% in the second quarter. California State Teachers Retirement System now owns 23,062 shares of the specialty chemicals company’s stock valued at $1,939,000 after buying an additional 179 shares during the period. Franklin Resources Inc. lifted its holdings in Innospec by 0.7% in the third quarter. Franklin Resources Inc. now owns 27,868 shares of the specialty chemicals company’s stock valued at $2,150,000 after buying an additional 196 shares during the period. Finally, Amundi boosted its position in Innospec by 5.0% during the third quarter. Amundi now owns 4,490 shares of the specialty chemicals company’s stock valued at $354,000 after acquiring an additional 214 shares during the last quarter. Institutional investors and hedge funds own 96.64% of the company’s stock.

Innospec Price Performance

NASDAQ:IOSP opened at $84.76 on Monday. Innospec Inc. has a twelve month low of $65.51 and a twelve month high of $92.14. The company has a fifty day moving average of $82.29 and a 200-day moving average of $79.19. The firm has a market capitalization of $2.09 billion, a P/E ratio of 18.47, a P/E/G ratio of 2.34 and a beta of 0.93.

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

Innospec Dividend Announcement

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

Wall Street Analyst Weigh In

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

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.