Innospec Inc. (NASDAQ:IOSP) Increases Dividend to $0.79 Per Share

Innospec Inc. (NASDAQ:IOSP) declared a Semi-Annual dividend on Tuesday, November 5th, Zacks reports. Stockholders of record on Monday, November 18th will be given a dividend of 0.79 per share by the specialty chemicals company on Tuesday, November 26th. The ex-dividend date of this dividend is Monday, November 18th. This is an increase from Innospec’s previous Semi-Annual dividend of $0.72.

Innospec has raised its dividend by an average of 10.7% per year over the last three years. Innospec has a payout ratio of 23.5% indicating that its dividend is sufficiently covered by earnings. Research analysts expect Innospec to earn $6.68 per share next year, which means the company should continue to be able to cover its $1.58 annual dividend with an expected future payout ratio of 23.7%.

Innospec Trading Down 1.3 %

Shares of Innospec stock traded down $1.57 during trading hours on Thursday, reaching $123.33. 2,115 shares of the company’s stock were exchanged, compared to its average volume of 106,617. The company has a 50 day moving average of $111.36 and a two-hundred day moving average of $118.83. Innospec has a fifty-two week low of $100.50 and a fifty-two week high of $133.71. The stock has a market cap of $3.08 billion, a P/E ratio of 20.92 and a beta of 1.08.

Innospec (NASDAQ:IOSP) last posted its quarterly earnings data on Tuesday, November 5th. The specialty chemicals company reported $1.35 EPS for the quarter, hitting analysts’ consensus estimates of $1.35. Innospec had a net margin of 7.90% and a return on equity of 14.15%. The company had revenue of $443.40 million during the quarter, compared to the consensus estimate of $442.13 million. During the same period in the prior year, the business posted $1.59 EPS. The company’s quarterly revenue was down 4.5% on a year-over-year basis. As a group, analysts expect that Innospec will post 5.92 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Separately, StockNews.com downgraded shares of Innospec from a “strong-buy” rating to a “buy” rating in a research note on Thursday, August 8th.

Insiders Place Their Bets

In other Innospec news, CFO Ian Cleminson sold 3,398 shares of the firm’s stock in a transaction that occurred on Monday, August 26th. The shares were sold at an average price of $114.74, for a total transaction of $389,886.52. Following the completion of the sale, the chief financial officer now directly owns 12,996 shares in the company, valued at $1,491,161.04. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Company insiders own 1.35% of the company’s stock.

Innospec Company Profile

Innospec Inc develops, manufactures, blends, markets, and supplies specialty chemicals in the United States, rest of North America, the United Kingdom, rest of Europe, and internationally. The company's Fuel Specialties segment offers a range of specialty chemical products that are used as additives in additives in diesel, jet, marine, fuel oil and other fuels.