Innospec Inc. (NASDAQ:IOSP) to Issue Semi-Annual Dividend of $0.79

Innospec Inc. (NASDAQ:IOSP) declared a Semi-Annual dividend on Tuesday, November 5th, Zacks reports. Shareholders of record on Monday, November 18th will be paid a dividend of 0.79 per share by the specialty chemicals company on Tuesday, November 26th. The ex-dividend date is Monday, November 18th. This is a positive change 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 dividend payout ratio of 23.5% meaning its dividend is sufficiently covered by earnings. Equities 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 Price Performance

IOSP stock traded down $4.19 during midday trading on Thursday, reaching $120.71. 26,536 shares of the company’s stock traded hands, compared to its average volume of 106,667. The company has a market capitalization of $3.01 billion, a P/E ratio of 20.92 and a beta of 1.08. Innospec has a fifty-two week low of $100.50 and a fifty-two week high of $133.71. The business has a 50-day moving average price of $111.36 and a two-hundred day moving average price of $118.83.

Innospec (NASDAQ:IOSP) last announced its quarterly earnings results on Tuesday, November 5th. The specialty chemicals company reported $1.35 earnings per share for the quarter, meeting analysts’ consensus estimates of $1.35. The firm had revenue of $443.40 million for the quarter, compared to analysts’ expectations of $442.13 million. Innospec had a net margin of 7.90% and a return on equity of 14.15%. Innospec’s revenue was down 4.5% compared to the same quarter last year. During the same period in the previous year, the company posted $1.59 earnings per share. As a group, research analysts forecast that Innospec will post 5.92 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, CFO Ian Cleminson sold 3,398 shares of Innospec stock in a transaction on Monday, August 26th. The shares were sold at an average price of $114.74, for a total value of $389,886.52. Following the completion of the sale, the chief financial officer now owns 12,996 shares in the company, valued at approximately $1,491,161.04. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Insiders own 1.35% of the company’s stock.

Wall Street Analyst Weigh In

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

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.