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

Innospec Inc. (NASDAQ:IOSP) announced a Semi-Annual dividend on Tuesday, November 5th, Zacks reports. Investors 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 is Monday, November 18th. This is a boost 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 Stock Down 1.3 %

IOSP traded down $1.57 during midday trading on Thursday, reaching $123.33. 2,115 shares of the company’s stock were exchanged, compared to its average volume of 106,617. The firm has a market capitalization of $3.08 billion, a price-to-earnings ratio of 20.92 and a beta of 1.08. Innospec has a one year low of $100.50 and a one year high of $133.71. The business has a 50-day simple moving average of $111.36 and a two-hundred day simple moving average of $118.83.

Innospec (NASDAQ:IOSP) last announced its quarterly earnings results 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 firm had revenue of $443.40 million during the quarter, compared to analysts’ expectations of $442.13 million. During the same quarter last year, the company earned $1.59 earnings per share. The company’s revenue for the quarter was down 4.5% compared to the same quarter last year. As a group, research analysts anticipate that Innospec will post 5.92 EPS for the current fiscal year.

Insider Buying and Selling at Innospec

In related news, CFO Ian Cleminson sold 6,602 shares of the company’s stock in a transaction on Friday, August 23rd. The shares were sold at an average price of $113.60, for a total value of $749,987.20. Following the completion of the sale, the chief financial officer now owns 16,394 shares in the company, valued at $1,862,358.40. This represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Corporate insiders own 1.35% of the company’s stock.

Wall Street Analysts Forecast Growth

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

About Innospec

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.