Innospec Inc. (IOSP) to Issue Semi-Annual Dividend of $0.79 on November 26th

Innospec Inc. (NASDAQ:IOSP) declared a Semi-Annual dividend on Tuesday, November 5th, Zacks reports. Shareholders 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 an increase from Innospec’s previous Semi-Annual dividend of $0.72.

Innospec has increased its dividend payment 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. 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 Performance

NASDAQ:IOSP traded down $4.19 during mid-day trading on Thursday, hitting $120.71. 26,536 shares of the company’s stock traded hands, compared to its average volume of 106,667. The firm’s 50 day simple moving average is $111.36 and its 200 day simple moving average is $118.83. Innospec has a 1 year low of $100.50 and a 1 year high of $133.71. The company has a market cap of $3.01 billion, a PE ratio of 20.92 and a beta of 1.08.

Innospec (NASDAQ:IOSP) last issued 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. The business had revenue of $443.40 million during the quarter, compared to the consensus estimate of $442.13 million. Innospec had a net margin of 7.90% and a return on equity of 14.15%. The company’s quarterly revenue was down 4.5% compared to the same quarter last year. During the same period in the previous year, the firm posted $1.59 earnings per share. On average, research analysts expect that Innospec will post 5.92 earnings per share for the current fiscal year.

Insider Transactions at Innospec

In related 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 value of $389,886.52. Following the sale, the chief financial officer now directly owns 12,996 shares of the company’s stock, valued at approximately $1,491,161.04. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 1.35% of the company’s stock.

Analyst Ratings Changes

Separately, StockNews.com downgraded shares of Innospec from a “strong-buy” rating to a “buy” rating in a 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.