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. 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 of this dividend is Monday, November 18th. This is a boost from Innospec’s previous Semi-Annual dividend of $0.72.

Innospec has increased 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. 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 1.9 %

Shares of NASDAQ IOSP traded down $2.39 during trading hours on Thursday, hitting $122.51. 6,225 shares of the stock were exchanged, compared to its average volume of 106,640. Innospec has a 12 month low of $100.50 and a 12 month high of $133.71. The firm has a fifty day moving average price of $111.36 and a 200-day moving average price of $118.83. The company has a market cap of $3.06 billion, a PE ratio of 20.92 and a beta of 1.08.

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

Analyst Upgrades and Downgrades

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

Insider Transactions 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 stock was sold at an average price of $113.60, for a total value of $749,987.20. Following the transaction, the chief financial officer now directly owns 16,394 shares of the company’s stock, valued at $1,862,358.40. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Insiders own 1.35% of the company’s stock.

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.