Innospec Inc. (NASDAQ:IOSP) to Issue Dividend Increase – $0.79 Per Share

Innospec Inc. (NASDAQ:IOSP) declared a Semi-Annual dividend on Monday, November 4th,Zacks Dividends 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. This represents a dividend yield of 1.3%. 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% annually over the last three years. Innospec has a payout ratio of 23.5% indicating that its dividend is sufficiently covered by earnings. Equities research analysts expect Innospec to earn $6.24 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 25.3%.

Innospec Price Performance

Shares of IOSP stock opened at $119.03 on Friday. The company has a market cap of $2.97 billion, a P/E ratio of 20.77 and a beta of 1.08. The stock’s 50-day moving average is $112.76 and its 200 day moving average is $118.84. Innospec has a 1-year low of $103.97 and a 1-year high of $133.71.

Innospec (NASDAQ:IOSP) last released 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 business had revenue of $443.40 million for the quarter, compared to analysts’ expectations of $442.13 million. Innospec had a net margin of 7.68% and a return on equity of 13.33%. The company’s revenue was down 4.5% compared to the same quarter last year. During the same period last year, the business earned $1.59 EPS. On average, analysts anticipate that Innospec will post 5.88 EPS for the current year.

Analyst Upgrades and Downgrades

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

Insider Activity at Innospec

In other news, CFO Ian Cleminson sold 6,602 shares of the business’s stock in a transaction on Friday, August 23rd. The shares were sold at an average price of $113.60, for a total transaction of $749,987.20. Following the sale, the chief financial officer now directly owns 16,394 shares of the company’s stock, valued at $1,862,358.40. The trade was a 28.71 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Milton C. Blackmore sold 1,035 shares of the stock in a transaction that occurred on Wednesday, November 13th. The stock was sold at an average price of $122.92, for a total transaction of $127,222.20. Following the completion of the transaction, the director now owns 9,028 shares in the company, valued at approximately $1,109,721.76. This trade represents a 10.29 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 11,035 shares of company stock valued at $1,267,096 in the last ninety days. Corporate insiders own 1.52% 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.