Innospec Inc. (NASDAQ:IOSP) Raises Dividend to $0.79 Per Share

Innospec Inc. (NASDAQ:IOSP) declared a Semi-Annual dividend on Monday, November 4th,Zacks Dividends 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. This represents a dividend yield of 1.3%. The ex-dividend date of this dividend 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% annually over the last three years. Innospec has a payout ratio of 25.2% indicating that its dividend is sufficiently covered by earnings. Equities 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 Stock Down 2.3 %

NASDAQ:IOSP opened at $119.03 on Friday. Innospec has a 52 week low of $103.97 and a 52 week high of $133.71. The stock’s 50-day moving average price is $112.76 and its 200-day moving average price is $118.84. The stock has a market capitalization of $2.97 billion, a PE ratio of 20.77 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 earnings per share (EPS) 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 7.68% and a return on equity of 13.33%. The firm’s revenue for the quarter was down 4.5% compared to the same quarter last year. During the same quarter last year, the company earned $1.59 EPS. Sell-side analysts expect that Innospec will post 5.88 earnings per share for the current fiscal year.

Insider Transactions at Innospec

In other Innospec news, Director Milton C. Blackmore sold 1,035 shares of the business’s stock in a transaction 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 transaction, the director now owns 9,028 shares of the company’s stock, valued at approximately $1,109,721.76. The trade was a 10.29 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CFO Ian Cleminson sold 3,398 shares of the firm’s stock in a transaction on Monday, August 26th. The stock was 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 directly owns 12,996 shares of the company’s stock, valued at $1,491,161.04. This trade represents a 20.73 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 11,035 shares of company stock valued at $1,267,096 over the last ninety days. Insiders own 1.52% of the company’s stock.

Analyst Upgrades and Downgrades

Separately, StockNews.com cut 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.