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

Innospec Inc. (NASDAQ:IOSP) declared 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 an increase 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. Equities 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 1.9 %

Innospec stock traded down $2.39 during midday trading on Thursday, reaching $122.51. The stock had a trading volume of 6,225 shares, compared to its average volume of 106,640. Innospec has a 52-week low of $100.50 and a 52-week high of $133.71. The company has a fifty day moving average of $111.36 and a 200 day moving average of $118.83. The firm has a market cap of $3.06 billion, a price-to-earnings 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 earnings per share for the quarter, hitting the consensus estimate of $1.35. Innospec had a return on equity of 14.15% and a net margin of 7.90%. The firm had revenue of $443.40 million for the quarter, compared to the consensus estimate of $442.13 million. During the same period in the prior year, the business posted $1.59 earnings per share. The company’s revenue for the quarter was down 4.5% on a year-over-year basis. Equities research analysts predict that Innospec will post 5.92 EPS for the current year.

Wall Street Analysts Forecast Growth

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

Insider Activity

In related news, CFO Ian Cleminson sold 3,398 shares of the stock in a transaction that occurred 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 transaction, the chief financial officer now owns 12,996 shares of the company’s stock, valued at $1,491,161.04. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 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.