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

Innospec Inc. (NASDAQ:IOSP) announced 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 is Monday, November 18th. This is a boost from Innospec’s previous Semi-Annual dividend of $0.72.

Innospec has raised its dividend by an average of 10.7% per year over the last three years. Innospec has a payout ratio of 25.2% 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 Trading Down 2.3 %

Innospec stock opened at $119.03 on Friday. Innospec has a 12-month low of $103.97 and a 12-month high of $133.71. The firm has a 50-day moving average price of $112.76 and a 200-day moving average price of $118.84. The firm has a market capitalization of $2.97 billion, a PE ratio of 20.77 and a beta of 1.08.

Innospec (NASDAQ:IOSP) last issued its 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 during the quarter, compared to analyst estimates of $442.13 million. Innospec had a net margin of 7.68% and a return on equity of 13.33%. The business’s revenue was down 4.5% on a year-over-year basis. During the same period in the previous year, the firm earned $1.59 earnings per share. As a group, sell-side analysts predict that Innospec will post 5.88 earnings per share for the current fiscal year.

Analysts Set New Price Targets

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

Insider Buying and Selling 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 firm’s stock in a transaction on Wednesday, November 13th. The stock was sold at an average price of $122.92, for a total value of $127,222.20. Following the completion of the transaction, the director now owns 9,028 shares of the company’s stock, valued at $1,109,721.76. This trade represents a 10.29 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 11,035 shares of company stock valued at $1,267,096. 1.52% of the stock is currently owned by insiders.

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.