Innospec Inc. (NASDAQ:IOSP) declared a Semi-Annual dividend on Tuesday, May 7th, NASDAQ reports. Stockholders of record on Tuesday, May 21st will be paid a dividend of 0.50 per share by the specialty chemicals company on Thursday, May 30th. This represents a dividend yield of 1.18%. The ex-dividend date of this dividend is Monday, May 20th.
Innospec has raised its dividend by an average of 13.4% per year over the last three years and has raised its dividend annually for the last 5 consecutive years. Innospec has a dividend payout ratio of 23.0% meaning its dividend is sufficiently covered by earnings. Research analysts expect Innospec to earn $5.35 per share next year, which means the company should continue to be able to cover its $1.00 annual dividend with an expected future payout ratio of 18.7%.
Shares of NASDAQ IOSP opened at $81.85 on Wednesday. Innospec has a one year low of $53.07 and a one year high of $88.84. The company has a debt-to-equity ratio of 0.25, a quick ratio of 1.45 and a current ratio of 2.28. The firm has a market cap of $2.00 billion, a PE ratio of 16.95 and a beta of 1.31.
Innospec (NASDAQ:IOSP) last issued its quarterly earnings results on Tuesday, May 7th. The specialty chemicals company reported $1.25 EPS for the quarter, beating analysts’ consensus estimates of $1.18 by $0.07. Innospec had a return on equity of 14.92% and a net margin of 6.08%. The firm had revenue of $388.30 million for the quarter. During the same period in the prior year, the company earned $1.02 EPS. The firm’s quarterly revenue was up 7.7% on a year-over-year basis. As a group, research analysts expect that Innospec will post 5 EPS for the current fiscal year.
In other news, CFO Ian Cleminson sold 5,059 shares of the stock in a transaction dated Friday, February 22nd. The stock was sold at an average price of $80.51, for a total transaction of $407,300.09. Following the transaction, the chief financial officer now directly owns 26,707 shares in the company, valued at approximately $2,150,180.57. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Patrick Williams sold 3,362 shares of the stock in a transaction dated Friday, February 22nd. The shares were sold at an average price of $80.51, for a total value of $270,674.62. Following the transaction, the chief executive officer now owns 204,834 shares in the company, valued at $16,491,185.34. The disclosure for this sale can be found here. Insiders have sold a total of 28,984 shares of company stock worth $2,382,501 over the last quarter. Corporate insiders own 1.62% of the company’s stock.
A number of analysts recently issued reports on IOSP shares. BidaskClub cut Innospec from a “sell” rating to a “strong sell” rating in a report on Tuesday, January 15th. Zacks Investment Research upgraded Innospec from a “hold” rating to a “strong-buy” rating and set a $94.00 target price on the stock in a research note on Friday, March 1st. Finally, ValuEngine upgraded Innospec from a “hold” rating to a “buy” rating in a research note on Wednesday, May 8th.
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Innospec Company Profile
Innospec Inc develops, manufactures, blends, markets, and supplies specialty chemicals worldwide. It operates through four segments: Fuel Specialties, Performance Chemicals, Oilfield Services, and Octane Additives. The Fuel Specialties segment offers a range of specialty chemical products used as additives in various fuels.
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