Innospec Inc. (IOSP) To Go Ex-Dividend on November 18th

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 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 NASDAQ IOSP opened at $119.03 on Friday. Innospec has a 1 year low of $103.97 and a 1 year high of $133.71. The firm has a 50-day simple moving average of $112.76 and a two-hundred day simple moving average of $118.84. The company has a market cap of $2.97 billion, a P/E ratio of 20.77 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 (EPS) for the quarter, hitting analysts’ consensus estimates of $1.35. Innospec had a return on equity of 13.33% and a net margin of 7.68%. The firm had revenue of $443.40 million during the quarter, compared to analyst estimates of $442.13 million. During the same period last year, the company earned $1.59 EPS. Innospec’s quarterly revenue was down 4.5% compared to the same quarter last year. As a group, equities research analysts expect that Innospec will post 5.88 EPS for the current year.

Insider Activity

In related news, CFO Ian Cleminson sold 3,398 shares of the company’s stock in a transaction dated Monday, August 26th. The shares were 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 represents a 20.73 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Milton C. Blackmore sold 1,035 shares of the firm’s stock in a transaction dated Wednesday, November 13th. The shares were sold at an average price of $122.92, for a total transaction of $127,222.20. Following the transaction, the director now directly owns 9,028 shares in the company, 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 quarter, insiders sold 11,035 shares of company stock valued at $1,267,096. Corporate insiders own 1.52% of the company’s stock.

Analysts Set New Price Targets

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

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.