Innospec Inc. (IOSP) to Issue Semi-Annual Dividend of $0.63 on May 26th

Innospec Inc. (NASDAQ:IOSPGet Rating) declared a Semi-Annual dividend on Tuesday, May 3rd, Zacks reports. Shareholders of record on Tuesday, May 17th will be paid a dividend of 0.63 per share by the specialty chemicals company on Thursday, May 26th. This represents a yield of 1.3%. The ex-dividend date of this dividend is Monday, May 16th. This is an increase from Innospec’s previous Semi-Annual dividend of $0.59.

Innospec has raised its dividend by an average of 9.2% per year over the last three years and has increased its dividend annually for the last 2 consecutive years. Innospec has a payout ratio of 19.7% indicating that its dividend is sufficiently covered by earnings. Equities research analysts expect Innospec to earn $6.07 per share next year, which means the company should continue to be able to cover its $1.26 annual dividend with an expected future payout ratio of 20.8%.

NASDAQ:IOSP opened at $101.49 on Friday. The stock has a market cap of $2.52 billion, a price-to-earnings ratio of 23.82 and a beta of 1.19. The company’s 50 day moving average price is $94.64 and its 200-day moving average price is $92.98. Innospec has a 52 week low of $81.00 and a 52 week high of $107.14.

Innospec (NASDAQ:IOSPGet Rating) last issued its earnings results on Tuesday, May 3rd. The specialty chemicals company reported $1.53 EPS for the quarter, beating the consensus estimate of $1.19 by $0.34. Innospec had a return on equity of 12.87% and a net margin of 6.57%. The business had revenue of $472.40 million for the quarter, compared to the consensus estimate of $397.67 million. During the same period last year, the business posted $1.06 EPS. The company’s revenue was up 39.1% compared to the same quarter last year. On average, sell-side analysts forecast that Innospec will post 5.39 EPS for the current year.

In related news, CEO Patrick Williams sold 11,448 shares of Innospec stock in a transaction dated Friday, February 25th. The shares were sold at an average price of $96.77, for a total transaction of $1,107,822.96. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CFO Ian Cleminson sold 2,035 shares of Innospec stock in a transaction dated Friday, February 25th. The stock was sold at an average price of $96.78, for a total transaction of $196,947.30. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 15,713 shares of company stock valued at $1,521,521. Company insiders own 1.52% of the company’s stock.

A number of institutional investors have recently added to or reduced their stakes in the business. Public Employees Retirement System of Ohio raised its holdings in shares of Innospec by 16.8% in the 4th quarter. Public Employees Retirement System of Ohio now owns 26,556 shares of the specialty chemicals company’s stock valued at $2,399,000 after purchasing an additional 3,824 shares in the last quarter. Yousif Capital Management LLC raised its stake in shares of Innospec by 1.0% during the 1st quarter. Yousif Capital Management LLC now owns 22,730 shares of the specialty chemicals company’s stock worth $2,104,000 after acquiring an additional 215 shares in the last quarter. Credit Suisse AG raised its stake in shares of Innospec by 2.7% during the 4th quarter. Credit Suisse AG now owns 22,643 shares of the specialty chemicals company’s stock worth $2,045,000 after acquiring an additional 588 shares in the last quarter. Citigroup Inc. raised its stake in shares of Innospec by 11.9% during the 1st quarter. Citigroup Inc. now owns 21,356 shares of the specialty chemicals company’s stock worth $1,976,000 after acquiring an additional 2,264 shares in the last quarter. Finally, Commonwealth of Pennsylvania Public School Empls Retrmt SYS raised its stake in shares of Innospec by 14.1% during the 1st quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 21,248 shares of the specialty chemicals company’s stock worth $1,967,000 after acquiring an additional 2,620 shares in the last quarter. 95.48% of the stock is owned by institutional investors.

IOSP has been the subject of several research analyst reports. Seaport Res Ptn reiterated a “neutral” rating on shares of Innospec in a report on Wednesday, March 30th. StockNews.com lowered shares of Innospec from a “strong-buy” rating to a “buy” rating in a research note on Monday, May 9th. Finally, Zacks Investment Research downgraded shares of Innospec from a “buy” rating to a “hold” rating in a research report on Thursday, March 10th. Two investment analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Buy” and a consensus price target of $108.00.

About Innospec (Get Rating)

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 various fuels.

Further Reading

Dividend History for Innospec (NASDAQ:IOSP)

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