Innospec Inc. (IOSP) to Issue Dividend of $0.87 on November 26th

Innospec Inc. (NASDAQ:IOSP) announced a dividend on Tuesday, November 4th. Shareholders of record on Tuesday, November 18th will be given a dividend of 0.87 per share by the specialty chemicals company on Wednesday, November 26th. This represents a dividend yield of 237.0%. The ex-dividend date is Tuesday, November 18th.

Innospec has increased its dividend payment by an average of 0.1%annually over the last three years and has increased its dividend annually for the last 11 consecutive years. Innospec has a dividend payout ratio of 25.9% indicating that its dividend is sufficiently covered by earnings. Equities research analysts expect Innospec to earn $6.96 per share next year, which means the company should continue to be able to cover its $1.68 annual dividend with an expected future payout ratio of 24.1%.

Innospec Stock Performance

NASDAQ:IOSP opened at $74.01 on Thursday. Innospec has a fifty-two week low of $71.06 and a fifty-two week high of $128.35. The company has a 50 day simple moving average of $78.71 and a two-hundred day simple moving average of $83.45. The company has a market capitalization of $1.84 billion, a PE ratio of 94.88 and a beta of 1.06.

Innospec (NASDAQ:IOSP) last announced its earnings results on Tuesday, November 4th. The specialty chemicals company reported $1.12 earnings per share for the quarter, topping analysts’ consensus estimates of $1.03 by $0.09. Innospec had a net margin of 1.08% and a return on equity of 10.89%. The business had revenue of $441.90 million during the quarter, compared to the consensus estimate of $443.00 million. During the same quarter last year, the firm earned $1.35 earnings per share. Innospec’s quarterly revenue was down .3% on a year-over-year basis. Research analysts predict that Innospec will post 6.18 EPS for the current year.

Hedge Funds Weigh In On Innospec

A number of large investors have recently made changes to their positions in the stock. Nuveen LLC bought a new position in Innospec in the 1st quarter worth about $42,966,000. Financial Harvest LLC bought a new position in Innospec in the 1st quarter valued at $41,107,000. Brown Advisory Inc. purchased a new position in shares of Innospec during the 1st quarter valued at $31,212,000. Victory Capital Management Inc. raised its position in shares of Innospec by 20.0% in the first quarter. Victory Capital Management Inc. now owns 1,106,482 shares of the specialty chemicals company’s stock worth $104,839,000 after buying an additional 184,262 shares in the last quarter. Finally, Millennium Management LLC boosted its stake in Innospec by 8,176.5% during the first quarter. Millennium Management LLC now owns 170,414 shares of the specialty chemicals company’s stock valued at $16,147,000 after buying an additional 168,355 shares during the period. 96.64% of the stock is owned by institutional investors.

Innospec Company Profile

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.