Innospec Inc. (NASDAQ:IOSP) Shareholders to Get $0.94 Dividend

Key Points

• Innospec declared a $0.94-per-share dividend, payable November 25 to shareholders of record November 17; its annual dividend is $1.84.
• The company has raised its dividend for 11 consecutive years, and its payout ratio indicates earnings are expected to cover future payments.
• Quarterly EPS of $1.29 topped estimates of $1.26, while revenue of $473.6 million fell short of forecasts; revenue nevertheless grew 7.2% year over year.

Innospec Inc. (NASDAQ:IOSP - Get Free Report) declared a dividend on Tuesday, November 3rd. Shareholders of record on Tuesday, November 17th will be paid a dividend of $0.94 per share by the specialty chemicals company on Wednesday, November 25th. This represents a yield of 189.0%. The ex-dividend date of this dividend is Tuesday, November 17th.

Innospec has increased its dividend by an average of 0.1% per year over the last three years and has raised its dividend annually for the last 11 consecutive years. Innospec has a dividend payout ratio of 28.4% indicating that its dividend is sufficiently covered by earnings. Equities analysts expect Innospec to earn $6.25 per share next year, which means the company should continue to be able to cover its $1.84 annual dividend with an expected future payout ratio of 29.4%.

Innospec Price Performance

Shares of IOSP stock opened at $99.23 on Wednesday. Innospec has a fifty-two week low of $65.51 and a fifty-two week high of $102.00. The stock's 50-day moving average is $96.24 and its two-hundred day moving average is $84.60. The firm has a market cap of $2.44 billion, a P/E ratio of 20.25, a PEG ratio of 2.65 and a beta of 0.88.

Innospec (NASDAQ:IOSP - Get Free Report) last announced its quarterly earnings results on Tuesday, November 3rd. The specialty chemicals company reported $1.29 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.26 by $0.03. The business had revenue of $473.60 million during the quarter, compared to analyst estimates of $479.17 million. Innospec had a return on equity of 9.22% and a net margin of 6.60%. The firm's revenue was up 7.2% on a year-over-year basis. During the same period in the previous year, the company earned $1.12 EPS. As a group, research analysts expect that Innospec will post 5.01 EPS for the current year.

Hedge Funds Weigh In On Innospec

Several large investors have recently made changes to their positions in IOSP. Root Financial Partners LLC bought a new stake in shares of Innospec in the 3rd quarter worth approximately $30,000. Meeder Asset Management Inc. acquired a new stake in shares of Innospec in the 2nd quarter valued at $36,000. State of Wyoming acquired a new position in Innospec in the third quarter valued at about $46,000. Farther Finance Advisors LLC grew its position in Innospec by 94.0% during the 3rd quarter. Farther Finance Advisors LLC now owns 675 shares of the specialty chemicals company's stock worth $64,000 after acquiring an additional 327 shares during the last quarter. Finally, Rockefeller Capital Management L.P. grew its holdings in shares of Innospec by 125.4% during the fourth quarter. Rockefeller Capital Management L.P. now owns 728 shares of the specialty chemicals company's stock worth $56,000 after purchasing an additional 405 shares during the last quarter. Institutional investors and hedge funds own 96.64% of the company's stock.

About Innospec

Innospec Inc NASDAQ: IOSP is a global specialty chemicals company that develops, manufactures and markets products used in the fuel, oilfield, personal care and industrial markets. The company serves customers through a portfolio of chemical additives, formulations and technical services designed to improve product performance, efficiency and reliability.

Innospec operates through businesses focused on fuel specialties, performance chemicals and oilfield services. Its fuel-related products include fuel additives for gasoline, diesel, marine and other applications, including detergents, lubricity improvers, cetane improvers and other performance-enhancing formulations.

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