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 is Tuesday, November 17th.
Innospec has raised 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 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 Stock Down 0.3%
Shares of NASDAQ:IOSP opened at $99.23 on Wednesday. The company has a market capitalization of $2.44 billion, a price-to-earnings ratio of 20.25, a price-to-earnings-growth ratio of 2.65 and a beta of 0.88. Innospec has a 52 week low of $65.51 and a 52 week high of $102.00. The firm has a 50 day moving average of $96.24 and a 200 day moving average of $84.60.
Innospec (NASDAQ:IOSP – Get Free Report) last announced its 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 company had revenue of $473.60 million for 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 quarterly revenue was up 7.2% compared to the same quarter last year. During the same period in the prior year, the company posted $1.12 EPS. On average, sell-side analysts expect that Innospec will post 5.01 EPS for the current year.
Analyst Upgrades and Downgrades
Several research analysts recently commented on the company. Weiss Ratings raised Innospec from a “hold (c)” rating to a “hold (c+)” rating in a research note on Thursday, October 8th. Wall Street Zen cut shares of Innospec from a “strong-buy” rating to a “buy” rating in a research note on Saturday, September 26th. Finally, Seaport Research Partners reaffirmed a “buy” rating and set a $110.00 target price on shares of Innospec in a research note on Thursday, August 6th. Two analysts have rated the stock with a Hold rating. Based on data from MarketBeat, Innospec currently has a consensus rating of “Hold”.
View Our Latest Report on Innospec
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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