Innospec Inc. (NASDAQ:IOSP – Get Rating) announced a Semi-Annual dividend on Tuesday, May 3rd, Zacks reports. Stockholders of record on Tuesday, May 17th will be given a dividend of 0.63 per share by the specialty chemicals company on Thursday, May 26th. The ex-dividend date of this dividend is Monday, May 16th. This is a boost from Innospec’s previous Semi-Annual dividend of $0.59.
Innospec has raised its dividend payment by an average of 9.2% per year over the last three years and has increased its dividend annually for the last 1 consecutive years. Innospec has a dividend payout ratio of 19.6% indicating that its dividend is sufficiently covered by earnings. Analysts expect Innospec to earn $5.87 per share next year, which means the company should continue to be able to cover its $1.18 annual dividend with an expected future payout ratio of 20.1%.
NASDAQ IOSP opened at $99.96 on Thursday. Innospec has a 12 month low of $81.00 and a 12 month high of $107.14. The stock has a market cap of $2.50 billion, a P/E ratio of 23.46 and a beta of 1.19. The stock’s fifty day moving average price is $94.08 and its 200-day moving average price is $92.45.
In other news, VP Philip John Boon sold 1,508 shares of the firm’s stock in a transaction dated Friday, February 25th. The stock was sold at an average price of $96.77, for a total value of $145,929.16. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, VP Ian Malcolm Mcrobbie sold 374 shares of the firm’s stock in a transaction dated Tuesday, February 22nd. The stock was sold at an average price of $99.31, for a total value of $37,141.94. The disclosure for this sale can be found here. In the last three months, insiders sold 15,713 shares of company stock worth $1,521,521. 1.52% of the stock is owned by corporate insiders.
Hedge funds and other institutional investors have recently bought and sold shares of the company. State Street Corp raised its stake in shares of Innospec by 6.3% in the fourth quarter. State Street Corp now owns 859,151 shares of the specialty chemicals company’s stock worth $77,616,000 after buying an additional 50,729 shares during the period. Goldman Sachs Group Inc. raised its stake in shares of Innospec by 25.9% in the fourth quarter. Goldman Sachs Group Inc. now owns 241,504 shares of the specialty chemicals company’s stock worth $21,817,000 after buying an additional 49,638 shares during the period. Morgan Stanley raised its stake in shares of Innospec by 92.8% in the second quarter. Morgan Stanley now owns 119,379 shares of the specialty chemicals company’s stock worth $10,818,000 after buying an additional 57,445 shares during the period. Parametric Portfolio Associates LLC raised its stake in shares of Innospec by 3.6% in the fourth quarter. Parametric Portfolio Associates LLC now owns 84,793 shares of the specialty chemicals company’s stock worth $7,660,000 after buying an additional 2,934 shares during the period. Finally, Legal & General Group Plc raised its stake in shares of Innospec by 2.9% in the fourth quarter. Legal & General Group Plc now owns 70,145 shares of the specialty chemicals company’s stock worth $6,337,000 after buying an additional 1,989 shares during the period. 95.48% of the stock is currently owned by hedge funds and other institutional investors.
IOSP has been the topic of several recent analyst reports. Zacks Investment Research cut Innospec from a “buy” rating to a “hold” rating in a research report on Thursday, March 10th. Seaport Res Ptn reaffirmed a “neutral” rating on shares of Innospec in a research report on Wednesday, March 30th. Finally, StockNews.com raised Innospec from a “buy” rating to a “strong-buy” rating in a research report on Monday, April 25th. Two equities research analysts have rated the stock with a hold rating, one has given a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Buy” and an average price target of $108.00.
Innospec Company Profile (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.
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