Innospec Inc. (IOSP) To Go Ex-Dividend on May 19th

Innospec Inc. (NASDAQ:IOSP) announced a dividend on Friday, May 1st. Stockholders of record on Tuesday, May 19th will be given a dividend of 0.92 per share by the specialty chemicals company on Friday, May 29th. This represents a dividend yield of 240.0%. The ex-dividend date of this dividend is Tuesday, May 19th.

Innospec has raised its dividend payment by an average of 0.1%per year over the last three years and has raised its dividend every year for the last 11 years. Innospec has a payout ratio of 28.4% indicating that its dividend is sufficiently covered by earnings. Equities research analysts expect Innospec to earn $6.11 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 30.1%.

Innospec Trading Down 2.3%

IOSP opened at $78.15 on Friday. The business’s 50 day moving average is $73.99 and its 200-day moving average is $76.77. The stock has a market cap of $1.92 billion, a PE ratio of 17.03, a price-to-earnings-growth ratio of 2.17 and a beta of 0.90. Innospec has a twelve month low of $65.51 and a twelve month high of $92.14.

Innospec (NASDAQ:IOSP) last released its quarterly earnings results on Friday, May 8th. The specialty chemicals company reported $1.05 earnings per share for the quarter, beating analysts’ consensus estimates of $1.02 by $0.03. The company had revenue of $453.20 million for the quarter, compared to analysts’ expectations of $432.14 million. Innospec had a return on equity of 9.32% and a net margin of 6.38%.The business’s revenue for the quarter was up 2.8% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.42 earnings per share. As a group, analysts forecast that Innospec will post 4.8 EPS for the current year.

Insider Activity

In other Innospec news, Director Larry Padfield sold 1,030 shares of Innospec stock in a transaction that occurred on Friday, February 20th. The shares were sold at an average price of $81.84, for a total transaction of $84,295.20. Following the transaction, the director directly owned 8,508 shares in the company, valued at approximately $696,294.72. The trade was a 10.80% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director David Landless sold 594 shares of Innospec stock in a transaction that occurred on Friday, February 27th. The stock was sold at an average price of $76.56, for a total transaction of $45,476.64. Following the transaction, the director owned 7,632 shares in the company, valued at approximately $584,305.92. The trade was a 7.22% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last quarter, insiders have sold 4,989 shares of company stock valued at $391,889. 1.45% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Innospec

Several institutional investors and hedge funds have recently added to or reduced their stakes in IOSP. Assenagon Asset Management S.A. grew its position in Innospec by 175.5% during the 1st quarter. Assenagon Asset Management S.A. now owns 490,884 shares of the specialty chemicals company’s stock worth $35,844,000 after purchasing an additional 312,680 shares in the last quarter. Western Standard LLC grew its position in Innospec by 894.0% during the 4th quarter. Western Standard LLC now owns 268,367 shares of the specialty chemicals company’s stock worth $20,541,000 after purchasing an additional 241,367 shares in the last quarter. Medina Value Partners LLC purchased a new position in Innospec during the 3rd quarter worth approximately $18,206,000. Goldman Sachs Group Inc. grew its position in Innospec by 71.6% during the 4th quarter. Goldman Sachs Group Inc. now owns 484,968 shares of the specialty chemicals company’s stock worth $37,119,000 after purchasing an additional 202,325 shares in the last quarter. Finally, Millennium Management LLC grew its position in Innospec by 8,176.5% during the 1st quarter. Millennium Management LLC now owns 170,414 shares of the specialty chemicals company’s stock worth $16,147,000 after purchasing an additional 168,355 shares in the last quarter. 96.64% of the stock is currently owned by hedge funds and other institutional investors.

About Innospec

Innospec Incorporated (NASDAQ: IOSP) is a global specialty chemicals company headquartered in Cleveland, Ohio. The company operates through three principal business segments: Fuel Specialties, Oilfield Services, and Performance Chemicals. In the Fuel Specialties segment, Innospec develops and supplies additives designed to enhance octane levels, improve combustion efficiency, reduce emissions and prevent deposit formation in gasoline and diesel engines. Its Oilfield Services division provides chemical technologies—such as surfactants, corrosion inhibitors and demulsifiers—to support exploration, drilling, production optimization and enhanced oil recovery operations.