Innophos Holdings, Inc. (NASDAQ:IPHS) announced a quarterly dividend on Wednesday, May 1st, Wall Street Journal reports. Investors of record on Friday, May 17th will be given a dividend of 0.48 per share by the specialty chemicals company on Friday, June 7th. This represents a $1.92 annualized dividend and a yield of 6.33%. The ex-dividend date of this dividend is Thursday, May 16th.
Innophos has a payout ratio of 68.8% meaning its dividend is sufficiently covered by earnings. Equities analysts expect Innophos to earn $2.58 per share next year, which means the company should continue to be able to cover its $1.92 annual dividend with an expected future payout ratio of 74.4%.
Innophos stock opened at $30.32 on Wednesday. Innophos has a 12-month low of $22.57 and a 12-month high of $50.40. The stock has a market cap of $596.98 million, a P/E ratio of 13.30 and a beta of 1.33. The company has a quick ratio of 1.49, a current ratio of 3.14 and a debt-to-equity ratio of 0.95.
IPHS has been the subject of a number of recent analyst reports. BidaskClub upgraded shares of Innophos from a “sell” rating to a “hold” rating in a research report on Friday, March 29th. Seaport Global Securities initiated coverage on shares of Innophos in a research report on Thursday, February 21st. They set a “buy” rating for the company. ValuEngine upgraded shares of Innophos from a “strong sell” rating to a “sell” rating in a research report on Monday, February 4th. TheStreet upgraded shares of Innophos from a “c” rating to a “b-” rating in a research report on Thursday, February 21st. Finally, Zacks Investment Research cut shares of Innophos from a “hold” rating to a “sell” rating in a research report on Saturday, March 2nd. One equities research analyst has rated the stock with a sell rating, two have given a hold rating and one has given a buy rating to the company’s stock. The stock presently has an average rating of “Hold”.
Innophos Holdings, Inc, together with its subsidiaries, produces specialty ingredients with applications in food, health, nutrition, and industrial markets. It operates through three segments: Food, Health and Nutrition; Industrial Specialties; and Other. The company's specialty ingredients include specialty phosphate salts and specialty phosphoric acids, as well as other mineral, enzyme, and botanical based specialty ingredients that are used as flavor enhancers in beverages; electrolytes in sports drinks; texture modifiers in cheeses; leavening agents in baked goods; calcium and phosphorus fortification in food and beverages; moisture and color retention in seafood, poultry, and meat; excipients in vitamins, minerals, nutritional supplements, and pharmaceuticals; and abrasives in toothpaste.
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