Olin Corporation (NYSE:OLN) Shares to Pay Quarterly Dividend of $0.20

Olin Corporation (NYSE:OLN) announced a quarterly dividend on Wednesday, November 11th. Shareholders of record on Friday, November 27th will be given a dividend of $0.20 per share by the specialty chemicals company on Friday, December 11th. This represents a $0.80 dividend on an annualized basis and a yield of 4.5%. The ex-dividend date is Friday, November 27th.

Olin has a payout ratio of 41.5% indicating that its dividend is sufficiently covered by earnings. Analysts expect Olin to earn $0.14 per share next year, which means the company may not be able to cover its $0.80 annual dividend with an expected future payout ratio of 571.4%.

Olin Trading Up 2.2%

Shares of NYSE OLN opened at $17.89 on Thursday. The company has a debt-to-equity ratio of 1.75, a current ratio of 1.45 and a quick ratio of 0.88. The stock has a market capitalization of $2.04 billion, a P/E ratio of -12.17 and a beta of 1.14. Olin has a 1-year low of $14.64 and a 1-year high of $30.46. The business has a fifty day moving average price of $16.48 and a 200 day moving average price of $22.04.

Olin (NYSE:OLN) last posted its earnings results on Thursday, October 29th. The specialty chemicals company reported $0.13 EPS for the quarter, missing analysts’ consensus estimates of $0.15 by ($0.02). The firm had revenue of $1.75 billion for the quarter, compared to analysts’ expectations of $1.83 billion. Olin had a negative net margin of 2.49% and a negative return on equity of 6.63%. The company’s revenue was up 2.0% on a year-over-year basis. During the same period in the previous year, the company earned $0.37 EPS. Equities research analysts expect that Olin will post -0.83 EPS for the current fiscal year.

Analysts Set New Price Targets

OLN has been the topic of several analyst reports. Citigroup increased their price target on Olin from $17.00 to $19.00 and gave the stock a “neutral” rating in a research report on Monday, November 2nd. Wall Street Zen raised Olin from a “sell” rating to a “hold” rating in a report on Sunday. The Goldman Sachs Group set a $18.00 price objective on Olin in a report on Wednesday, September 30th. Truist Financial upped their target price on Olin from $15.00 to $17.00 and gave the stock a “hold” rating in a research note on Monday, November 2nd. Finally, Weiss Ratings reaffirmed a “sell (d)” rating on shares of Olin in a report on Wednesday, August 19th. One research analyst has rated the stock with a Buy rating, twelve have issued a Hold rating and three have issued a Sell rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Reduce” and an average price target of $20.64.

Olin Company Profile

Olin Corporation is a chemicals and ammunition manufacturer headquartered in Clayton, Missouri. Its businesses include chlor-alkali products and vinyls, epoxy materials, and Winchester-branded ammunition. Olin’s chemical operations produce chlorine, caustic soda, vinyl chloride and related products, as well as epoxy resins and intermediates. These materials serve customers in industries such as construction, water treatment, manufacturing and transportation. The company traces its origins to 1892, when Franklin W. Olin founded the Equitable Powder Company.