Olin Co. (NYSE:OLN) Declares Quarterly Dividend of $0.20

Olin Co. (NYSE:OLN) declared a quarterly dividend on Thursday, April 25th, Zacks reports. Investors of record on Thursday, May 9th will be given a dividend of 0.20 per share by the specialty chemicals company on Friday, June 14th. This represents a $0.80 annualized dividend and a yield of 1.46%. The ex-dividend date is Wednesday, May 8th.

Olin has a payout ratio of 13.0% meaning its dividend is sufficiently covered by earnings. Equities research analysts expect Olin to earn $6.25 per share next year, which means the company should continue to be able to cover its $0.80 annual dividend with an expected future payout ratio of 12.8%.

Olin Stock Performance

Shares of NYSE:OLN opened at $54.68 on Tuesday. The company has a current ratio of 1.38, a quick ratio of 0.80 and a debt-to-equity ratio of 1.22. Olin has a 1-year low of $41.71 and a 1-year high of $60.60. The stock has a market capitalization of $6.53 billion, a P/E ratio of 19.67, a P/E/G ratio of 0.31 and a beta of 1.48. The business has a 50-day moving average price of $55.76 and a two-hundred day moving average price of $51.89.

Olin (NYSE:OLN) last posted its quarterly earnings results on Friday, April 26th. The specialty chemicals company reported $0.40 earnings per share for the quarter, topping analysts’ consensus estimates of $0.38 by $0.02. Olin had a net margin of 5.32% and a return on equity of 14.47%. The business had revenue of $1.64 billion during the quarter, compared to the consensus estimate of $1.65 billion. During the same period in the previous year, the firm posted $1.16 earnings per share. Olin’s revenue for the quarter was down 11.3% compared to the same quarter last year. Equities analysts predict that Olin will post 3.68 earnings per share for the current year.

Insider Transactions at Olin

In related news, VP Brett A. Flaugher sold 15,000 shares of Olin stock in a transaction that occurred on Monday, February 26th. The stock was sold at an average price of $52.46, for a total value of $786,900.00. Following the sale, the vice president now owns 8,782 shares of the company’s stock, valued at approximately $460,703.72. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. In related news, VP Brett A. Flaugher sold 15,000 shares of the stock in a transaction on Monday, February 26th. The shares were sold at an average price of $52.46, for a total transaction of $786,900.00. Following the completion of the transaction, the vice president now owns 8,782 shares in the company, valued at $460,703.72. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Scott Mcdougald Sutton sold 48,896 shares of Olin stock in a transaction on Tuesday, February 27th. The shares were sold at an average price of $52.39, for a total transaction of $2,561,661.44. Following the completion of the sale, the chief executive officer now owns 90,327 shares in the company, valued at $4,732,231.53. The disclosure for this sale can be found here. Insiders sold 78,896 shares of company stock valued at $4,136,061 over the last three months. Company insiders own 1.80% of the company’s stock.

Analyst Ratings Changes

Several research analysts have recently issued reports on the company. Citigroup raised their price target on Olin from $63.00 to $67.00 and gave the stock a “buy” rating in a research report on Wednesday, April 10th. Stifel Nicolaus boosted their target price on Olin from $68.00 to $69.00 and gave the stock a “buy” rating in a research report on Monday, April 29th. Barclays increased their price target on shares of Olin from $57.00 to $59.00 and gave the company an “equal weight” rating in a research report on Thursday, April 4th. KeyCorp lowered their target price on shares of Olin from $78.00 to $73.00 and set an “overweight” rating for the company in a research note on Monday, April 29th. Finally, Wells Fargo & Company boosted their price target on shares of Olin from $56.00 to $60.00 and gave the company an “equal weight” rating in a report on Wednesday, April 3rd. Two equities research analysts have rated the stock with a sell rating, eight have given a hold rating and six have assigned a buy rating to the company. Based on data from MarketBeat.com, Olin has a consensus rating of “Hold” and a consensus price target of $60.00.

Olin Company Profile

Olin Corporation manufactures and distributes chemical products in the United States, Europe, Asia Pacific, Latin America, and Canada. It operates through three segments: Chlor Alkali Products and Vinyls; Epoxy; and Winchester. The Chlor Alkali Products and Vinyls segment offers chlorine and caustic soda, ethylene dichloride and vinyl chloride monomers, methyl chloride, methylene chloride, chloroform, carbon tetrachloride, perchloroethylene, hydrochloric acid, hydrogen, bleach products, potassium hydroxide, and chlorinated organics intermediates and solvents.