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

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Olin Co. (NYSE:OLN) announced a quarterly dividend on Wednesday, October 23rd, Zacks reports. Investors of record on Tuesday, November 12th will be given a dividend of 0.20 per share by the specialty chemicals company on Tuesday, December 10th. This represents a $0.80 annualized dividend and a dividend yield of 4.30%. The ex-dividend date is Friday, November 8th.

Shares of OLN traded down $0.68 during mid-day trading on Wednesday, hitting $18.60. The company had a trading volume of 81,626 shares, compared to its average volume of 2,343,567. The business’s 50-day simple moving average is $18.50 and its 200-day simple moving average is $19.84. The company has a quick ratio of 0.99, a current ratio of 1.64 and a debt-to-equity ratio of 1.25. Olin has a 1-year low of $15.38 and a 1-year high of $27.32. The stock has a market cap of $3.16 billion, a PE ratio of 10.65, a P/E/G ratio of 1.76 and a beta of 1.59.

Several equities research analysts recently issued reports on OLN shares. SunTrust Banks cut shares of Olin from a “buy” rating to a “hold” rating and set a $19.00 target price on the stock. in a research report on Monday. Citigroup lowered shares of Olin from a “buy” rating to a “neutral” rating and cut their price target for the company from $24.00 to $19.00 in a report on Wednesday, October 9th. Barclays cut their price target on shares of Olin from $22.00 to $21.00 and set an “equal weight” rating on the stock in a report on Thursday, October 3rd. Morgan Stanley lowered shares of Olin from an “overweight” rating to an “equal weight” rating and cut their price target for the company from $33.00 to $23.00 in a report on Friday, July 19th. Finally, JPMorgan Chase & Co. lowered shares of Olin from an “overweight” rating to a “neutral” rating and cut their price target for the company from $19.00 to $18.00 in a report on Thursday, October 17th. One research analyst has rated the stock with a sell rating, nine have given a hold rating and six have assigned a buy rating to the company. The stock has a consensus rating of “Hold” and a consensus target price of $23.77.

In related news, Director Scott Mcdougald Sutton purchased 15,000 shares of the company’s stock in a transaction on Friday, August 23rd. The shares were bought at an average cost of $15.66 per share, for a total transaction of $234,900.00. Following the transaction, the director now owns 39,500 shares of the company’s stock, valued at $618,570. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Vince J. Smith purchased 5,000 shares of the company’s stock in a transaction on Monday, August 12th. The shares were bought at an average price of $17.00 per share, for a total transaction of $85,000.00. Following the completion of the transaction, the director now directly owns 37,304 shares in the company, valued at approximately $634,168. The disclosure for this purchase can be found here. Insiders have bought 22,830 shares of company stock worth $368,230 in the last quarter. Insiders own 1.90% of the company’s stock.

About Olin

Olin Corporation manufactures and distributes chemical products in the United States and internationally. 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, trichloroethylene and vinylidene chloride, hydrochloric acid, hydrogen, bleach products, potassium hydroxide, chlorinated organics intermediates and solvents, and sodium hypochlorite.The Epoxy segment provides allyl chloride and epichlorohydrin, as well as acetone, bisphenol, cumene, and phenol for use in resins and other plastic materials, water purification, and pesticides, as well as for the manufacturers of polymers; liquid and solid epoxy resins that are used in adhesives, paints and coatings, composites, and flooring; and differentiated epoxy resins for use in electrical laminates, paints and coatings, wind blades, electronics, and construction, as well as offers additives.

See Also: Trade Deficit

Dividend History for Olin (NYSE:OLN)

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