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

Olin Co. (NYSE:OLN) declared a quarterly dividend on Thursday, April 25th, Zacks reports. Investors of record on Thursday, May 9th will be paid 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 dividend yield of 1.50%. The ex-dividend date is Wednesday, May 8th.

Olin has a payout ratio of 13.0% meaning its dividend is sufficiently covered by earnings. Analysts expect Olin to earn $6.37 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 12.6%.

Olin Trading Up 1.2 %

Shares of OLN traded up $0.66 on Friday, hitting $53.48. 2,022,077 shares of the stock traded hands, compared to its average volume of 755,565. The company has a quick ratio of 0.73, a current ratio of 1.29 and a debt-to-equity ratio of 1.14. The firm has a market capitalization of $6.40 billion, a P/E ratio of 19.24, a P/E/G ratio of 0.29 and a beta of 1.44. The stock’s 50 day moving average is $55.63 and its two-hundred day moving average is $51.63. Olin has a 1 year low of $41.71 and a 1 year high of $60.60.

Olin (NYSE:OLN) last announced its quarterly earnings data on Friday, April 26th. The specialty chemicals company reported $0.40 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.36 by $0.04. The business had revenue of $1.64 billion for the quarter, compared to the consensus estimate of $1.65 billion. Olin had a net margin of 5.32% and a return on equity of 14.22%. The company’s quarterly revenue was down 11.3% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $1.16 earnings per share. As a group, sell-side analysts predict that Olin will post 3.73 earnings per share for the current year.

Wall Street Analysts Forecast Growth

A number of research firms have weighed in on OLN. KeyCorp increased their price target on shares of Olin from $66.00 to $78.00 and gave the stock an “overweight” rating in a research note on Tuesday, April 9th. Citigroup increased their price target on shares of Olin from $63.00 to $67.00 and gave the stock a “buy” rating in a research note on Wednesday, April 10th. The Goldman Sachs Group increased their price objective on shares of Olin from $55.00 to $61.00 and gave the stock a “neutral” rating in a research report on Tuesday, January 30th. Stifel Nicolaus increased their price objective on shares of Olin from $65.00 to $66.00 and gave the stock a “buy” rating in a research report on Monday, January 29th. Finally, UBS Group increased their price objective on shares of Olin from $56.00 to $58.00 and gave the stock a “neutral” rating in a research report on Friday, January 26th. Two equities research analysts have rated the stock with a sell rating, eight have assigned a hold rating and five have assigned a buy rating to the company. Based on data from MarketBeat.com, Olin has a consensus rating of “Hold” and a consensus target price of $59.33.

Insiders Place Their Bets

In other Olin news, CEO Scott Mcdougald Sutton sold 539,328 shares of the firm’s stock in a transaction on Tuesday, January 30th. The shares were sold at an average price of $53.96, for a total transaction of $29,102,138.88. Following the completion of the transaction, the chief executive officer now directly owns 47,620 shares of the company’s stock, valued at approximately $2,569,575.20. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. In other news, CEO Scott Mcdougald Sutton sold 539,328 shares of the firm’s stock in a transaction dated Tuesday, January 30th. The shares were sold at an average price of $53.96, for a total value of $29,102,138.88. Following the transaction, the chief executive officer now directly owns 47,620 shares in the company, valued at approximately $2,569,575.20. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, CFO Todd A. Slater sold 63,250 shares of the firm’s stock in a transaction dated Tuesday, January 30th. The stock was sold at an average price of $54.15, for a total transaction of $3,424,987.50. Following the completion of the transaction, the chief financial officer now owns 137,517 shares in the company, valued at $7,446,545.55. The disclosure for this sale can be found here. Insiders sold a total of 753,274 shares of company stock valued at $40,434,124 in the last ninety days. Corporate insiders own 1.60% of the company’s stock.

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.