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

Olin Co. (NYSE:OLN) announced 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 dividend yield of 1.50%. The ex-dividend date of this dividend is Wednesday, May 8th.

Olin has a payout ratio of 13.0% indicating that its dividend is sufficiently covered by earnings. Equities 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 Stock Up 1.2 %

NYSE OLN traded up $0.66 during trading on Friday, hitting $53.48. 2,022,077 shares of the company traded hands, compared to its average volume of 755,565. The company has a market capitalization of $6.40 billion, a P/E ratio of 19.24, a PEG ratio of 0.29 and a beta of 1.44. The business has a fifty day simple moving average of $55.63 and a 200 day simple moving average of $51.63. Olin has a 12 month low of $41.71 and a 12 month high of $60.60. The company has a current ratio of 1.29, a quick ratio of 0.73 and a debt-to-equity ratio of 1.14.

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

Wall Street Analysts Forecast Growth

Several analysts recently issued reports on OLN shares. The Goldman Sachs Group raised their target price on shares of Olin from $55.00 to $61.00 and gave the company a “neutral” rating in a research note on Tuesday, January 30th. KeyCorp raised their price target on Olin from $66.00 to $78.00 and gave the company an “overweight” rating in a research report on Tuesday, April 9th. UBS Group boosted their price objective on Olin from $56.00 to $58.00 and gave the stock a “neutral” rating in a research report on Friday, January 26th. Stifel Nicolaus raised their target price on Olin from $65.00 to $66.00 and gave the company a “buy” rating in a report on Monday, January 29th. Finally, Barclays upped their price target on Olin from $57.00 to $59.00 and gave the stock an “equal weight” rating in a report on Thursday, April 4th. Two analysts have rated the stock with a sell rating, eight have given a hold rating and five have assigned a buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average target price of $59.33.

Insider Activity at Olin

In other Olin news, CEO Scott Mcdougald Sutton sold 48,896 shares of the company’s stock in a transaction on Tuesday, February 27th. The stock was sold at an average price of $52.39, for a total value of $2,561,661.44. Following the sale, the chief executive officer now directly owns 90,327 shares in the company, valued at $4,732,231.53. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. In other Olin news, CEO Scott Mcdougald Sutton sold 48,896 shares of the business’s stock in a transaction dated Tuesday, February 27th. The shares were sold at an average price of $52.39, for a total value of $2,561,661.44. Following the transaction, the chief executive officer now directly owns 90,327 shares in the company, valued at $4,732,231.53. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, VP Valerie A. Peters sold 71,800 shares of the firm’s stock in a transaction that occurred on Wednesday, January 31st. The stock was sold at an average price of $52.52, for a total transaction of $3,770,936.00. Following the sale, the vice president now directly owns 19,469 shares of the company’s stock, valued at approximately $1,022,511.88. The disclosure for this sale can be found here. Insiders have sold a total of 753,274 shares of company stock valued at $40,434,124 over the last quarter. 1.60% of the stock is owned by company insiders.

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.