Olin Co. (OLN) to Issue Quarterly Dividend of $0.20 on December 13th

Olin Co. (NYSE:OLN) declared a quarterly dividend on Thursday, October 24th, Zacks reports. Shareholders of record on Thursday, November 14th will be given a dividend of 0.20 per share by the specialty chemicals company on Friday, December 13th. This represents a $0.80 dividend on an annualized basis and a yield of 1.93%. The ex-dividend date is Thursday, November 14th.

Olin has a payout ratio of 22.2% meaning its dividend is sufficiently covered by earnings. Analysts expect Olin to earn $3.43 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 23.3%.

Olin Stock Performance

Shares of NYSE:OLN traded down $3.61 during midday trading on Friday, hitting $41.43. The company’s stock had a trading volume of 4,433,972 shares, compared to its average volume of 1,159,959. Olin has a fifty-two week low of $39.47 and a fifty-two week high of $60.60. The company has a debt-to-equity ratio of 1.29, a quick ratio of 0.82 and a current ratio of 1.43. The stock has a market capitalization of $4.95 billion, a price-to-earnings ratio of 14.90, a PEG ratio of 1.12 and a beta of 1.41. The stock’s 50 day simple moving average is $44.78 and its 200 day simple moving average is $48.21.

Olin (NYSE:OLN) last issued its quarterly earnings results on Thursday, July 25th. The specialty chemicals company reported $0.62 EPS for the quarter, missing the consensus estimate of $0.70 by ($0.08). Olin had a return on equity of 11.73% and a net margin of 4.26%. The business had revenue of $1.64 billion during the quarter, compared to the consensus estimate of $1.71 billion. During the same period in the prior year, the firm earned $1.13 earnings per share. The business’s quarterly revenue was down 3.5% on a year-over-year basis. As a group, research analysts anticipate that Olin will post 1.58 earnings per share for the current year.

Analyst Ratings Changes

Several research firms recently commented on OLN. KeyCorp cut their target price on shares of Olin from $62.00 to $57.00 and set an “overweight” rating for the company in a research note on Monday, October 7th. The Goldman Sachs Group reduced their target price on shares of Olin from $55.00 to $49.00 and set a “neutral” rating for the company in a research note on Monday, July 29th. UBS Group decreased their target price on Olin from $59.00 to $51.00 and set a “neutral” rating on the stock in a research report on Tuesday, July 9th. Barclays cut their price target on Olin from $59.00 to $49.00 and set an “equal weight” rating for the company in a report on Monday, July 29th. Finally, Deutsche Bank Aktiengesellschaft decreased their price objective on Olin from $57.00 to $48.00 and set a “hold” rating on the stock in a report on Monday, July 29th. One equities research analyst has rated the stock with a sell rating, eight have assigned a hold rating and six have given a buy rating to the company’s stock. Based on data from MarketBeat.com, Olin has a consensus rating of “Hold” and an average price target of $52.40.

About Olin

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.