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

Olin Co. (NYSE:OLN) announced a quarterly dividend on Wednesday, July 24th, Zacks reports. Investors of record on Thursday, August 8th will be paid a dividend of 0.20 per share by the specialty chemicals company on Friday, September 13th. This represents a $0.80 dividend on an annualized basis and a dividend yield of 1.91%. The ex-dividend date of this dividend is Thursday, August 8th.

Olin has a dividend payout ratio of 17.9% indicating that its dividend is sufficiently covered by earnings. Analysts expect Olin to earn $3.54 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 22.6%.

Olin Trading Up 1.2 %

OLN traded up $0.48 during trading on Tuesday, hitting $41.90. 360,398 shares of the stock were exchanged, compared to its average volume of 1,115,962. 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 firm has a 50 day simple moving average of $48.63 and a 200 day simple moving average of $52.48. The firm has a market cap of $5.00 billion, a price-to-earnings ratio of 15.18, a P/E/G ratio of 0.96 and a beta of 1.44. Olin has a 1 year low of $40.41 and a 1 year high of $60.60.

Olin (NYSE:OLN) last announced 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 net margin of 4.26% and a return on equity of 11.73%. The firm had revenue of $1.64 billion for the quarter, compared to analysts’ expectations of $1.71 billion. During the same quarter in the prior year, the business posted $1.13 EPS. The business’s quarterly revenue was down 3.5% on a year-over-year basis. As a group, equities analysts expect that Olin will post 1.61 EPS for the current year.

Wall Street Analyst Weigh In

Several equities research analysts have recently commented on OLN shares. Royal Bank of Canada reduced their price target on shares of Olin from $61.00 to $52.00 and set an “outperform” rating for the company in a report on Monday, July 29th. Wells Fargo & Company reduced their price objective on shares of Olin from $50.00 to $48.00 and set an “equal weight” rating for the company in a research note on Monday, July 29th. JPMorgan Chase & Co. raised Olin from a “neutral” rating to an “overweight” rating and set a $55.00 target price on the stock in a research report on Monday, July 29th. Piper Sandler reduced their price target on Olin from $75.00 to $57.00 and set an “overweight” rating for the company in a research report on Tuesday, July 30th. Finally, The Goldman Sachs Group dropped their price objective on Olin from $55.00 to $49.00 and set a “neutral” rating on the stock in a research report on Monday, July 29th. One analyst has rated the stock with a sell rating, eight have issued a hold rating and six have assigned a buy rating to the company. Based on data from MarketBeat, Olin has an average rating of “Hold” and a consensus price target of $53.86.

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.