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

Olin Co. (NYSE:OLN) announced a quarterly dividend on Wednesday, July 24th, Zacks reports. Stockholders of record on Thursday, August 8th will be given 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 1.93%. 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. Equities research 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 Price Performance

NYSE:OLN opened at $41.55 on Wednesday. Olin has a 52 week low of $40.41 and a 52 week high of $60.60. The company has a quick ratio of 0.82, a current ratio of 1.43 and a debt-to-equity ratio of 1.29. The stock has a market capitalization of $4.96 billion, a PE ratio of 14.95, a price-to-earnings-growth ratio of 0.96 and a beta of 1.44. The stock’s 50-day moving average price is $48.37 and its 200-day moving average price is $52.42.

Olin (NYSE:OLN) last posted its earnings results on Thursday, July 25th. The specialty chemicals company reported $0.62 EPS for the quarter, missing analysts’ consensus estimates of $0.70 by ($0.08). Olin had a net margin of 4.26% and a return on equity of 11.73%. The business had revenue of $1.64 billion for the quarter, compared to analyst estimates of $1.71 billion. During the same quarter last year, the business earned $1.13 earnings per share. Olin’s 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 fiscal year.

Analyst Upgrades and Downgrades

Several equities research analysts have commented on OLN shares. KeyCorp cut their price objective on Olin from $69.00 to $62.00 and set an “overweight” rating for the company in a research note on Monday, July 29th. Stifel Nicolaus boosted their price objective on Olin from $68.00 to $69.00 and gave the stock a “buy” rating in a research note on Monday, April 29th. Royal Bank of Canada cut their price objective on Olin from $61.00 to $52.00 and set an “outperform” rating for the company in a research note on Monday, July 29th. Wells Fargo & Company cut their price objective on Olin from $50.00 to $48.00 and set an “equal weight” rating for the company in a research note on Monday, July 29th. Finally, Barclays cut their price objective on Olin from $59.00 to $49.00 and set an “equal weight” rating for the company in a research note on Monday, July 29th. One investment analyst has rated the stock with a sell rating, eight have issued a hold rating and six have issued a buy rating to the company. According to data from MarketBeat, the stock has an average rating of “Hold” and an average 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.