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

Olin Co. (NYSE:OLN) announced a quarterly dividend on Thursday, April 25th, Zacks reports. Stockholders 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 dividend on an annualized basis 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% meaning its dividend is sufficiently covered by earnings. Equities research 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 NYSE:OLN traded up $0.66 during trading on Friday, reaching $53.48. The company’s stock had a trading volume of 2,022,077 shares, compared to its average volume of 755,565. The stock has a market capitalization of $6.40 billion, a PE ratio of 19.24, a price-to-earnings-growth ratio of 0.29 and a beta of 1.44. 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. The firm’s 50 day simple moving average is $55.63 and its two-hundred day simple moving average is $51.63.

Olin (NYSE:OLN) last posted 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 during the quarter, compared to analyst estimates of $1.65 billion. Olin had a return on equity of 14.22% and a net margin of 5.32%. The company’s revenue for the quarter was down 11.3% on a year-over-year basis. During the same period last year, the company earned $1.16 EPS. On average, research analysts predict that Olin will post 3.73 EPS for the current fiscal year.

Analyst Ratings Changes

A number of research analysts have weighed in on OLN shares. The Goldman Sachs Group boosted their price objective on shares of Olin from $55.00 to $61.00 and gave the company a “neutral” rating in a research report on Tuesday, January 30th. 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. Wells Fargo & Company boosted their target price on Olin from $56.00 to $60.00 and gave the company an “equal weight” rating in a research report on Wednesday, April 3rd. Barclays increased 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. Finally, KeyCorp boosted their price objective on Olin from $66.00 to $78.00 and gave the company an “overweight” rating in a report on Tuesday, April 9th. Two research analysts have rated the stock with a sell rating, eight have given a hold rating and five have issued a buy rating to the stock. According to MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price of $59.33.

Insider Activity

In other news, CFO Todd A. Slater sold 63,250 shares of the business’s stock in a transaction dated Tuesday, January 30th. The shares were sold at an average price of $54.15, for a total value of $3,424,987.50. Following the completion of the sale, the chief financial officer now owns 137,517 shares in the company, valued at approximately $7,446,545.55. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. In other news, CFO Todd A. Slater sold 63,250 shares of Olin stock in a transaction on Tuesday, January 30th. The stock was sold at an average price of $54.15, for a total value of $3,424,987.50. Following the transaction, the chief financial officer now directly owns 137,517 shares in the company, valued at approximately $7,446,545.55. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, VP Valerie A. Peters sold 71,800 shares of the business’s stock in a transaction on Wednesday, January 31st. The stock was sold at an average price of $52.52, for a total value of $3,770,936.00. Following the completion of the transaction, the vice president now directly owns 19,469 shares of the company’s stock, valued at $1,022,511.88. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 753,274 shares of company stock worth $40,434,124. Company 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.