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

Olin Corporation (NYSE:OLN) announced a quarterly dividend on Wednesday, November 12th. Shareholders of record on Friday, November 28th will be given a dividend of 0.20 per share by the specialty chemicals company on Friday, December 12th. This represents a c) annualized dividend and a yield of 3.9%. The ex-dividend date is Friday, November 28th.

Olin has a payout ratio of 41.5% meaning its dividend is sufficiently covered by earnings. Research analysts expect Olin to earn $3.02 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 26.5%.

Olin Stock Up 3.4%

OLN traded up $0.67 during trading on Thursday, hitting $20.58. The company had a trading volume of 557,948 shares, compared to its average volume of 2,223,502. The company has a market cap of $2.35 billion, a PE ratio of 44.66, a P/E/G ratio of 6.43 and a beta of 1.79. The company has a debt-to-equity ratio of 1.49, a current ratio of 1.56 and a quick ratio of 0.89. Olin has a 1-year low of $17.66 and a 1-year high of $44.05. The business has a 50-day moving average of $23.43 and a 200-day moving average of $21.79.

Olin (NYSE:OLN) last issued its quarterly earnings results on Monday, October 27th. The specialty chemicals company reported $0.40 EPS for the quarter, topping the consensus estimate of $0.09 by $0.31. Olin had a net margin of 0.79% and a return on equity of 3.36%. The business had revenue of $1.71 billion for the quarter, compared to analysts’ expectations of $1.74 billion. During the same quarter last year, the company posted ($0.21) earnings per share. The company’s quarterly revenue was up 7.8% compared to the same quarter last year. As a group, analysts forecast that Olin will post 1.38 earnings per share for the current year.

Analyst Ratings Changes

OLN has been the subject of a number of research reports. Royal Bank Of Canada set a $26.00 price objective on shares of Olin and gave the stock a “sector perform” rating in a report on Tuesday, October 14th. Bank of America increased their price objective on shares of Olin from $25.00 to $30.00 and gave the stock a “buy” rating in a research note on Tuesday, October 14th. UBS Group lowered their target price on Olin from $24.00 to $22.00 and set a “neutral” rating for the company in a report on Wednesday, October 29th. Truist Financial cut their price target on Olin from $22.00 to $21.00 and set a “hold” rating on the stock in a report on Tuesday, October 28th. Finally, Wells Fargo & Company cut their target price on Olin from $25.00 to $22.00 and set an “equal weight” rating on the stock in a research note on Wednesday, October 29th. One investment analyst has rated the stock with a Strong Buy rating, two have given a Buy rating, eleven have given a Hold rating and two have assigned a Sell rating to the company’s stock. According to data from MarketBeat, Olin has an average rating of “Hold” and an average price target of $25.00.

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.