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

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

Olin has a payout ratio of 22.2% indicating that 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 Price Performance

Olin stock traded down $3.61 during mid-day trading on Friday, hitting $41.43. The stock had a trading volume of 4,433,972 shares, compared to its average volume of 1,159,959. The firm has a market capitalization of $4.95 billion, a P/E ratio of 14.90, a P/E/G ratio of 1.12 and a beta of 1.41. The company has a current ratio of 1.43, a quick ratio of 0.82 and a debt-to-equity ratio of 1.29. The firm's 50 day moving average is $44.78 and its 200 day moving average is $48.13. Olin has a one year low of $39.47 and a one year high of $60.60.

Olin (NYSE:OLN - Get Free Report) last released its quarterly earnings data 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 company had revenue of $1.64 billion for the quarter, compared to the consensus estimate of $1.71 billion. During the same period last year, the company earned $1.13 EPS. The firm's revenue for the quarter was down 3.5% on a year-over-year basis. On average, sell-side analysts forecast that Olin will post 1.58 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

OLN has been the subject of several research reports. Deutsche Bank Aktiengesellschaft dropped their price objective on shares of Olin from $57.00 to $48.00 and set a "hold" rating for the company in a report on Monday, July 29th. JPMorgan Chase & Co. upgraded shares of 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. KeyCorp decreased their target price on shares of Olin from $62.00 to $57.00 and set an "overweight" rating on the stock in a research report on Monday, October 7th. BMO Capital Markets started coverage on shares of Olin in a research report on Tuesday, September 3rd. They set a "market perform" rating and a $50.00 target price on the stock. Finally, Piper Sandler decreased their target price on shares of Olin from $75.00 to $57.00 and set an "overweight" rating on the stock in a research report on Tuesday, July 30th. One research analyst has rated the stock with a sell rating, eight have given a hold rating and six have assigned a buy rating to the stock. Based on data from MarketBeat.com, Olin presently has an average rating of "Hold" and an average target price 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.