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

Olin Co. (NYSE:OLN - Get Free Report) announced a quarterly dividend on Wednesday, February 19th, Wall Street Journal reports. Investors of record on Thursday, March 6th will be paid a dividend of 0.20 per share by the specialty chemicals company on Friday, March 14th. This represents a $0.80 dividend on an annualized basis and a dividend yield of 3.01%. The ex-dividend date of this dividend is Thursday, March 6th.

Olin has a dividend payout ratio of 26.8% indicating that its dividend is sufficiently covered by earnings. 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 Performance

OLN stock traded down $0.31 during midday trading on Monday, hitting $26.56. The company's stock had a trading volume of 1,030,200 shares, compared to its average volume of 1,765,890. Olin has a 1 year low of $26.28 and a 1 year high of $60.60. The stock has a market cap of $3.10 billion, a price-to-earnings ratio of 29.51 and a beta of 1.45. The stock's 50-day moving average price is $31.50 and its 200 day moving average price is $39.18. The company has a quick ratio of 0.77, a current ratio of 1.27 and a debt-to-equity ratio of 1.32.

Olin (NYSE:OLN - Get Free Report) last issued its quarterly earnings results on Thursday, January 30th. The specialty chemicals company reported $0.09 earnings per share for the quarter, topping analysts' consensus estimates of ($0.01) by $0.10. Olin had a net margin of 1.66% and a return on equity of 5.10%. On average, equities analysts forecast that Olin will post 1.38 EPS for the current year.

Insider Buying and Selling

In other news, CEO Kenneth Todd Lane purchased 7,250 shares of the company's stock in a transaction on Tuesday, February 4th. The stock was acquired at an average price of $28.06 per share, with a total value of $203,435.00. Following the transaction, the chief executive officer now directly owns 7,250 shares of the company's stock, valued at approximately $203,435. This represents a ∞ increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 1.60% of the stock is owned by insiders.

Olin declared that its Board of Directors has authorized a share repurchase program on Thursday, December 12th that allows the company to buyback $2.00 billion in shares. This buyback authorization allows the specialty chemicals company to buy up to 45% of its stock through open market purchases. Stock buyback programs are typically a sign that the company's leadership believes its shares are undervalued.

Wall Street Analysts Forecast Growth

Several analysts have recently issued reports on the stock. Citigroup lowered their price target on shares of Olin from $48.00 to $45.00 and set a "buy" rating on the stock in a research report on Monday, December 16th. KeyCorp dropped their target price on Olin from $50.00 to $40.00 and set an "overweight" rating on the stock in a research report on Monday, February 3rd. Piper Sandler lowered Olin from an "overweight" rating to a "neutral" rating and cut their price target for the stock from $41.00 to $33.00 in a report on Thursday, February 13th. Bank of America upgraded Olin from a "neutral" rating to a "buy" rating and decreased their price objective for the company from $48.00 to $40.00 in a research note on Tuesday, January 14th. Finally, Morgan Stanley dropped their price objective on shares of Olin from $31.00 to $28.00 and set an "underweight" rating for the company in a report on Tuesday, February 4th. One research analyst has rated the stock with a sell rating, ten have issued a hold rating and five have assigned a buy rating to the stock. Based on data from MarketBeat.com, Olin currently has a consensus rating of "Hold" and an average price target of $40.44.

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.