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

Olin Co. (NYSE:OLN) declared a quarterly dividend on Thursday, April 25th, Zacks reports. Shareholders of record on Thursday, May 9th will be paid 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 is Wednesday, May 8th.

Olin has a dividend payout ratio of 13.0% meaning its dividend is sufficiently covered by earnings. 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 Stock Up 1.2 %

Shares of 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 company has a fifty day moving average of $55.63 and a two-hundred day moving average of $51.63. Olin has a twelve month low of $41.71 and a twelve month high of $60.60. The company has a market cap of $6.40 billion, a price-to-earnings ratio of 19.24, a P/E/G ratio of 0.29 and a beta of 1.44. The company has a quick ratio of 0.73, a current ratio of 1.29 and a debt-to-equity ratio of 1.14.

Olin (NYSE:OLN) last announced its earnings results on Friday, April 26th. The specialty chemicals company reported $0.40 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.36 by $0.04. The company had revenue of $1.64 billion for 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%. Olin’s quarterly revenue was down 11.3% on a year-over-year basis. During the same period in the prior year, the company posted $1.16 EPS. On average, sell-side analysts predict that Olin will post 3.73 EPS for the current fiscal year.

Insiders Place Their Bets

In other Olin news, CEO Scott Mcdougald Sutton sold 15,000 shares of the firm’s stock in a transaction dated Thursday, February 22nd. The stock was sold at an average price of $52.50, for a total transaction of $787,500.00. Following the completion of the sale, the chief executive officer now directly owns 75,327 shares in the company, valued at approximately $3,954,667.50. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. In other news, CEO Scott Mcdougald Sutton sold 15,000 shares of the firm’s stock in a transaction dated Thursday, February 22nd. The stock was sold at an average price of $52.50, for a total transaction of $787,500.00. Following the completion of the sale, the chief executive officer now directly owns 75,327 shares of the company’s stock, valued at approximately $3,954,667.50. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Todd A. Slater sold 63,250 shares of the firm’s stock in a transaction dated 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 sale, the chief financial officer now directly owns 137,517 shares of the company’s stock, valued at $7,446,545.55. The disclosure for this sale can be found here. In the last ninety days, insiders sold 753,274 shares of company stock worth $40,434,124. 1.60% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

Several research firms recently issued reports on OLN. Citigroup upped their price target on Olin from $63.00 to $67.00 and gave the company a “buy” rating in a research report on Wednesday, April 10th. Wells Fargo & Company increased their price target on Olin from $56.00 to $60.00 and gave the stock an “equal weight” rating in a research note on Wednesday, April 3rd. Stifel Nicolaus upped their price objective on Olin from $65.00 to $66.00 and gave the company a “buy” rating in a report on Monday, January 29th. Barclays upped their price objective on Olin from $57.00 to $59.00 and gave the company an “equal weight” rating in a report on Thursday, April 4th. Finally, UBS Group upped their price objective on Olin from $56.00 to $58.00 and gave the company a “neutral” rating in a report on Friday, January 26th. Two analysts have rated the stock with a sell rating, eight have given a hold rating and five have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average target price of $59.33.

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.