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

Olin Co. (NYSE:OLN) declared a quarterly dividend on Thursday, April 25th, Zacks reports. Investors 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 annualized dividend and a yield of 1.50%. The ex-dividend date is Wednesday, May 8th.

Olin has a payout ratio of 13.0% indicating that its dividend is sufficiently covered by earnings. Equities 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 Price Performance

OLN traded up $0.66 during trading on Friday, hitting $53.48. 2,022,077 shares of the company traded hands, compared to its average volume of 755,565. The company has a market cap of $6.40 billion, a PE ratio of 19.24, a P/E/G ratio of 0.29 and a beta of 1.44. The stock’s 50-day simple moving average is $55.63 and its two-hundred day simple moving average is $51.63. Olin has a 1 year low of $41.71 and a 1 year 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.

Olin (NYSE:OLN) last posted its earnings results on Friday, April 26th. The specialty chemicals company reported $0.40 earnings per share for the quarter, beating the consensus estimate of $0.36 by $0.04. Olin had a net margin of 5.32% and a return on equity of 14.22%. The company had revenue of $1.64 billion during the quarter, compared to analysts’ expectations of $1.65 billion. During the same period last year, the company posted $1.16 earnings per share. Olin’s quarterly revenue was down 11.3% on a year-over-year basis. As a group, sell-side analysts anticipate that Olin will post 3.73 earnings per share for the current fiscal year.

Insider Transactions at Olin

In other Olin news, CEO Scott Mcdougald Sutton sold 539,328 shares of the business’s stock in a transaction that occurred on Tuesday, January 30th. The shares were sold at an average price of $53.96, for a total transaction of $29,102,138.88. Following the sale, the chief executive officer now owns 47,620 shares of the company’s stock, valued at approximately $2,569,575.20. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In other Olin news, CEO Scott Mcdougald Sutton sold 539,328 shares of the business’s stock in a transaction that occurred on Tuesday, January 30th. The shares were sold at an average price of $53.96, for a total transaction of $29,102,138.88. Following the sale, the chief executive officer now owns 47,620 shares of the company’s stock, valued at approximately $2,569,575.20. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. 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 transaction of $3,770,936.00. Following the completion of the sale, the vice president now directly owns 19,469 shares of the company’s stock, valued at approximately $1,022,511.88. The disclosure for this sale can be found here. Insiders have sold a total of 753,274 shares of company stock valued at $40,434,124 in the last 90 days. Insiders own 1.60% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts have commented on the stock. Royal Bank of Canada increased their price objective on shares of Olin from $64.00 to $69.00 and gave the company an “outperform” rating in a research report on Friday, April 19th. Barclays raised their target price on shares of Olin from $57.00 to $59.00 and gave the stock an “equal weight” rating in a report on Thursday, April 4th. The Goldman Sachs Group raised their target price on shares of Olin from $55.00 to $61.00 and gave the stock a “neutral” rating in a report on Tuesday, January 30th. Citigroup raised their target price on shares of Olin from $63.00 to $67.00 and gave the stock a “buy” rating in a report on Wednesday, April 10th. Finally, Stifel Nicolaus raised their target price on shares of Olin from $65.00 to $66.00 and gave the stock a “buy” rating in a report on Monday, January 29th. Two research 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. According to MarketBeat.com, the company currently has an average rating of “Hold” and an average price target 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.