Olin Corporation (OLN) To Go Ex-Dividend on August 27th

Olin Corporation (NYSE:OLN) announced a quarterly dividend on Tuesday, August 11th. Stockholders of record on Thursday, August 27th will be paid a dividend of 0.20 per share by the specialty chemicals company on Friday, September 11th. This represents a c) dividend on an annualized basis and a dividend yield of 4.6%. The ex-dividend date of this dividend is Thursday, August 27th.

Olin has a dividend payout ratio of 41.5% meaning its dividend is sufficiently covered by earnings. Analysts expect Olin to earn $0.50 per share next year, which means the company may not be able to cover its $0.80 annual dividend with an expected future payout ratio of 160.0%.

Olin Trading Down 4.5%

OLN opened at $17.58 on Tuesday. Olin has a twelve month low of $17.56 and a twelve month high of $30.46. The company has a debt-to-equity ratio of 1.77, a quick ratio of 0.87 and a current ratio of 1.42. The firm has a market cap of $2.00 billion, a PE ratio of -14.29 and a beta of 1.22. The firm’s fifty day moving average is $20.61 and its two-hundred day moving average is $24.26.

Olin (NYSE:OLN) last issued its quarterly earnings results on Thursday, July 30th. The specialty chemicals company reported ($0.12) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.13 by ($0.25). The business had revenue of $1.74 billion during the quarter, compared to analyst estimates of $1.81 billion. Olin had a negative net margin of 2.08% and a negative return on equity of 4.76%. The firm’s quarterly revenue was down .9% on a year-over-year basis. During the same quarter in the previous year, the firm posted ($0.01) earnings per share. Equities research analysts anticipate that Olin will post -0.64 EPS for the current year.

Wall Street Analyst Weigh In

Several brokerages have recently commented on OLN. Mizuho raised their target price on Olin from $23.00 to $24.00 and gave the company a “neutral” rating in a research note on Friday, July 31st. The Goldman Sachs Group lowered their price objective on Olin from $24.00 to $20.00 and set a “neutral” rating on the stock in a research note on Tuesday, August 4th. Wells Fargo & Company restated an “equal weight” rating and set a $20.00 target price (down from $25.00) on shares of Olin in a research report on Monday, August 3rd. Morgan Stanley increased their price target on shares of Olin from $18.00 to $22.00 and gave the stock an “underweight” rating in a report on Monday, May 11th. Finally, UBS Group lowered their price target on Olin from $23.00 to $21.00 and set a “neutral” rating for the company in a research report on Monday, August 3rd. One analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating, ten have assigned a Hold rating and four have assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Reduce” and a consensus price target of $23.08.

Olin Company Profile

Olin Corporation is a diversified manufacturer specializing in chemical products and ammunition. The company’s core business activities encompass the production and distribution of chlor-alkali products, epoxy resins and derivatives, and small-caliber ammunition under the Winchester brand. Olin’s chemical operations supply chlorine, caustic soda and related co-products to a wide range of end markets, including water treatment, pulp and paper, pharmaceuticals and general industrial applications.

In its Chlor Alkali Products & Vinyls segment, Olin operates multiple manufacturing facilities that produce chlorine and sodium hydroxide, along with vinyl chloride monomer and polyvinyl chloride (PVC) compounds.