Olin Co. (NYSE:OLN) declared a quarterly dividend on Thursday, October 25th, RTT News reports. Stockholders of record on Friday, November 9th will be paid a dividend of 0.20 per share by the specialty chemicals company on Monday, December 10th. This represents a $0.80 dividend on an annualized basis and a dividend yield of 3.74%. The ex-dividend date is Thursday, November 8th.
Olin has a payout ratio of 38.8% indicating that its dividend is sufficiently covered by earnings. Research analysts expect Olin to earn $2.45 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 32.7%.
Shares of OLN stock opened at $21.40 on Friday. Olin has a fifty-two week low of $18.49 and a fifty-two week high of $38.84. The firm has a market capitalization of $3.37 billion, a PE ratio of 11.28 and a beta of 1.75. The company has a debt-to-equity ratio of 1.14, a current ratio of 1.81 and a quick ratio of 1.07.
Olin (NYSE:OLN) last announced its quarterly earnings results on Monday, October 29th. The specialty chemicals company reported $0.66 earnings per share for the quarter, missing analysts’ consensus estimates of $0.75 by ($0.09). Olin had a net margin of 11.02% and a return on equity of 10.70%. The firm had revenue of $1.87 billion during the quarter, compared to analysts’ expectations of $1.80 billion. During the same quarter in the prior year, the business earned $0.31 EPS. The company’s quarterly revenue was up 20.4% compared to the same quarter last year. As a group, sell-side analysts anticipate that Olin will post 1.93 earnings per share for the current fiscal year.
In related news, EVP John L. Mcintosh sold 42,000 shares of the stock in a transaction on Wednesday, August 8th. The stock was sold at an average price of $29.98, for a total transaction of $1,259,160.00. Following the sale, the executive vice president now owns 97,141 shares of the company’s stock, valued at $2,912,287.18. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. 1.70% of the stock is owned by company insiders.
A number of research analysts have recently weighed in on OLN shares. TheStreet upgraded Olin from a “c+” rating to a “b” rating in a research report on Wednesday, August 1st. Standpoint Research started coverage on Olin in a research report on Tuesday, August 28th. They issued a “buy” rating and a $20.00 price target for the company. Morgan Stanley set a $38.00 price target on Olin and gave the company a “buy” rating in a research report on Wednesday, September 26th. Citigroup dropped their price target on Olin from $38.00 to $35.00 and set a “buy” rating for the company in a research report on Wednesday, July 11th. Finally, Barclays started coverage on Olin in a research report on Monday, October 8th. They issued an “equal weight” rating and a $29.00 price target for the company. Two equities research analysts have rated the stock with a sell rating, four have issued a hold rating and seven have assigned a buy rating to the company’s stock. Olin has an average rating of “Hold” and a consensus price target of $31.91.
Olin Corporation manufactures and distributes chemical products in the United States and internationally. 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, trichloroethylene and vinylidene chloride, hydrochloric acid, hydrogen, bleach products, and potassium hydroxide.
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