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

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

Olin has a dividend 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

Shares of OLN stock traded up $0.66 on Friday, hitting $53.48. 2,022,077 shares of the company's stock were exchanged, compared to its average volume of 755,565. The company has a debt-to-equity ratio of 1.14, a current ratio of 1.29 and a quick ratio of 0.73. The stock has a market cap of $6.40 billion, a P/E ratio of 19.24, a price-to-earnings-growth ratio of 0.29 and a beta of 1.44. Olin has a 12 month low of $41.71 and a 12 month high of $60.60. The company has a 50 day moving average of $55.63 and a 200 day moving average of $51.65.

Olin (NYSE:OLN - Get Free Report) last posted its earnings results on Friday, April 26th. The specialty chemicals company reported $0.40 EPS for the quarter, beating the consensus estimate of $0.36 by $0.04. The firm had revenue of $1.64 billion during the quarter, compared to the consensus estimate of $1.65 billion. Olin had a return on equity of 14.22% and a net margin of 5.32%. The business's quarterly revenue was down 11.3% on a year-over-year basis. During the same period last year, the company earned $1.16 earnings per share. On average, equities research analysts predict that Olin will post 3.73 EPS for the current year.

Insider Buying and Selling

In related news, CEO Scott Mcdougald Sutton sold 48,896 shares of the firm's stock in a transaction that occurred on Tuesday, February 27th. The stock was sold at an average price of $52.39, for a total transaction of $2,561,661.44. Following the completion of the sale, the chief executive officer now owns 90,327 shares of the company's stock, valued at $4,732,231.53. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In related news, CEO Scott Mcdougald Sutton sold 48,896 shares of the firm's stock in a transaction that occurred on Tuesday, February 27th. The stock was sold at an average price of $52.39, for a total transaction of $2,561,661.44. Following the completion of the sale, the chief executive officer now owns 90,327 shares of the company's stock, valued at $4,732,231.53. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, VP Brett A. Flaugher sold 15,000 shares of the firm's stock in a transaction that occurred on Monday, February 26th. The shares were sold at an average price of $52.46, for a total value of $786,900.00. Following the completion of the sale, the vice president now directly owns 8,782 shares of the company's stock, valued at approximately $460,703.72. The disclosure for this sale can be found here. Insiders sold 753,274 shares of company stock valued at $40,434,124 over the last 90 days. Company insiders own 1.60% of the company's stock.

Wall Street Analyst Weigh In

Several equities analysts have commented on the company. Stifel Nicolaus increased their target price on Olin from $65.00 to $66.00 and gave the company a "buy" rating in a research report on Monday, January 29th. UBS Group increased their target price on Olin from $56.00 to $58.00 and gave the company a "neutral" rating in a research report on Friday, January 26th. Barclays increased their target price on Olin from $57.00 to $59.00 and gave the company an "equal weight" rating in a research report on Thursday, April 4th. KeyCorp raised their price objective on Olin from $66.00 to $78.00 and gave the stock an "overweight" rating in a research report on Tuesday, April 9th. Finally, Wells Fargo & Company raised their price objective on Olin from $56.00 to $60.00 and gave the stock an "equal weight" rating in a research report on Wednesday, April 3rd. 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 stock. According to data from MarketBeat, the stock currently has a consensus 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.