Olin Corporation (NYSE:OLN) Declares Quarterly Dividend of $0.20

Key Points

• Olin declared a quarterly dividend of $0.20 per share, payable September 11 to shareholders of record on August 27, implying an annualized yield of approximately 4.3%.
• The dividend currently has a 41.5% payout ratio based on earnings, but analysts expect next year’s earnings of $0.50 per share versus an annual dividend of $0.80, potentially raising the future payout ratio to 160%.
• Olin shares fell 2.5% to $18.61, near their 12-month low, while institutional investors—including Amundi, UBS and Dimensional Fund Advisors—expanded their holdings; institutions collectively own 88.67% of the company.

Olin Corporation (NYSE:OLN - Get Free Report) declared a quarterly dividend on Tuesday, August 11th. Investors 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 4.3%. The ex-dividend date is Thursday, August 27th.

Olin has a dividend payout ratio of 41.5% meaning its dividend is sufficiently covered by earnings. Equities 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 Stock Down 2.5%

Shares of OLN stock traded down $0.47 on Wednesday, reaching $18.61. 368,434 shares of the stock were exchanged, compared to its average volume of 3,011,808. The company has a market capitalization of $2.12 billion, a price-to-earnings ratio of -15.14 and a beta of 1.22. The business's 50 day moving average price is $21.70 and its 200 day moving average price is $24.53. The company has a current ratio of 1.42, a quick ratio of 0.87 and a debt-to-equity ratio of 1.77. Olin has a twelve month low of $17.73 and a twelve month high of $30.46.

Hedge Funds Weigh In On Olin

A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. Amundi raised its position in Olin by 337.2% during the 1st quarter. Amundi now owns 684,036 shares of the specialty chemicals company's stock worth $20,336,000 after buying an additional 527,586 shares during the last quarter. UBS Group AG lifted its position in Olin by 52.2% in the fourth quarter. UBS Group AG now owns 1,098,312 shares of the specialty chemicals company's stock valued at $22,878,000 after purchasing an additional 376,543 shares during the period. Dimensional Fund Advisors LP boosted its holdings in Olin by 22.4% in the 1st quarter. Dimensional Fund Advisors LP now owns 5,627,997 shares of the specialty chemicals company's stock valued at $167,311,000 after purchasing an additional 1,031,498 shares in the last quarter. Empowered Funds LLC increased its position in Olin by 1,946.0% during the 1st quarter. Empowered Funds LLC now owns 435,599 shares of the specialty chemicals company's stock worth $12,950,000 after purchasing an additional 414,309 shares during the period. Finally, Pzena Investment Management LLC raised its stake in shares of Olin by 17.5% during the 4th quarter. Pzena Investment Management LLC now owns 4,507,913 shares of the specialty chemicals company's stock worth $93,900,000 after buying an additional 671,250 shares in the last quarter. Hedge funds and other institutional investors own 88.67% of the company's stock.

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.

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