Olin Co. (NYSE:OLN) announced a quarterly dividend on Thursday, October 25th, RTT News reports. Shareholders of record on Friday, November 9th will be given 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 yield of 3.68%. The ex-dividend date of this dividend is Thursday, November 8th.
Olin has a payout ratio of 38.8% indicating that its dividend is sufficiently covered by earnings. Equities 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%.
OLN stock opened at $21.75 on Wednesday. The company has a debt-to-equity ratio of 1.14, a quick ratio of 1.13 and a current ratio of 1.81. Olin has a twelve month low of $18.49 and a twelve month high of $38.84. The firm has a market capitalization of $3.57 billion, a price-to-earnings ratio of 26.85, a price-to-earnings-growth ratio of 0.31 and a beta of 1.75.
Olin (NYSE:OLN) last released its 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 return on equity of 10.70% and a net margin of 11.02%. The business had revenue of $1.87 billion during the quarter, compared to analysts’ expectations of $1.80 billion. During the same quarter in the previous year, the business earned $0.31 EPS. The business’s revenue for the quarter was up 20.4% on a year-over-year basis. Sell-side analysts predict that Olin will post 1.89 earnings per share for the current fiscal year.
A number of equities analysts have recently issued reports on the company. TheStreet raised Olin from a “c+” rating to a “b” rating in a research report on Wednesday, August 1st. Citigroup dropped their price target on Olin from $38.00 to $35.00 and set a “buy” rating on the stock in a research report on Wednesday, July 11th. SunTrust Banks dropped their price target on Olin to $35.00 and set an “in-line” rating on the stock in a research report on Wednesday, October 31st. They noted that the move was a valuation call. Barclays dropped their price target on Olin from $29.00 to $24.00 and set an “equal weight” rating on the stock in a research report on Wednesday, October 31st. Finally, Nomura dropped their price target on Olin from $33.00 to $29.00 and set a “neutral” rating on the stock in a research report on Monday, October 15th. Two analysts have rated the stock with a sell rating, four have issued a hold rating and seven have given a buy rating to the company. Olin presently has a consensus rating of “Hold” and a consensus price target of $31.91.
In related news, Director Scott Mcdougald Sutton acquired 15,000 shares of the company’s stock in a transaction that occurred on Thursday, November 1st. The shares were bought at an average price of $21.62 per share, with a total value of $324,300.00. Following the completion of the transaction, the director now directly owns 15,000 shares in the company, valued at $324,300. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 1.70% of the stock is owned by company insiders.
Olin Company Profile
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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