Olin Co. (OLN) To Go Ex-Dividend on August 8th

Olin Co. (NYSE:OLN) declared a quarterly dividend on Wednesday, July 24th, Zacks reports. Shareholders of record on Thursday, August 8th will be paid a dividend of 0.20 per share by the specialty chemicals company on Friday, September 13th. This represents a $0.80 annualized dividend and a yield of 1.91%. The ex-dividend date of this dividend is Thursday, August 8th.

Olin has a dividend payout ratio of 17.9% meaning its dividend is sufficiently covered by earnings. Equities research analysts expect Olin to earn $3.54 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 22.6%.

Olin Stock Up 1.2 %

Shares of NYSE:OLN traded up $0.48 during trading on Tuesday, reaching $41.90. 360,398 shares of the stock were exchanged, compared to its average volume of 1,115,962. The stock has a fifty day moving average of $48.63 and a two-hundred day moving average of $52.48. Olin has a 1-year low of $40.41 and a 1-year high of $60.60. The company has a debt-to-equity ratio of 1.29, a current ratio of 1.43 and a quick ratio of 0.82. The firm has a market cap of $5.00 billion, a price-to-earnings ratio of 15.18, a price-to-earnings-growth ratio of 0.96 and a beta of 1.44.

Olin (NYSE:OLN) last released its quarterly earnings results on Thursday, July 25th. The specialty chemicals company reported $0.62 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.70 by ($0.08). Olin had a net margin of 4.26% and a return on equity of 11.73%. The company had revenue of $1.64 billion for the quarter, compared to analyst estimates of $1.71 billion. During the same quarter last year, the firm posted $1.13 EPS. Olin’s revenue for the quarter was down 3.5% on a year-over-year basis. Research analysts anticipate that Olin will post 1.61 earnings per share for the current fiscal year.

Analysts Set New Price Targets

OLN has been the topic of a number of recent analyst reports. Barclays dropped their price target on shares of Olin from $59.00 to $49.00 and set an “equal weight” rating on the stock in a research report on Monday, July 29th. Royal Bank of Canada decreased their price target on Olin from $61.00 to $52.00 and set an “outperform” rating for the company in a research report on Monday, July 29th. Piper Sandler cut their price objective on Olin from $75.00 to $57.00 and set an “overweight” rating on the stock in a research report on Tuesday, July 30th. KeyCorp decreased their target price on Olin from $69.00 to $62.00 and set an “overweight” rating for the company in a research report on Monday, July 29th. Finally, Citigroup lifted their target price on Olin from $63.00 to $67.00 and gave the stock a “buy” rating in a research note on Wednesday, April 10th. One investment analyst has rated the stock with a sell rating, eight have issued a hold rating and six have given a buy rating to the company’s stock. Based on data from MarketBeat.com, Olin currently has an average rating of “Hold” and a consensus price target of $53.86.

Olin Company Profile

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.