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

Olin Corporation (NYSE:OLN) announced a quarterly dividend on Tuesday, August 11th. Shareholders of record on Thursday, August 27th will be given a dividend of 0.20 per share by the specialty chemicals company on Friday, September 11th. This represents a c) annualized dividend and a dividend yield of 4.3%. The ex-dividend date of this dividend is Thursday, August 27th.

Olin has a dividend payout ratio of 41.5% meaning its dividend is sufficiently covered by earnings. Research 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 Price Performance

OLN traded down $0.39 during trading on Wednesday, reaching $18.69. 445,431 shares of the company were exchanged, compared to its average volume of 3,012,626. The company has a quick ratio of 0.87, a current ratio of 1.42 and a debt-to-equity ratio of 1.77. The company has a market cap of $2.13 billion, a price-to-earnings ratio of -15.21 and a beta of 1.22. Olin has a 12-month low of $17.73 and a 12-month high of $30.46. The company’s 50-day moving average is $21.70 and its two-hundred day moving average is $24.53.

Wall Street Analysts Forecast Growth

Several research analysts have commented on OLN shares. Citigroup downgraded shares of Olin from a “neutral” rating to an “underperform” rating in a research note on Tuesday, June 30th. Weiss Ratings restated a “sell (d)” rating on shares of Olin in a report on Friday, May 22nd. Morgan Stanley boosted their target price on shares of Olin from $18.00 to $22.00 and gave the company an “underweight” rating in a research report on Monday, May 11th. Mizuho increased their target price on shares of Olin from $23.00 to $24.00 and gave the stock a “neutral” rating in a research note on Friday, July 31st. Finally, The Goldman Sachs Group reduced their price target on Olin from $24.00 to $20.00 and set a “neutral” rating for the company in a report on Tuesday, August 4th. One investment analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating, ten have given a Hold rating and four have given a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Reduce” and an average target price of $23.08.

About Olin

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.