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

Olin Co. (NYSE:OLN) declared a quarterly dividend on Thursday, October 24th,Zacks Dividends reports. Stockholders of record on Thursday, November 14th will be given a dividend of 0.20 per share by the specialty chemicals company on Friday, December 13th. This represents a $0.80 annualized dividend and a dividend yield of 1.81%. The ex-dividend date of this dividend is Thursday, November 14th.

Olin has a payout ratio of 28.0% indicating that its dividend is sufficiently covered by earnings. Analysts expect Olin to earn $2.89 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 27.7%.

Olin Price Performance

OLN stock opened at $44.16 on Tuesday. The business’s fifty day moving average price is $44.48 and its 200 day moving average price is $47.24. Olin has a 12-month low of $39.47 and a 12-month high of $60.60. The company has a market capitalization of $5.15 billion, a PE ratio of 35.61, a P/E/G ratio of 1.79 and a beta of 1.43. The company has a current ratio of 1.40, a quick ratio of 0.82 and a debt-to-equity ratio of 1.32.

Wall Street Analysts Forecast Growth

Several research analysts have recently commented on the stock. BMO Capital Markets lowered their price objective on shares of Olin from $50.00 to $47.00 and set a “market perform” rating for the company in a research note on Tuesday, October 29th. Wells Fargo & Company decreased their price target on shares of Olin from $48.00 to $44.00 and set an “equal weight” rating for the company in a research report on Monday, October 28th. The Goldman Sachs Group cut their price objective on Olin from $55.00 to $49.00 and set a “neutral” rating on the stock in a research report on Monday, July 29th. Piper Sandler decreased their target price on Olin from $57.00 to $51.00 and set an “overweight” rating for the company in a report on Wednesday, October 30th. Finally, Mizuho assumed coverage on Olin in a report on Thursday, August 8th. They set a “neutral” rating and a $45.00 price target on the stock. Eight equities research analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price of $51.86.

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.