Olin Corporation (OLN) To Go Ex-Dividend on November 9th
Olin Corporation (NYSE:OLN) announced a quarterly dividend on Wednesday, October 25th, RTT News reports. Investors of record on Friday, November 10th will be paid a dividend of 0.20 per share by the specialty chemicals company on Monday, December 11th. This represents a $0.80 annualized dividend and a yield of 2.23%. The ex-dividend date is Thursday, November 9th.
Olin Corporation has a dividend payout ratio of 88.9% meaning its dividend is currently covered by earnings, but may not be in the future if the company’s earnings decline. Research analysts expect Olin Corporation to earn $2.26 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 35.4%.
Olin Corporation (OLN) opened at $35.94 on Wednesday. The company has a current ratio of 1.72, a quick ratio of 1.03 and a debt-to-equity ratio of 1.59. The stock has a market cap of $5,968.79, a P/E ratio of 44.27, a PEG ratio of 4.11 and a beta of 1.41. Olin Corporation has a 1 year low of $21.87 and a 1 year high of $37.52.
Olin Corporation (NYSE:OLN) last announced its earnings results on Monday, October 30th. The specialty chemicals company reported $0.31 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.35 by ($0.04). The business had revenue of $1.55 billion for the quarter, compared to analysts’ expectations of $1.58 billion. Olin Corporation had a return on equity of 6.05% and a net margin of 1.29%. The business’s revenue was up 7.0% on a year-over-year basis. During the same quarter last year, the business posted $0.11 earnings per share. research analysts predict that Olin Corporation will post 0.9 EPS for the current year.
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In other news, Chairman John E. Fischer sold 37,583 shares of the business’s stock in a transaction dated Wednesday, November 1st. The stock was sold at an average price of $36.80, for a total transaction of $1,383,054.40. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, VP Stephen C. Curley sold 5,000 shares of the business’s stock in a transaction dated Tuesday, August 15th. The stock was sold at an average price of $30.34, for a total value of $151,700.00. Following the sale, the vice president now owns 23,837 shares of the company’s stock, valued at approximately $723,214.58. The disclosure for this sale can be found here. Insiders have sold a total of 57,583 shares of company stock valued at $2,086,754 in the last quarter. Company insiders own 2.90% of the company’s stock.
OLN has been the topic of a number of analyst reports. TheStreet upgraded shares of Olin Corporation from a “c+” rating to a “b” rating in a research report on Tuesday, October 31st. SunTrust Banks, Inc. restated a “buy” rating and set a $46.00 target price on shares of Olin Corporation in a research report on Monday. Cowen and Company set a $39.00 target price on shares of Olin Corporation and gave the stock a “buy” rating in a research report on Friday, July 28th. BidaskClub upgraded shares of Olin Corporation from a “hold” rating to a “buy” rating in a research report on Sunday, July 16th. Finally, Citigroup Inc. began coverage on shares of Olin Corporation in a research report on Wednesday, September 27th. They set a “buy” rating and a $39.00 target price on the stock. Five research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. The company presently has a consensus rating of “Buy” and a consensus price target of $37.13.
About Olin Corporation
Olin Corporation is a manufacturer and distributor of chemical products, and ammunition. The Company operates through three segments: Chlor Alkali Products and Vinyls, Epoxy and Winchester. The Chlor Alkali Products and Vinyls segment manufactures and sells chlorine and caustic soda, ethylene dichloride and vinyl chloride monomer, methyl chloride, methylene chloride, chloroform, carbon tetrachloride, perchloroethylene, trichloroethylene and vinylidene chloride, hydrochloric acid, hydrogen, bleach products and potassium hydroxide.
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