Olin Corporation (OLN) to Distribute Quarterly Dividend of $0.20 on September 11th

Olin Corporation (NYSE:OLN) declared 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 yield of 4.3%. The ex-dividend date of this dividend is Thursday, August 27th.

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

OLN opened at $18.72 on Thursday. The company has a current ratio of 1.42, a quick ratio of 0.87 and a debt-to-equity ratio of 1.77. The business’s 50 day moving average is $21.56 and its 200-day moving average is $24.49. The stock has a market cap of $2.13 billion, a PE ratio of -15.22 and a beta of 1.22. Olin has a twelve month low of $17.73 and a twelve month high of $30.46.

Wall Street Analyst Weigh In

A number of research analysts have issued reports on the company. 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 research report on Tuesday, August 4th. Truist Financial lowered their price target on Olin from $24.00 to $20.00 and set a “hold” rating on the stock in a report on Monday, August 3rd. JPMorgan Chase & Co. cut their price objective on shares of Olin from $26.00 to $25.00 and set a “neutral” rating on the stock in a research note on Thursday, June 18th. Wall Street Zen downgraded shares of Olin from a “sell” rating to a “strong sell” rating in a report on Saturday, August 8th. Finally, UBS Group decreased their target price on shares of Olin from $23.00 to $21.00 and set a “neutral” rating for the company in a research report on Monday, August 3rd. One equities research analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating, ten have assigned a Hold rating and four have issued a Sell rating to the company. According to MarketBeat, the stock has a consensus rating of “Reduce” and a consensus price target of $23.08.

Olin Company Profile

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.