Olin Corporation (OLN) to Issue Quarterly Dividend of $0.20 on June 12th

Olin Corporation (NYSE:OLN) announced a quarterly dividend on Wednesday, April 29th. Investors of record on Thursday, May 14th will be given a dividend of 0.20 per share by the specialty chemicals company on Friday, June 12th. This represents a c) annualized dividend and a yield of 2.8%. The ex-dividend date is Thursday, May 14th.

Olin has a payout ratio of 41.5% indicating that its dividend is sufficiently covered by earnings. Research analysts expect Olin to earn $0.63 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 127.0%.

Olin Price Performance

Olin stock opened at $28.46 on Tuesday. Olin has a 12-month low of $18.08 and a 12-month high of $30.46. The stock has a market cap of $3.24 billion, a P/E ratio of -25.41 and a beta of 1.21. The company has a 50-day moving average price of $26.93 and a 200 day moving average price of $23.74. The company has a current ratio of 1.36, a quick ratio of 0.82 and a debt-to-equity ratio of 1.73.

Insider Activity at Olin

In other news, VP Angela M. Castle sold 2,379 shares of Olin stock in a transaction on Tuesday, February 24th. The shares were sold at an average price of $24.25, for a total value of $57,690.75. Following the transaction, the vice president directly owned 1,528 shares of the company’s stock, valued at $37,054. The trade was a 60.89% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. 1.60% of the stock is owned by insiders.

Hedge Funds Weigh In On Olin

A number of institutional investors have recently modified their holdings of the business. Hotchkis & Wiley Capital Management LLC increased its stake in Olin by 5.5% in the 3rd quarter. Hotchkis & Wiley Capital Management LLC now owns 12,690,488 shares of the specialty chemicals company’s stock valued at $317,135,000 after buying an additional 661,730 shares during the period. Dimensional Fund Advisors LP increased its stake in Olin by 22.4% in the 1st quarter. Dimensional Fund Advisors LP now owns 5,627,997 shares of the specialty chemicals company’s stock valued at $167,311,000 after buying an additional 1,031,498 shares during the period. State Street Corp increased its stake in Olin by 1.1% in the 2nd quarter. State Street Corp now owns 4,830,406 shares of the specialty chemicals company’s stock valued at $97,043,000 after buying an additional 50,309 shares during the period. Pzena Investment Management LLC increased its stake in Olin by 17.5% in the 4th quarter. Pzena Investment Management LLC now owns 4,507,913 shares of the specialty chemicals company’s stock valued at $93,900,000 after buying an additional 671,250 shares during the period. Finally, Orbis Allan Gray Ltd increased its stake in Olin by 448.9% in the 4th quarter. Orbis Allan Gray Ltd now owns 3,804,561 shares of the specialty chemicals company’s stock valued at $79,249,000 after buying an additional 3,111,393 shares during the period. 88.67% of the stock is owned by institutional investors and hedge funds.

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.