NEW YORK CITY - Olin Corporation (NYSE: NYSE:OLN), a leading global manufacturer and distributor of chemical products, is hosting an Investor Day today in New York City. The event, which began at 9:00 AM ET and is set to conclude around 12:00 PM ET, features presentations and a Q&A session with the company's President & CEO, Ken Lane, alongside the Executive Leadership Team.
Olin Corporation's portfolio includes chemicals such as chlorine, caustic soda, and vinyls, as well as ammunition through its Winchester division. The company emphasizes a commitment to delivering essential materials to customers and enhancing shareholder returns through market leadership and a disciplined approach to capital allocation. With a robust free cash flow yield of 13% and a 51-year track record of consecutive dividend payments, Olin demonstrates strong shareholder focus. InvestingPro's analysis suggests the stock is currently undervalued, with analysts setting price targets ranging from $41 to $70. With a robust free cash flow yield of 13% and a 51-year track record of consecutive dividend payments, Olin demonstrates strong shareholder focus. InvestingPro's analysis suggests the stock is currently undervalued, with analysts setting price targets ranging from $41 to $70.
Under this new program, Olin may repurchase shares periodically in open market or privately negotiated transactions. Management retains discretion over the timing, manner, number, and value of the repurchases, which will depend on various factors, including Olin's stock price, market conditions, and other business considerations. Notably, the program has no expiration date and does not commit Olin to repurchase any specific number of shares.
As of September 30, 2024, Olin had approximately $0.7 billion remaining under its "2022 Share Repurchase Program." The new authorization does not affect the existing repurchase plan.
Olin Corporation's portfolio includes chemicals such as chlorine, caustic soda, and vinyls, as well as ammunition through its Winchester division. The company emphasizes a commitment to delivering essential materials to customers and enhancing shareholder returns through market leadership and a disciplined approach to capital allocation.
This announcement is based on a press release statement and includes forward-looking statements, which are subject to risks, uncertainties, and assumptions. These could cause actual results to differ materially from those projected in the statements. The company's forward-looking statements are not guarantees of future performance and are based on current expectations and management's beliefs. Olin's filings with the SEC provide further details on the risks and uncertainties associated with these forward-looking statements.
In other recent news, Olin Corporation has been facing several developments. The company reported weaker than expected earnings for the second half of 2024, primarily due to hurricane-related disruptions costing the company about $135 million. Despite these challenges, Olin's chemical segment exceeded expectations due to an increase in caustic soda prices. Analysts from firms such as Piper Sandler, RBC Capital, and KeyBanc Capital Markets have revised their price targets for Olin, attributing the adjustments to a lower earnings forecast for 2025.
The Chemours Company (NYSE:CC) has announced plans to construct a chlor-alkali production facility, which could introduce additional competition within the market for chlor-alkali products, potentially impacting Olin. Furthermore, Olin Corporation has made changes to its executive leadership. Dana O’Brien, Senior Vice President and Chief Legal Officer, announced her retirement, and Angela M. Castle is set to succeed her. These recent developments reflect the ongoing changes within Olin Corporation.
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