Olin (NYSE:OLN) Given New $69.00 Price Target at Stifel Nicolaus

Olin (NYSE:OLN) had its target price boosted by Stifel Nicolaus from $68.00 to $69.00 in a research note issued to investors on Monday morning, Benzinga reports. Stifel Nicolaus currently has a buy rating on the specialty chemicals company’s stock.

A number of other brokerages also recently weighed in on OLN. Barclays lifted their target price on Olin from $57.00 to $59.00 and gave the stock an equal weight rating in a report on Thursday, April 4th. Wells Fargo & Company lifted their price objective on shares of Olin from $56.00 to $60.00 and gave the company an equal weight rating in a research note on Wednesday, April 3rd. Citigroup increased their target price on shares of Olin from $63.00 to $67.00 and gave the stock a buy rating in a research note on Wednesday, April 10th. UBS Group lifted their price target on shares of Olin from $56.00 to $58.00 and gave the company a neutral rating in a research note on Friday, January 26th. Finally, Piper Sandler increased their price objective on shares of Olin from $72.00 to $75.00 and gave the stock an overweight rating in a research report on Monday. Two research analysts have rated the stock with a sell rating, eight have issued a hold rating and six have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of Hold and an average price target of $60.00.

Olin Stock Up 0.1 %

Shares of NYSE OLN opened at $53.54 on Monday. The company’s 50 day moving average price is $55.65 and its 200-day moving average price is $51.70. The company has a debt-to-equity ratio of 1.22, a quick ratio of 0.80 and a current ratio of 1.38. Olin has a 52-week low of $41.71 and a 52-week high of $60.60. The company has a market capitalization of $6.41 billion, a P/E ratio of 19.26, a price-to-earnings-growth ratio of 0.29 and a beta of 1.44.

Olin (NYSE:OLN) last issued its quarterly earnings results on Friday, April 26th. The specialty chemicals company reported $0.40 EPS for the quarter, beating analysts’ consensus estimates of $0.38 by $0.02. Olin had a net margin of 5.32% and a return on equity of 14.47%. The business had revenue of $1.64 billion for the quarter, compared to analysts’ expectations of $1.65 billion. During the same quarter in the prior year, the firm posted $1.16 earnings per share. The business’s quarterly revenue was down 11.3% compared to the same quarter last year. Equities analysts forecast that Olin will post 3.73 earnings per share for the current year.

Olin Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, June 14th. Stockholders of record on Thursday, May 9th will be paid a $0.20 dividend. This represents a $0.80 annualized dividend and a dividend yield of 1.49%. The ex-dividend date of this dividend is Wednesday, May 8th. Olin’s dividend payout ratio (DPR) is presently 28.78%.

Insider Activity

In other Olin news, VP Valerie A. Peters sold 71,800 shares of Olin stock in a transaction on Wednesday, January 31st. The shares were sold at an average price of $52.52, for a total transaction of $3,770,936.00. Following the transaction, the vice president now directly owns 19,469 shares of the company’s stock, valued at approximately $1,022,511.88. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. In other Olin news, VP Valerie A. Peters sold 71,800 shares of the stock in a transaction dated Wednesday, January 31st. The shares were sold at an average price of $52.52, for a total value of $3,770,936.00. Following the completion of the sale, the vice president now owns 19,469 shares in the company, valued at approximately $1,022,511.88. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, CEO Scott Mcdougald Sutton sold 48,896 shares of the company’s stock in a transaction that occurred on Tuesday, February 27th. The shares were sold at an average price of $52.39, for a total value of $2,561,661.44. Following the completion of the transaction, the chief executive officer now directly owns 90,327 shares of the company’s stock, valued at $4,732,231.53. The disclosure for this sale can be found here. Insiders have sold 150,696 shares of company stock worth $7,906,997 over the last 90 days. 1.80% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Olin

Several institutional investors and hedge funds have recently bought and sold shares of OLN. Hotchkis & Wiley Capital Management LLC grew its stake in Olin by 3.2% in the 4th quarter. Hotchkis & Wiley Capital Management LLC now owns 6,602,331 shares of the specialty chemicals company’s stock valued at $356,196,000 after buying an additional 203,260 shares in the last quarter. Boston Partners lifted its holdings in Olin by 122.8% during the 4th quarter. Boston Partners now owns 5,029,377 shares of the specialty chemicals company’s stock worth $271,152,000 after purchasing an additional 2,772,274 shares in the last quarter. Dimensional Fund Advisors LP boosted its position in shares of Olin by 3.6% in the fourth quarter. Dimensional Fund Advisors LP now owns 3,635,983 shares of the specialty chemicals company’s stock valued at $196,167,000 after acquiring an additional 126,587 shares during the period. Pzena Investment Management LLC grew its stake in Olin by 15.6% during the third quarter. Pzena Investment Management LLC now owns 2,940,658 shares of the specialty chemicals company’s stock valued at $146,974,000 after acquiring an additional 397,050 shares in the last quarter. Finally, Balyasny Asset Management L.P. grew its stake in Olin by 218.6% during the fourth quarter. Balyasny Asset Management L.P. now owns 1,649,273 shares of the specialty chemicals company’s stock valued at $88,978,000 after acquiring an additional 1,131,674 shares in the last quarter. 88.67% of the stock is owned by institutional investors.

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.