Bank of America Trims Olin (NYSE:OLN) Target Price to $72.00

Olin (NYSE:OLN) had its price objective cut by Bank of America from $74.00 to $72.00 in a research note issued to investors on Monday, Benzinga reports. They currently have a buy rating on the specialty chemicals company’s stock.

Several other research analysts also recently weighed in on the company. Wells Fargo & Company boosted their target price on Olin from $56.00 to $60.00 and gave the stock an equal weight rating in a research note on Wednesday, April 3rd. Royal Bank of Canada boosted their price target on Olin from $64.00 to $69.00 and gave the stock an outperform rating in a research note on Friday, April 19th. Citigroup upped their price objective on shares of Olin from $63.00 to $67.00 and gave the company a buy rating in a report on Wednesday, April 10th. UBS Group lifted their target price on shares of Olin from $56.00 to $58.00 and gave the stock a neutral rating in a research note on Friday, January 26th. Finally, Stifel Nicolaus upped their price target on shares of Olin from $65.00 to $66.00 and gave the company a buy rating in a research note on Monday, January 29th. Two investment 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. According to MarketBeat.com, the stock currently has an average rating of Hold and a consensus target price of $60.00.

Olin Stock Down 0.4 %

NYSE:OLN opened at $52.06 on Monday. The company has a debt-to-equity ratio of 1.22, a quick ratio of 0.80 and a current ratio of 1.38. The stock has a market capitalization of $6.22 billion, a P/E ratio of 18.73, a P/E/G ratio of 0.30 and a beta of 1.44. The company’s 50-day simple moving average is $55.67 and its 200-day simple moving average is $51.73. Olin has a fifty-two week low of $41.71 and a fifty-two week high of $60.60.

Olin (NYSE:OLN) last announced its earnings results on Friday, April 26th. The specialty chemicals company reported $0.40 earnings per share for the quarter, beating the consensus estimate of $0.38 by $0.02. The company had revenue of $1.64 billion during the quarter, compared to the consensus estimate of $1.65 billion. Olin had a net margin of 5.32% and a return on equity of 14.47%. Olin’s revenue was down 11.3% compared to the same quarter last year. During the same period last year, the firm earned $1.16 earnings per share. On average, equities analysts anticipate that Olin will post 3.68 earnings per share for the current fiscal year.

Olin Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, June 14th. Investors of record on Thursday, May 9th will be given a dividend of $0.20 per share. The ex-dividend date of this dividend is Wednesday, May 8th. This represents a $0.80 annualized dividend and a yield of 1.54%. Olin’s dividend payout ratio is presently 28.78%.

Insiders Place Their Bets

In other Olin news, CEO Scott Mcdougald Sutton sold 15,000 shares of the stock in a transaction that occurred on Thursday, February 22nd. The stock was sold at an average price of $52.50, for a total transaction of $787,500.00. Following the completion of the transaction, the chief executive officer now owns 75,327 shares of the company’s stock, valued at $3,954,667.50. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Over the last quarter, insiders sold 78,896 shares of company stock worth $4,136,061. Company insiders own 1.80% of the company’s stock.

Institutional Trading of Olin

Several large investors have recently made changes to their positions in the company. Hotchkis & Wiley Capital Management LLC boosted its stake in Olin by 3.2% during the 4th quarter. Hotchkis & Wiley Capital Management LLC now owns 6,602,331 shares of the specialty chemicals company’s stock worth $356,196,000 after purchasing an additional 203,260 shares during the last quarter. Boston Partners grew its stake in Olin by 122.8% during the 4th quarter. Boston Partners now owns 5,029,377 shares of the specialty chemicals company’s stock valued at $271,152,000 after acquiring an additional 2,772,274 shares in the last quarter. Dimensional Fund Advisors LP grew its stake in Olin by 3.6% during the 4th 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 in the last quarter. Pzena Investment Management LLC raised its holdings in Olin by 15.6% in the 3rd 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 during the last quarter. Finally, Balyasny Asset Management L.P. lifted its stake in Olin by 218.6% in the 4th quarter. Balyasny Asset Management L.P. now owns 1,649,273 shares of the specialty chemicals company’s stock worth $88,978,000 after purchasing an additional 1,131,674 shares in the last quarter. 88.67% of the stock is currently owned by hedge funds and other 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.