Royal Bank of Canada Trims Olin (NYSE:OLN) Target Price to $63.00

Olin (NYSE:OLN) had its price target trimmed by Royal Bank of Canada from $69.00 to $63.00 in a research note issued to investors on Monday, Benzinga reports. The firm currently has an outperform rating on the specialty chemicals company’s stock.

OLN has been the topic of a number of other research reports. UBS Group lifted their target price on Olin from $56.00 to $58.00 and gave the company a neutral rating in a research report on Friday, January 26th. Barclays upped their target price on shares of Olin from $57.00 to $59.00 and gave the company an equal weight rating in a research report on Thursday, April 4th. KeyCorp dropped their price target on shares of Olin from $78.00 to $73.00 and set an overweight rating for the company in a research report on Monday. Wells Fargo & Company upped their price objective on shares of Olin from $56.00 to $60.00 and gave the stock an equal weight rating in a report on Wednesday, April 3rd. Finally, The Goldman Sachs Group lifted their target price on shares of Olin from $55.00 to $61.00 and gave the company a neutral rating in a report on Tuesday, January 30th. Two research analysts have rated the stock with a sell rating, eight have assigned a hold rating and six have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of Hold and an average price target of $60.00.

Olin Trading Down 0.4 %

Shares of OLN stock opened at $52.06 on Monday. The company has a current ratio of 1.38, a quick ratio of 0.80 and a debt-to-equity ratio of 1.22. Olin has a twelve month low of $41.71 and a twelve month high of $60.60. The company’s 50-day moving average price is $55.67 and its 200-day moving average price is $51.73. The stock has a market cap of $6.22 billion, a price-to-earnings ratio of 18.73, a PEG ratio of 0.30 and a beta of 1.44.

Olin (NYSE:OLN) last posted 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 for the quarter, compared to analyst estimates 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% on a year-over-year basis. During the same period in the previous year, the business posted $1.16 EPS. As a group, equities analysts predict that Olin will post 3.68 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 given a dividend of $0.20 per share. This represents a $0.80 dividend on an annualized basis and a dividend yield of 1.54%. The ex-dividend date of this dividend is Wednesday, May 8th. Olin’s dividend payout ratio is presently 28.78%.

Insider Activity at Olin

In other Olin news, CEO Scott Mcdougald Sutton sold 15,000 shares of the business’s stock in a transaction that occurred on Thursday, February 22nd. The shares were 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 in the company, valued at approximately $3,954,667.50. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Insiders have sold a total of 78,896 shares of company stock valued at $4,136,061 over the last 90 days. 1.80% of the stock is owned by corporate insiders.

Institutional Trading of Olin

A number of institutional investors have recently bought and sold shares of the business. Baystate Wealth Management LLC raised its position in shares of Olin by 154.6% during the 3rd quarter. Baystate Wealth Management LLC now owns 494 shares of the specialty chemicals company’s stock worth $25,000 after acquiring an additional 300 shares in the last quarter. Covestor Ltd raised its holdings in Olin by 76.7% during the third quarter. Covestor Ltd now owns 659 shares of the specialty chemicals company’s stock worth $33,000 after purchasing an additional 286 shares in the last quarter. Sandy Spring Bank lifted its position in shares of Olin by 145.6% during the 4th quarter. Sandy Spring Bank now owns 614 shares of the specialty chemicals company’s stock worth $33,000 after buying an additional 364 shares during the last quarter. Motco acquired a new position in shares of Olin in the 3rd quarter valued at $40,000. Finally, ORG Partners LLC purchased a new position in shares of Olin in the 3rd quarter valued at $44,000. 88.67% of the stock is owned by hedge funds and other institutional investors.

About Olin

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.