Olin Co. (NYSE:OLN) Given Average Rating of “Hold” by Analysts

Olin Co. (NYSE:OLN) has earned an average rating of “Hold” from the fifteen analysts that are covering the stock, MarketBeat.com reports. One research analyst has rated the stock with a sell recommendation, eleven have given a hold recommendation and three have given a buy recommendation to the company. The average 12-month price target among analysts that have issued ratings on the stock in the last year is $30.93.

Several analysts have weighed in on OLN shares. KeyCorp cut their target price on Olin from $40.00 to $34.00 and set an “overweight” rating on the stock in a research note on Monday, April 14th. UBS Group upped their price objective on shares of Olin from $21.00 to $22.00 and gave the stock a “neutral” rating in a report on Friday. Piper Sandler lowered their target price on shares of Olin from $33.00 to $26.00 and set a “neutral” rating on the stock in a research note on Monday, April 7th. JPMorgan Chase & Co. lowered shares of Olin from an “overweight” rating to a “neutral” rating and reduced their price target for the stock from $50.00 to $28.00 in a research note on Thursday, February 27th. Finally, BMO Capital Markets lowered their price objective on shares of Olin from $44.00 to $34.00 and set a “market perform” rating on the stock in a research note on Wednesday, February 5th.

Olin Stock Up 2.8 %

Olin stock opened at $22.25 on Friday. The firm has a market capitalization of $2.56 billion, a P/E ratio of 24.72 and a beta of 1.50. The company has a 50-day simple moving average of $22.86 and a 200-day simple moving average of $31.70. Olin has a one year low of $17.66 and a one year high of $57.10. The company has a debt-to-equity ratio of 1.32, a quick ratio of 0.77 and a current ratio of 1.27.

Olin (NYSE:OLN) last announced its quarterly earnings results on Thursday, May 1st. The specialty chemicals company reported $0.04 EPS for the quarter, beating the consensus estimate of ($0.10) by $0.14. The company had revenue of $1.64 billion for the quarter, compared to analyst estimates of $1.58 billion. Olin had a net margin of 1.66% and a return on equity of 5.10%. Olin’s revenue was up 1.2% compared to the same quarter last year. During the same quarter last year, the business earned $0.40 earnings per share. As a group, equities analysts expect that Olin will post 1.38 earnings per share for the current year.

Olin Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, June 13th. Investors of record on Thursday, May 15th will be issued a $0.20 dividend. This represents a $0.80 dividend on an annualized basis and a dividend yield of 3.60%. The ex-dividend date of this dividend is Thursday, May 15th. Olin’s payout ratio is 88.89%.

Insider Activity

In other news, CEO Kenneth Todd Lane purchased 7,250 shares of the business’s stock in a transaction dated Tuesday, February 4th. The shares were acquired at an average price of $28.06 per share, for a total transaction of $203,435.00. Following the completion of the acquisition, the chief executive officer now directly owns 7,250 shares of the company’s stock, valued at $203,435. The trade was a ∞ increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. 1.70% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Olin

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. Blue Trust Inc. boosted its position in shares of Olin by 34.3% in the fourth quarter. Blue Trust Inc. now owns 2,887 shares of the specialty chemicals company’s stock worth $98,000 after buying an additional 738 shares during the period. Harbor Capital Advisors Inc. boosted its position in Olin by 55.5% during the 4th quarter. Harbor Capital Advisors Inc. now owns 143,062 shares of the specialty chemicals company’s stock worth $4,835,000 after acquiring an additional 51,051 shares during the period. KBC Group NV grew its stake in Olin by 82.9% during the 4th quarter. KBC Group NV now owns 5,461 shares of the specialty chemicals company’s stock valued at $185,000 after acquiring an additional 2,476 shares in the last quarter. Mariner Investment Group LLC acquired a new position in shares of Olin in the 4th quarter valued at about $355,000. Finally, LPL Financial LLC increased its holdings in shares of Olin by 218.9% in the 4th quarter. LPL Financial LLC now owns 138,477 shares of the specialty chemicals company’s stock valued at $4,681,000 after purchasing an additional 95,054 shares during the period. 88.67% of the stock is currently 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.