Olin Co. (NYSE:OLN) Receives $38.38 Consensus Target Price from Analysts

Shares of Olin Co. (NYSE:OLN) have earned an average recommendation of “Hold” from the sixteen brokerages that are currently covering the firm, MarketBeat Ratings reports. One research analyst has rated the stock with a sell rating, eleven have given a hold rating and four have assigned a buy rating to the company. The average 1-year price objective among analysts that have updated their coverage on the stock in the last year is $38.38.

OLN has been the topic of several research reports. Morgan Stanley lowered their price objective on shares of Olin from $31.00 to $28.00 and set an “underweight” rating on the stock in a report on Tuesday, February 4th. Royal Bank of Canada downgraded shares of Olin from an “outperform” rating to a “sector perform” rating and lowered their price objective for the stock from $45.00 to $30.00 in a report on Tuesday, February 4th. JPMorgan Chase & Co. downgraded shares of Olin from an “overweight” rating to a “neutral” rating and lowered their price objective for the stock from $50.00 to $28.00 in a report on Thursday, February 27th. Truist Financial lowered their price objective on shares of Olin from $38.00 to $32.00 and set a “hold” rating on the stock in a report on Monday, February 3rd. Finally, Bank of America upgraded shares of Olin from a “neutral” rating to a “buy” rating and lowered their price objective for the stock from $48.00 to $40.00 in a report on Tuesday, January 14th.

Olin Stock Up 3.6 %

Olin stock opened at $24.66 on Friday. The company has a quick ratio of 0.77, a current ratio of 1.27 and a debt-to-equity ratio of 1.32. Olin has a 12-month low of $22.98 and a 12-month high of $60.60. The firm’s fifty day moving average is $28.83 and its 200 day moving average is $37.31. The company has a market capitalization of $2.85 billion, a PE ratio of 27.40 and a beta of 1.61.

Olin (NYSE:OLN) last released its earnings results on Thursday, January 30th. The specialty chemicals company reported $0.09 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.01) by $0.10. Olin had a net margin of 1.66% and a return on equity of 5.10%. As a group, sell-side analysts predict that Olin will post 1.38 EPS for the current fiscal year.

Olin announced that its board has initiated a share repurchase program on Thursday, December 12th that authorizes the company to buyback $2.00 billion in shares. This buyback authorization authorizes the specialty chemicals company to reacquire up to 45% of its stock through open market purchases. Stock buyback programs are usually a sign that the company’s board believes its stock is undervalued.

Olin Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, March 14th. Investors of record on Thursday, March 6th were issued a dividend of $0.20 per share. The ex-dividend date of this dividend was Thursday, March 6th. This represents a $0.80 dividend on an annualized basis and a yield of 3.24%. Olin’s dividend payout ratio (DPR) is presently 88.89%.

Insider Buying and Selling

In related news, CEO Kenneth Todd Lane acquired 7,250 shares of the firm’s stock in a transaction that occurred on Tuesday, February 4th. The stock was 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 owns 7,250 shares of the company’s stock, valued at approximately $203,435. This represents a ∞ increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. 1.60% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Olin

Several large investors have recently modified their holdings of the business. Farther Finance Advisors LLC increased its stake in shares of Olin by 88.2% in the third quarter. Farther Finance Advisors LLC now owns 589 shares of the specialty chemicals company’s stock worth $28,000 after purchasing an additional 276 shares in the last quarter. Entropy Technologies LP increased its stake in shares of Olin by 2.5% in the third quarter. Entropy Technologies LP now owns 13,499 shares of the specialty chemicals company’s stock worth $648,000 after purchasing an additional 332 shares in the last quarter. Covestor Ltd increased its stake in shares of Olin by 45.8% in the fourth quarter. Covestor Ltd now owns 1,334 shares of the specialty chemicals company’s stock worth $45,000 after purchasing an additional 419 shares in the last quarter. Wilmington Savings Fund Society FSB increased its stake in shares of Olin by 9.4% in the fourth quarter. Wilmington Savings Fund Society FSB now owns 5,833 shares of the specialty chemicals company’s stock worth $197,000 after purchasing an additional 500 shares in the last quarter. Finally, Connable Office Inc. increased its stake in shares of Olin by 9.3% in the fourth quarter. Connable Office Inc. now owns 6,207 shares of the specialty chemicals company’s stock worth $210,000 after purchasing an additional 527 shares in the last quarter. Hedge funds and other institutional investors own 88.67% of the company’s stock.

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.