Olin Corporation (NYSE:OLN) Receives $23.73 Average PT from Analysts

Olin Corporation (NYSE:OLN) has earned a consensus recommendation of “Hold” from the eighteen ratings firms that are covering the company, Marketbeat reports. Three investment analysts have rated the stock with a sell rating, twelve have given a hold rating, two have assigned a buy rating and one has assigned a strong buy rating to the company. The average 12-month price objective among brokers that have issued a report on the stock in the last year is $23.7333.

OLN has been the topic of a number of recent analyst reports. Royal Bank Of Canada cut their price target on shares of Olin from $24.00 to $21.00 and set a “sector perform” rating on the stock in a research note on Monday, February 2nd. Truist Financial cut their target price on Olin from $23.00 to $20.00 and set a “hold” rating on the stock in a research report on Monday, February 2nd. KeyCorp reduced their target price on Olin from $29.00 to $26.00 and set an “overweight” rating on the stock in a report on Monday, February 2nd. Wall Street Zen downgraded Olin from a “hold” rating to a “sell” rating in a research report on Saturday, January 10th. Finally, BMO Capital Markets dropped their price target on Olin from $25.00 to $24.00 and set a “market perform” rating for the company in a research note on Tuesday, February 3rd.

Insider Activity

In related news, CFO Todd A. Slater sold 92,250 shares of the business’s stock in a transaction dated Tuesday, February 3rd. The stock was sold at an average price of $22.48, for a total value of $2,073,780.00. Following the completion of the sale, the chief financial officer directly owned 44,291 shares of the company’s stock, valued at $995,661.68. The trade was a 67.56% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, VP R Nichole Sumner sold 4,750 shares of the business’s stock in a transaction that occurred on Tuesday, February 3rd. The shares were sold at an average price of $22.49, for a total value of $106,827.50. Following the completion of the sale, the vice president owned 24,771 shares of the company’s stock, valued at $557,099.79. This trade represents a 16.09% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 99,379 shares of company stock worth $2,238,298 over the last ninety days. Corporate insiders own 1.60% of the company’s stock.

Institutional Trading of Olin

A number of institutional investors and hedge funds have recently made changes to their positions in OLN. Strategic Advocates LLC acquired a new stake in shares of Olin in the 3rd quarter worth about $25,000. Rockefeller Capital Management L.P. increased its stake in shares of Olin by 115.2% in the fourth quarter. Rockefeller Capital Management L.P. now owns 1,231 shares of the specialty chemicals company’s stock valued at $26,000 after purchasing an additional 659 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. acquired a new stake in shares of Olin in the first quarter valued at approximately $32,000. Bessemer Group Inc. raised its holdings in shares of Olin by 712.7% during the third quarter. Bessemer Group Inc. now owns 1,341 shares of the specialty chemicals company’s stock valued at $34,000 after buying an additional 1,176 shares during the last quarter. Finally, Allworth Financial LP raised its holdings in shares of Olin by 114.0% during the third quarter. Allworth Financial LP now owns 1,740 shares of the specialty chemicals company’s stock valued at $43,000 after buying an additional 927 shares during the last quarter. 88.67% of the stock is currently owned by institutional investors and hedge funds.

Olin Trading Up 1.8%

Shares of Olin stock opened at $28.54 on Tuesday. Olin has a fifty-two week low of $17.66 and a fifty-two week high of $29.15. The firm has a market cap of $3.25 billion, a PE ratio of -75.10 and a beta of 1.56. The business’s fifty day moving average is $24.50 and its two-hundred day moving average is $23.02. The company has a quick ratio of 0.73, a current ratio of 1.21 and a debt-to-equity ratio of 1.45.

Olin (NYSE:OLN) last announced its quarterly earnings data on Thursday, January 29th. The specialty chemicals company reported ($0.58) EPS for the quarter, meeting analysts’ consensus estimates of ($0.58). The business had revenue of $1.67 billion during the quarter, compared to the consensus estimate of $1.61 billion. Olin had a negative return on equity of 0.48% and a negative net margin of 0.63%.The business’s revenue for the quarter was down .4% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.09 earnings per share. Analysts anticipate that Olin will post 1.38 earnings per share for the current year.

Olin Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, March 13th. Stockholders of record on Tuesday, March 3rd were paid a dividend of $0.20 per share. The ex-dividend date was Tuesday, March 3rd. This represents a $0.80 dividend on an annualized basis and a dividend yield of 2.8%. Olin’s dividend payout ratio (DPR) is currently -210.53%.

About Olin

Olin Corporation is a diversified manufacturer specializing in chemical products and ammunition. The company’s core business activities encompass the production and distribution of chlor-alkali products, epoxy resins and derivatives, and small-caliber ammunition under the Winchester brand. Olin’s chemical operations supply chlorine, caustic soda and related co-products to a wide range of end markets, including water treatment, pulp and paper, pharmaceuticals and general industrial applications.

In its Chlor Alkali Products & Vinyls segment, Olin operates multiple manufacturing facilities that produce chlorine and sodium hydroxide, along with vinyl chloride monomer and polyvinyl chloride (PVC) compounds.