Olin Corporation (NYSE:OLN) Receives $27.77 Consensus Target Price from Brokerages

Shares of Olin Corporation (NYSE:OLN) have earned a consensus rating of “Hold” from the seventeen analysts that are presently covering the company, Marketbeat.com reports. Two investment analysts have rated the stock with a sell rating, eleven have issued a hold rating, three have given a buy rating and one has given a strong buy rating to the company. The average twelve-month price objective among brokers that have updated their coverage on the stock in the last year is $27.7857.

OLN has been the topic of a number of research analyst reports. BMO Capital Markets lowered their price objective on shares of Olin from $25.00 to $24.00 and set a “market perform” rating on the stock in a research report on Tuesday, February 3rd. Morgan Stanley increased their price objective on shares of Olin from $18.00 to $22.00 and gave the company an “underweight” rating in a research report on Monday, May 11th. Royal Bank Of Canada set a $30.00 price objective on shares of Olin and gave the company a “sector perform” rating in a research report on Friday, April 10th. UBS Group increased their price objective on shares of Olin from $29.00 to $31.00 and gave the company a “neutral” rating in a research report on Wednesday. Finally, Truist Financial increased their price objective on shares of Olin from $20.00 to $26.00 and gave the company a “hold” rating in a research report on Monday, May 11th.

Insider Buying and Selling

In other Olin news, VP Angela M. Castle sold 2,379 shares of the company’s stock in a transaction that occurred on Tuesday, February 24th. The shares were sold at an average price of $24.25, for a total transaction of $57,690.75. Following the completion of the sale, the vice president directly owned 1,528 shares of the company’s stock, valued at approximately $37,054. This represents a 60.89% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 1.60% of the company’s stock.

Institutional Trading of Olin

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Strategic Advocates LLC purchased a new stake in Olin during the third quarter valued at approximately $25,000. Rockefeller Capital Management L.P. increased its holdings in Olin by 115.2% during 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 buying an additional 659 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. purchased a new stake in Olin during the first quarter valued at approximately $32,000. Bessemer Group Inc. increased its holdings in 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 increased its holdings in 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 owned by hedge funds and other institutional investors.

Olin Stock Down 0.0%

Shares of Olin stock opened at $26.78 on Wednesday. The company has a market cap of $3.05 billion, a price-to-earnings ratio of -23.91 and a beta of 1.21. The company’s 50 day moving average is $27.15 and its 200 day moving average is $23.85. Olin has a twelve month low of $18.08 and a twelve month high of $30.46. The company has a quick ratio of 0.82, a current ratio of 1.36 and a debt-to-equity ratio of 1.73.

Olin Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, June 12th. Shareholders of record on Thursday, May 14th will be issued a dividend of $0.20 per share. This represents a $0.80 dividend on an annualized basis and a yield of 3.0%. The ex-dividend date of this dividend is Thursday, May 14th. Olin’s dividend payout ratio is currently -71.43%.

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.