Olin Corporation (NYSE:OLN) Stock Has Average Target Price of $20.92 According to Analysts

Olin Corporation (NYSE:OLN) has earned an average rating of “Reduce” from the sixteen analysts that are currently covering the firm, MarketBeat reports. Three research analysts have rated the stock with a sell rating, twelve have issued a hold rating and one has 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 $20.43.

Several equities research analysts have recently commented on OLN shares. BMO Capital Markets decreased their target price on Olin from $30.00 to $25.00 and set a “market perform” rating on the stock in a report on Monday, July 6th. Royal Bank Of Canada reduced their price target on Olin from $20.00 to $16.00 and set a “sector perform” rating for the company in a research report on Tuesday. Truist Financial decreased their price objective on Olin from $24.00 to $20.00 and set a “hold” rating on the stock in a research note on Monday, August 3rd. Barclays started coverage on Olin in a research note on Monday. They set an “equal weight” rating and a $18.00 price objective for the company. Finally, UBS Group decreased their target price on shares of Olin from $21.00 to $18.00 and set a “neutral” rating on the stock in a research note on Monday, October 5th.

Hedge Funds Weigh In On Olin

A number of hedge funds have recently made changes to their positions in OLN. Values First Advisors Inc. grew its position in shares of Olin by 3.4% during the first quarter. Values First Advisors Inc. now owns 12,909 shares of the specialty chemicals company’s stock worth $384,000 after purchasing an additional 425 shares in the last quarter. Oregon Public Employees Retirement Fund boosted its stake in Olin by 2.2% in the 1st quarter. Oregon Public Employees Retirement Fund now owns 23,302 shares of the specialty chemicals company’s stock worth $693,000 after purchasing an additional 500 shares during the period. First Citizens Bank & Trust Co. boosted its stake in Olin by 2.0% in the 1st quarter. First Citizens Bank & Trust Co. now owns 31,230 shares of the specialty chemicals company’s stock worth $928,000 after purchasing an additional 609 shares during the period. Rockefeller Capital Management L.P. raised its position in shares of 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. Finally, ARGA Investment Management LP lifted its holdings in shares of Olin by 2.5% in the first quarter. ARGA Investment Management LP now owns 61,315 shares of the specialty chemicals company’s stock worth $1,823,000 after buying an additional 1,502 shares in the last quarter. Institutional investors own 88.67% of the company’s stock.

Olin Stock Performance

NYSE OLN traded up $0.07 during trading hours on Friday, hitting $15.62. The company’s stock had a trading volume of 3,785,695 shares, compared to its average volume of 4,233,829. Olin has a 12 month low of $14.64 and a 12 month high of $30.46. The company’s 50 day simple moving average is $17.00 and its two-hundred day simple moving average is $21.92. The company has a market cap of $1.78 billion, a P/E ratio of -12.70 and a beta of 1.23. The company has a debt-to-equity ratio of 1.77, a current ratio of 1.42 and a quick ratio of 0.87.

Olin (NYSE:OLN) last posted its earnings results on Thursday, July 30th. The specialty chemicals company reported ($0.12) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.13 by ($0.25). The company had revenue of $1.74 billion for the quarter, compared to the consensus estimate of $1.81 billion. Olin had a negative net margin of 2.08% and a negative return on equity of 4.76%. Olin’s revenue was down .9% on a year-over-year basis. During the same quarter in the prior year, the company posted ($0.01) EPS. As a group, sell-side analysts expect that Olin will post -0.80 EPS for the current fiscal year.

Olin Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, September 11th. Shareholders of record on Thursday, August 27th were paid a $0.20 dividend. This represents a $0.80 dividend on an annualized basis and a yield of 5.1%. The ex-dividend date was Thursday, August 27th. Olin’s dividend payout ratio is presently -65.04%.

About Olin

Olin Corporation is a global manufacturer of chemical products and ammunition. The company operates through its Chlor Alkali Products and Vinyls, Epoxy, and Winchester businesses, serving customers in a range of industrial, commercial, and consumer markets.

Olin’s Chlor Alkali Products and Vinyls business produces chlorine, caustic soda, hydrochloric acid, hydrogen, bleach products, chlorinated organic chemicals, and related materials used in water treatment, construction, pulp and paper, energy, and other manufacturing applications.