Olin (NYSE:OLN) Price Target Raised to $19.00

Olin (NYSE:OLN) had its target price lifted by Royal Bank Of Canada from $16.00 to $19.00 in a research note released on Monday,Benzinga reports. They currently have a sector perform rating on the specialty chemicals company’s stock.

Other research analysts have also recently issued reports about the stock. Weiss Ratings reissued a “sell (d)” rating on shares of Olin in a report on Wednesday, August 19th. Citigroup lowered their price objective on Olin from $19.00 to $17.00 and set a “neutral” rating on the stock in a report on Wednesday, September 30th. Deutsche Bank Aktiengesellschaft cut their target price on Olin from $30.00 to $20.00 and set a “hold” rating for the company in a research note on Tuesday, August 25th. Barclays began coverage on Olin in a report on Monday, October 12th. They issued an “equal weight” rating and a $18.00 price target for the company. Finally, KeyCorp assumed coverage on Olin in a research note on Friday, September 11th. They issued an “overweight” rating and a $26.00 price target on the stock. One research analyst has rated the stock with a Buy rating, twelve have assigned a Hold rating and three have issued a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Reduce” and a consensus target price of $20.64.

Olin Price Performance

NYSE:OLN opened at $18.08 on Monday. The company has a current ratio of 1.45, a quick ratio of 0.88 and a debt-to-equity ratio of 1.75. The firm’s fifty day moving average price is $16.45 and its 200 day moving average price is $22.19. Olin has a 1-year low of $14.64 and a 1-year high of $30.46.

Olin (NYSE:OLN) last released its earnings results on Thursday, October 29th. The specialty chemicals company reported $0.13 EPS for the quarter, missing the consensus estimate of $0.15 by ($0.02). The firm had revenue of $1.75 billion during the quarter, compared to analyst estimates of $1.83 billion. Olin had a negative return on equity of 6.63% and a negative net margin of 2.49%. The firm’s revenue was up 2.0% on a year-over-year basis. During the same quarter last year, the business posted $0.37 EPS. Sell-side analysts anticipate that Olin will post -0.83 earnings per share for the current fiscal year.

Olin Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, September 11th. Shareholders of record on Thursday, August 27th were issued a dividend of $0.20 per share. This represents a $0.80 dividend on an annualized basis and a yield of 4.4%. The ex-dividend date was Thursday, August 27th. Olin’s dividend payout ratio is -54.42%.

Hedge Funds Weigh In On Olin

A number of institutional investors have recently made changes to their positions in OLN. Oregon Public Employees Retirement Fund boosted its position in Olin by 2.2% during the first quarter. Oregon Public Employees Retirement Fund now owns 23,302 shares of the specialty chemicals company’s stock worth $693,000 after acquiring an additional 500 shares during the last quarter. First Citizens Bank & Trust Co. lifted its stake in shares of 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 valued at $928,000 after purchasing an additional 609 shares in the last quarter. Rockefeller Capital Management L.P. lifted its position 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 in the last quarter. Cowa LLC boosted its position in Olin by 8.1% during the 3rd quarter. Cowa LLC now owns 11,919 shares of the specialty chemicals company’s stock worth $185,000 after purchasing an additional 890 shares during the period. Finally, ARGA Investment Management LP grew its stake 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 valued at $1,823,000 after buying an additional 1,502 shares in the last quarter. 88.67% of the stock is owned by institutional investors and hedge funds.

Olin Company Profile

Olin Corporation (NYSE: OLN) is a global manufacturer of chemicals and ammunition. The company operates through three primary businesses: Chlor Alkali Products and Vinyls, Epoxy, and Winchester.

Its Chlor Alkali Products and Vinyls business produces chlorine, caustic soda, hydrochloric acid, bleach products, hydrogen, chlorinated organic chemicals and other related materials used in industrial, water-treatment, construction and consumer applications. Olin’s Epoxy business manufactures epoxy resins, intermediates and other specialty materials used in coatings, adhesives, composites, electronics and infrastructure-related applications.

Through its Winchester business, Olin produces and distributes sporting ammunition, reloading components, and small-caliber ammunition for law enforcement and military customers.