Olin (NYSE:OLN) Price Target Raised to $17.00

Olin (NYSE:OLN) had its price target upped by Wells Fargo & Company from $16.00 to $17.00 in a research report released on Tuesday,Benzinga reports. They currently have an equal weight rating on the specialty chemicals company’s stock.

OLN has been the topic of a number of other research reports. The Goldman Sachs Group set a $18.00 target price on Olin in a research note on Wednesday, September 30th. UBS Group dropped their price objective on Olin from $21.00 to $18.00 and set a “neutral” rating for the company in a report on Monday, October 5th. Wall Street Zen upgraded Olin from a “strong sell” rating to a “sell” rating in a report on Saturday, October 31st. Royal Bank Of Canada upped their price objective on Olin from $16.00 to $19.00 and gave the company a “sector perform” rating in a research report on Monday. Finally, Citigroup increased their target price on Olin from $17.00 to $19.00 and gave the stock a “neutral” rating in a research note on Monday. One equities research analyst has rated the stock with a Buy rating, twelve have given a Hold rating and three have given a Sell rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Reduce” and an average price target of $20.64.

Olin Trading Down 0.2%

OLN stock opened at $18.04 on Tuesday. Olin has a twelve month low of $14.64 and a twelve month high of $30.46. The stock has a market capitalization of $2.06 billion, a price-to-earnings ratio of -12.27 and a beta of 1.14. The company has a quick ratio of 0.88, a current ratio of 1.45 and a debt-to-equity ratio of 1.75. The firm’s fifty day simple moving average is $16.46 and its two-hundred day simple moving average is $22.16.

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

Olin Dividend Announcement

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

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Fifth Third Bancorp lifted its position in shares of Olin by 9.2% during the third quarter. Fifth Third Bancorp now owns 101,189 shares of the specialty chemicals company’s stock valued at $1,568,000 after buying an additional 8,484 shares during the last quarter. Fulcrum Asset Management LLP acquired a new stake in shares of Olin in the 3rd quarter worth $577,000. 180 Wealth Advisors LLC acquired a new stake in Olin in the third quarter worth about $179,000. Cowa LLC boosted its stake in Olin by 8.1% in 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 in the last quarter. Finally, Chicago Partners Investment Group LLC lifted its stake in shares of Olin by 26.1% during the third quarter. Chicago Partners Investment Group LLC now owns 15,832 shares of the specialty chemicals company’s stock worth $248,000 after buying an additional 3,275 shares during the period. 88.67% of the stock is currently owned by institutional investors.

About Olin

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.