Brokerages Set Olin Corporation (NYSE:OLN) Price Target at $23.20

Olin Corporation (NYSE:OLN) has been assigned a consensus rating of “Hold” from the eighteen research firms that are presently covering the company, MarketBeat.com reports. Three investment analysts have rated the stock with a sell rating, twelve have issued a hold rating, two have assigned a buy rating and one has given a strong buy rating to the company. The average 1-year price objective among brokers that have issued a report on the stock in the last year is $23.20.

Several research analysts have recently weighed in on OLN shares. Zacks Research lowered shares of Olin from a “hold” rating to a “strong sell” rating in a research note on Thursday, January 29th. Citigroup dropped their price objective on Olin from $24.00 to $21.00 and set a “neutral” rating on the stock in a research note on Tuesday, February 3rd. Royal Bank Of Canada reduced their target price on Olin from $24.00 to $21.00 and set a “sector perform” rating for the company in a research note on Monday, February 2nd. Wall Street Zen cut Olin from a “hold” rating to a “sell” rating in a research note on Saturday, January 10th. Finally, Morgan Stanley cut their price target on Olin from $20.00 to $18.00 and set an “underweight” rating for the company in a report on Monday, February 2nd.

Olin Stock Performance

Shares of NYSE OLN opened at $25.35 on Friday. The company has a debt-to-equity ratio of 1.45, a quick ratio of 0.73 and a current ratio of 1.21. The stock has a 50 day moving average price of $23.19 and a 200 day moving average price of $22.70. The stock has a market capitalization of $2.88 billion, a PE ratio of -66.72 and a beta of 1.56. Olin has a 52 week low of $17.66 and a 52 week high of $27.35.

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

Olin Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, March 13th. Stockholders of record on Tuesday, March 3rd will be paid a dividend of $0.20 per share. This represents a $0.80 dividend on an annualized basis and a dividend yield of 3.2%. The ex-dividend date is Tuesday, March 3rd. Olin’s dividend payout ratio (DPR) is currently -210.53%.

Insider Buying and Selling

In other Olin news, VP R Nichole Sumner sold 4,750 shares of the stock in a transaction on Tuesday, February 3rd. The stock was sold at an average price of $22.49, for a total transaction of $106,827.50. Following the transaction, the vice president owned 24,771 shares in the company, valued at $557,099.79. This trade represents a 16.09% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CFO Todd A. Slater sold 92,250 shares of Olin stock in a transaction on 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 sale, the chief financial officer directly owned 44,291 shares of the company’s stock, valued at $995,661.68. This represents a 67.56% decrease in their position. The SEC filing for this sale provides additional information. In the last 90 days, insiders sold 99,379 shares of company stock valued at $2,238,298. Company insiders own 1.70% of the company’s stock.

Institutional Trading of Olin

A number of institutional investors have recently modified their holdings of OLN. Strategic Advocates LLC bought a new position in shares of Olin in the third quarter worth about $25,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. acquired a new position in Olin during the 1st quarter worth approximately $32,000. Bessemer Group Inc. lifted its stake in Olin by 712.7% in the 3rd quarter. Bessemer Group Inc. now owns 1,341 shares of the specialty chemicals company’s stock valued at $34,000 after purchasing an additional 1,176 shares during the last quarter. Evelyn Partners Investment Management LLP lifted its stake in Olin by 6,360.0% in the 2nd quarter. Evelyn Partners Investment Management LLP now owns 1,615 shares of the specialty chemicals company’s stock valued at $32,000 after purchasing an additional 1,590 shares during the last quarter. Finally, Allworth Financial LP boosted its position in Olin by 114.0% in 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 in the last quarter. 88.67% of the stock is currently owned by institutional investors.

Olin Company Profile

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.