Olin Corporation (NYSE:OLN) Given Consensus Recommendation of “Hold” by Brokerages

Olin Corporation (NYSE:OLN) has received an average rating of “Hold” from the seventeen research firms that are covering the stock, MarketBeat Ratings reports. Two research analysts have rated the stock with a sell recommendation, eleven have given a hold recommendation, three have issued a buy recommendation and one has assigned a strong buy recommendation to the company. The average 12-month price target among brokers that have covered the stock in the last year is $25.9286.

Several research firms recently weighed in on OLN. Morgan Stanley dropped their price objective on Olin from $20.00 to $18.00 and set an “underweight” rating for the company in a research note on Monday, February 2nd. Wells Fargo & Company raised Olin from an “equal weight” rating to an “overweight” rating and raised their price objective for the company from $25.00 to $35.00 in a research note on Monday, April 6th. Truist Financial dropped their price objective on Olin from $23.00 to $20.00 and set a “hold” rating for the company in a research note on Monday, February 2nd. Royal Bank Of Canada set a $30.00 price objective on Olin and gave the company a “sector perform” rating in a research note on Friday, April 10th. Finally, Mizuho raised their price objective on Olin from $24.00 to $26.00 and gave the company a “neutral” rating in a research note on Tuesday, March 31st.

Olin Stock Down 1.1%

OLN opened at $26.87 on Friday. The company has a debt-to-equity ratio of 1.45, a current ratio of 1.21 and a quick ratio of 0.73. The business has a 50 day simple moving average of $26.31 and a 200-day simple moving average of $23.49. The stock has a market capitalization of $3.06 billion, a P/E ratio of -70.71 and a beta of 1.37. Olin has a 12 month low of $18.08 and a 12 month high of $30.46.

Olin (NYSE:OLN) last posted its quarterly earnings results 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 business had revenue of $1.67 billion during the quarter, compared to analysts’ expectations of $1.61 billion. During the same period last year, the firm earned $0.09 EPS. The company’s quarterly revenue was down .4% compared to the same quarter last year. On average, equities analysts anticipate that Olin will post -0.86 earnings per share for the current fiscal year.

Olin Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, March 13th. Investors of record on Tuesday, March 3rd were paid a $0.20 dividend. This represents a $0.80 annualized dividend and a yield of 3.0%. The ex-dividend date of this dividend was Tuesday, March 3rd. Olin’s dividend payout ratio (DPR) is presently -210.53%.

Insider Activity at Olin

In related news, CFO Todd A. Slater sold 92,250 shares of the firm’s stock in a transaction that occurred 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 completion of the transaction, the chief financial officer directly owned 44,291 shares of the company’s stock, valued at $995,661.68. This trade represents a 67.56% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, VP Angela M. Castle sold 2,379 shares of the firm’s stock in a transaction on Tuesday, February 24th. The stock was sold at an average price of $24.25, for a total value of $57,690.75. Following the transaction, the vice president directly owned 1,528 shares of the company’s stock, valued at $37,054. The trade was a 60.89% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold 99,379 shares of company stock valued at $2,238,298 in the last ninety days. Corporate insiders own 1.60% of the company’s stock.

Hedge Funds Weigh In On Olin

Several hedge funds have recently bought and sold shares of OLN. Royal Bank of Canada increased its position in Olin by 20.2% during the first quarter. Royal Bank of Canada now owns 85,198 shares of the specialty chemicals company’s stock worth $2,066,000 after buying an additional 14,344 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. purchased a new position in Olin during the first quarter worth $32,000. Jones Financial Companies Lllp increased its position in Olin by 467.9% during the first quarter. Jones Financial Companies Lllp now owns 13,805 shares of the specialty chemicals company’s stock worth $335,000 after buying an additional 11,374 shares in the last quarter. Goldman Sachs Group Inc. increased its position in Olin by 57.6% during the first quarter. Goldman Sachs Group Inc. now owns 588,602 shares of the specialty chemicals company’s stock worth $14,268,000 after buying an additional 215,235 shares in the last quarter. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its position in Olin by 6.7% during the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 317,472 shares of the specialty chemicals company’s stock worth $7,696,000 after buying an additional 20,047 shares in the last quarter. Hedge funds and other institutional investors own 88.67% of the company’s stock.

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.