Barclays Raises Olin (NYSE:OLN) Price Target to $59.00

Olin (NYSE:OLN) had its price target raised by Barclays from $57.00 to $59.00 in a research note published on Thursday morning, Benzinga reports. Barclays currently has an equal weight rating on the specialty chemicals company’s stock.

A number of other analysts have also weighed in on OLN. Deutsche Bank Aktiengesellschaft started coverage on Olin in a research note on Thursday, December 7th. They issued a hold rating and a $52.00 target price for the company. The Goldman Sachs Group raised their target price on Olin from $55.00 to $61.00 and gave the company a neutral rating in a research note on Tuesday, January 30th. Royal Bank of Canada raised their target price on Olin from $58.00 to $64.00 and gave the company an outperform rating in a research note on Monday, January 29th. Wells Fargo & Company raised their target price on Olin from $56.00 to $60.00 and gave the company an equal weight rating in a research note on Wednesday. Finally, KeyCorp raised their target price on Olin from $61.00 to $66.00 and gave the company an overweight rating in a research note on Tuesday, January 9th. Two equities research analysts have rated the stock with a sell rating, eight have assigned a hold rating and five have issued a buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of Hold and an average price target of $57.07.

Olin Stock Down 0.3 %

Shares of NYSE OLN opened at $58.66 on Thursday. The stock has a market cap of $7.02 billion, a PE ratio of 16.57, a PEG ratio of 0.32 and a beta of 1.44. The business has a fifty day moving average of $54.83 and a two-hundred day moving average of $50.94. Olin has a 52-week low of $41.71 and a 52-week high of $60.60. The company has a debt-to-equity ratio of 1.14, a quick ratio of 0.73 and a current ratio of 1.29.

Olin (NYSE:OLN) last issued its quarterly earnings data on Thursday, January 25th. The specialty chemicals company reported $0.30 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.20 by $0.10. Olin had a return on equity of 18.44% and a net margin of 6.74%. The company had revenue of $1.61 billion during the quarter, compared to analysts’ expectations of $1.50 billion. As a group, equities research analysts expect that Olin will post 3.75 earnings per share for the current fiscal year.

Olin Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, March 15th. Stockholders of record on Thursday, March 7th were given a dividend of $0.20 per share. The ex-dividend date of this dividend was Wednesday, March 6th. This represents a $0.80 annualized dividend and a dividend yield of 1.36%. Olin’s payout ratio is currently 22.60%.

Insider Transactions at Olin

In other news, CFO Todd A. Slater sold 63,250 shares of the business’s stock in a transaction dated Tuesday, January 30th. The stock was sold at an average price of $54.15, for a total transaction of $3,424,987.50. Following the completion of the transaction, the chief financial officer now directly owns 137,517 shares in the company, valued at approximately $7,446,545.55. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. In other news, CFO Todd A. Slater sold 63,250 shares of the business’s stock in a transaction dated Tuesday, January 30th. The stock was sold at an average price of $54.15, for a total transaction of $3,424,987.50. Following the completion of the transaction, the chief financial officer now directly owns 137,517 shares in the company, valued at approximately $7,446,545.55. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, VP Brett A. Flaugher sold 15,000 shares of the business’s stock in a transaction dated Monday, February 26th. The stock was sold at an average price of $52.46, for a total value of $786,900.00. Following the transaction, the vice president now owns 8,782 shares of the company’s stock, valued at $460,703.72. The disclosure for this sale can be found here. In the last ninety days, insiders sold 753,274 shares of company stock worth $40,434,124. 1.60% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Olin

Institutional investors have recently modified their holdings of the business. Quantbot Technologies LP lifted its holdings in shares of Olin by 153.2% during the 3rd quarter. Quantbot Technologies LP now owns 24,674 shares of the specialty chemicals company’s stock valued at $1,233,000 after purchasing an additional 14,928 shares in the last quarter. Coombe Bender & Co LLC lifted its holdings in shares of Olin by 20.8% during the 3rd quarter. Coombe Bender & Co LLC now owns 90,977 shares of the specialty chemicals company’s stock valued at $4,547,000 after purchasing an additional 15,645 shares in the last quarter. AdvisorShares Investments LLC bought a new stake in Olin in the 3rd quarter valued at approximately $361,000. Invesco Ltd. lifted its stake in Olin by 5.3% in the 3rd quarter. Invesco Ltd. now owns 1,132,733 shares of the specialty chemicals company’s stock valued at $56,614,000 after acquiring an additional 57,364 shares in the last quarter. Finally, Algert Global LLC lifted its stake in Olin by 346.3% in the 3rd quarter. Algert Global LLC now owns 21,510 shares of the specialty chemicals company’s stock valued at $1,075,000 after acquiring an additional 16,690 shares in the last quarter. Institutional investors own 88.67% of the company’s stock.

About Olin

Olin Corporation manufactures and distributes chemical products in the United States, Europe, Asia Pacific, Latin America, and Canada. It operates through three segments: Chlor Alkali Products and Vinyls; Epoxy; and Winchester. The Chlor Alkali Products and Vinyls segment offers chlorine and caustic soda, ethylene dichloride and vinyl chloride monomers, methyl chloride, methylene chloride, chloroform, carbon tetrachloride, perchloroethylene, hydrochloric acid, hydrogen, bleach products, potassium hydroxide, and chlorinated organics intermediates and solvents.