Brokerages Set Olin Corporation (NYSE:OLN) Price Target at $25.57

Olin Corporation (NYSE:OLN) has received a consensus rating of “Hold” from the sixteen research firms that are covering the stock, MarketBeat reports. Two research analysts have rated the stock with a sell recommendation, eleven have issued a hold recommendation, two have assigned a buy recommendation and one has assigned a strong buy recommendation to the company. The average 1-year price target among brokers that have issued a report on the stock in the last year is $25.7857.

Several research firms recently weighed in on OLN. UBS Group decreased their price objective on Olin from $23.00 to $22.00 and set a “neutral” rating for the company in a report on Tuesday, July 29th. KeyCorp decreased their price objective on Olin from $32.00 to $31.00 and set an “overweight” rating for the company in a report on Wednesday, July 30th. Wells Fargo & Company dropped their price objective on Olin from $22.00 to $21.00 and set an “equal weight” rating on the stock in a research report on Wednesday, July 30th. Citigroup downgraded Olin from a “buy” rating to a “neutral” rating and set a $25.00 price objective on the stock. in a research report on Thursday. Finally, Weiss Ratings reaffirmed a “sell (d+)” rating on shares of Olin in a research report on Saturday, September 27th.

Insiders Place Their Bets

In related news, VP Teresa M. Vermillion sold 6,000 shares of the firm’s stock in a transaction dated Wednesday, August 13th. The stock was sold at an average price of $21.11, for a total transaction of $126,660.00. Following the sale, the vice president owned 17,199 shares of the company’s stock, valued at $363,070.89. This trade represents a 25.86% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 1.60% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the business. Mirae Asset Global Investments Co. Ltd. acquired a new position in Olin during the 1st quarter valued at about $31,000. Fifth Third Bancorp increased its position in Olin by 160.5% during the 1st quarter. Fifth Third Bancorp now owns 1,206 shares of the specialty chemicals company’s stock valued at $29,000 after buying an additional 743 shares in the last quarter. Intech Investment Management LLC increased its position in Olin by 48.2% during the 1st quarter. Intech Investment Management LLC now owns 90,214 shares of the specialty chemicals company’s stock valued at $2,187,000 after buying an additional 29,344 shares in the last quarter. Envestnet Portfolio Solutions Inc. acquired a new position in Olin during the 1st quarter valued at about $206,000. Finally, Sequoia Financial Advisors LLC acquired a new position in Olin during the 1st quarter valued at about $247,000. 88.67% of the stock is owned by institutional investors and hedge funds.

Olin Stock Performance

OLN stock opened at $25.73 on Tuesday. The company has a debt-to-equity ratio of 1.50, a current ratio of 1.48 and a quick ratio of 0.88. The business has a 50-day moving average price of $22.73 and a 200 day moving average price of $21.73. The company has a market capitalization of $2.95 billion, a P/E ratio of -214.43 and a beta of 1.68. Olin has a 1-year low of $17.66 and a 1-year high of $48.48.

Olin (NYSE:OLN) last released its quarterly earnings data on Monday, July 28th. The specialty chemicals company reported $0.05 earnings per share for the quarter, missing the consensus estimate of $0.09 by ($0.04). The firm had revenue of $1.76 billion during the quarter, compared to the consensus estimate of $1.68 billion. Olin had a negative net margin of 0.21% and a negative return on equity of 0.13%. The business’s revenue was up 7.0% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.62 earnings per share. As a group, equities research analysts forecast that Olin will post 1.38 EPS for the current fiscal year.

Olin Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, September 12th. Investors of record on Thursday, August 28th were given a dividend of $0.20 per share. The ex-dividend date of this dividend was Thursday, August 28th. This represents a $0.80 dividend on an annualized basis and a yield of 3.1%. Olin’s dividend payout ratio (DPR) is presently -666.67%.

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.