Brokerages Set Olin Corporation (NYSE:OLN) Target Price at $28.08

Shares of Olin Corporation (NYSE:OLN) have received an average rating of “Hold” from the sixteen research firms that are covering the stock, MarketBeat reports. Two equities research analysts have rated the stock with a sell recommendation, ten have assigned a hold recommendation, three have assigned a buy recommendation and one has assigned a strong buy recommendation to the company. The average twelve-month price objective among analysts that have issued ratings on the stock in the last year is $28.0769.

OLN has been the topic of a number of recent analyst reports. Weiss Ratings reiterated a “sell (d)” rating on shares of Olin in a report on Friday, May 22nd. UBS Group upped their price objective on Olin from $29.00 to $31.00 and gave the company a “neutral” rating in a report on Wednesday, May 13th. Citigroup upped their price objective on Olin from $26.00 to $30.00 and gave the company a “neutral” rating in a report on Thursday, April 16th. JPMorgan Chase & Co. upped their price objective on Olin from $20.00 to $26.00 and gave the company a “neutral” rating in a report on Friday, May 15th. Finally, Mizuho upped their price objective on Olin from $24.00 to $26.00 and gave the company a “neutral” rating in a report on Tuesday, March 31st.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in the business. Hotchkis & Wiley Capital Management LLC lifted its holdings in Olin by 5.5% in the third quarter. Hotchkis & Wiley Capital Management LLC now owns 12,690,488 shares of the specialty chemicals company’s stock valued at $317,135,000 after acquiring an additional 661,730 shares during the last quarter. Dimensional Fund Advisors LP lifted its stake in Olin by 22.4% during the first quarter. Dimensional Fund Advisors LP now owns 5,627,997 shares of the specialty chemicals company’s stock worth $167,311,000 after purchasing an additional 1,031,498 shares in the last quarter. State Street Corp lifted its stake in Olin by 1.1% during the second quarter. State Street Corp now owns 4,830,406 shares of the specialty chemicals company’s stock worth $97,043,000 after purchasing an additional 50,309 shares in the last quarter. Pzena Investment Management LLC lifted its stake in Olin by 17.5% during the fourth quarter. Pzena Investment Management LLC now owns 4,507,913 shares of the specialty chemicals company’s stock worth $93,900,000 after purchasing an additional 671,250 shares in the last quarter. Finally, Orbis Allan Gray Ltd lifted its stake in Olin by 448.9% during the fourth quarter. Orbis Allan Gray Ltd now owns 3,804,561 shares of the specialty chemicals company’s stock worth $79,249,000 after purchasing an additional 3,111,393 shares in the last quarter. 88.67% of the stock is currently owned by institutional investors and hedge funds.

Olin Price Performance

OLN stock opened at $25.10 on Friday. The company has a debt-to-equity ratio of 1.73, a current ratio of 1.36 and a quick ratio of 0.82. The business has a 50 day simple moving average of $26.93 and a 200-day simple moving average of $24.62. The firm has a market capitalization of $2.86 billion, a PE ratio of -22.41 and a beta of 1.17. Olin has a 1 year low of $18.08 and a 1 year high of $30.46.

Olin Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, June 12th. Investors of record on Thursday, May 14th were issued a $0.20 dividend. The ex-dividend date was Thursday, May 14th. This represents a $0.80 dividend on an annualized basis and a yield of 3.2%. Olin’s dividend payout ratio is currently -71.43%.

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.