Olin Co. (NYSE:OLN) Receives $38.38 Average Price Target from Analysts

Olin Co. (NYSE:OLN) has received an average recommendation of “Hold” from the sixteen brokerages that are presently covering the company, MarketBeat.com reports. One investment analyst has rated the stock with a sell rating, eleven have assigned a hold rating and four have given a buy rating to the company. The average 1 year target price among analysts that have issued a report on the stock in the last year is $38.38.

A number of equities research analysts have commented on the company. Royal Bank of Canada downgraded Olin from an “outperform” rating to a “sector perform” rating and reduced their target price for the company from $45.00 to $30.00 in a report on Tuesday, February 4th. Wells Fargo & Company reissued an “equal weight” rating on shares of Olin in a report on Monday, February 3rd. Morgan Stanley dropped their target price on shares of Olin from $31.00 to $28.00 and set an “underweight” rating for the company in a report on Tuesday, February 4th. Truist Financial decreased their price target on Olin from $38.00 to $32.00 and set a “hold” rating on the stock in a research note on Monday, February 3rd. Finally, UBS Group set a $28.00 price objective on Olin in a research note on Thursday, February 27th.

Insider Transactions at Olin

In other news, CEO Kenneth Todd Lane bought 7,250 shares of the firm’s stock in a transaction that occurred on Tuesday, February 4th. The shares were purchased at an average price of $28.06 per share, for a total transaction of $203,435.00. Following the completion of the transaction, the chief executive officer now owns 7,250 shares in the company, valued at $203,435. The trade was a ? increase in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Insiders own 1.60% of the company’s stock.

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in OLN. Farther Finance Advisors LLC increased its stake in Olin by 88.2% in the third quarter. Farther Finance Advisors LLC now owns 589 shares of the specialty chemicals company’s stock valued at $28,000 after purchasing an additional 276 shares during the last quarter. Covestor Ltd increased its stake in shares of Olin by 357.5% during the 3rd quarter. Covestor Ltd now owns 915 shares of the specialty chemicals company’s stock valued at $44,000 after acquiring an additional 715 shares during the last quarter. Spire Wealth Management increased its stake in shares of Olin by 246.8% during the 4th quarter. Spire Wealth Management now owns 1,616 shares of the specialty chemicals company’s stock valued at $55,000 after acquiring an additional 1,150 shares during the last quarter. CoreFirst Bank & Trust acquired a new stake in shares of Olin in the fourth quarter worth approximately $66,000. Finally, Jones Financial Companies Lllp grew its holdings in Olin by 59.9% in the fourth quarter. Jones Financial Companies Lllp now owns 2,431 shares of the specialty chemicals company’s stock valued at $82,000 after purchasing an additional 911 shares during the period. Hedge funds and other institutional investors own 88.67% of the company’s stock.

Olin Trading Up 0.7 %

Shares of Olin stock opened at $25.09 on Friday. The company has a quick ratio of 0.77, a current ratio of 1.27 and a debt-to-equity ratio of 1.32. The firm has a market cap of $2.90 billion, a price-to-earnings ratio of 27.88 and a beta of 1.61. Olin has a 52-week low of $22.98 and a 52-week high of $60.60. The company’s 50-day simple moving average is $28.53 and its 200-day simple moving average is $37.05.

Olin (NYSE:OLN) last issued its earnings results on Thursday, January 30th. The specialty chemicals company reported $0.09 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.01) by $0.10. Olin had a return on equity of 5.10% and a net margin of 1.66%. As a group, equities research analysts anticipate that Olin will post 1.38 earnings per share for the current year.

Olin Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, March 14th. Investors of record on Thursday, March 6th were paid a $0.20 dividend. This represents a $0.80 annualized dividend and a yield of 3.19%. The ex-dividend date was Thursday, March 6th. Olin’s payout ratio is 88.89%.

Olin announced that its board has initiated a stock buyback program on Thursday, December 12th that permits the company to buyback $2.00 billion in outstanding shares. This buyback authorization permits the specialty chemicals company to purchase up to 45% of its shares through open market purchases. Shares buyback programs are often a sign that the company’s board of directors believes its shares are undervalued.

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.