Olin Co. (NYSE:OLN) Receives $59.33 Consensus PT from Brokerages

Shares of Olin Co. (NYSE:OLN) have earned an average rating of “Hold” from the fourteen ratings firms that are currently covering the stock, MarketBeat.com reports. Two research analysts have rated the stock with a sell rating, seven have assigned a hold rating and five have issued a buy rating on the company. The average 12 month target price among brokerages that have updated their coverage on the stock in the last year is $59.33.

Several analysts have recently issued reports on OLN shares. Royal Bank of Canada lifted their target price on shares of Olin from $64.00 to $69.00 and gave the company an “outperform” rating in a research report on Friday, April 19th. The Goldman Sachs Group boosted their price target on shares of Olin from $55.00 to $61.00 and gave the stock a “neutral” rating in a research report on Tuesday, January 30th. Citigroup boosted their price target on shares of Olin from $63.00 to $67.00 and gave the stock a “buy” rating in a research report on Wednesday, April 10th. Stifel Nicolaus boosted their price target on shares of Olin from $65.00 to $66.00 and gave the stock a “buy” rating in a research report on Monday, January 29th. Finally, UBS Group boosted their price target on shares of Olin from $56.00 to $58.00 and gave the stock a “neutral” rating in a research report on Friday, January 26th.

Insiders Place Their Bets

In other Olin news, CEO Scott Mcdougald Sutton sold 48,896 shares of Olin stock in a transaction dated Tuesday, February 27th. The shares were sold at an average price of $52.39, for a total transaction of $2,561,661.44. Following the transaction, the chief executive officer now directly owns 90,327 shares of the company’s stock, valued at $4,732,231.53. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In other news, CFO Todd A. Slater sold 63,250 shares of the business’s stock in a transaction that occurred on Tuesday, January 30th. The shares were sold at an average price of $54.15, for a total value of $3,424,987.50. Following the sale, the chief financial officer now directly owns 137,517 shares of the company’s stock, valued at approximately $7,446,545.55. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Scott Mcdougald Sutton sold 48,896 shares of the business’s stock in a transaction that occurred on Tuesday, February 27th. The shares were sold at an average price of $52.39, for a total transaction of $2,561,661.44. Following the completion of the sale, the chief executive officer now directly owns 90,327 shares in the company, valued at $4,732,231.53. The disclosure for this sale can be found here. Insiders have sold 753,274 shares of company stock valued at $40,434,124 over the last ninety days. Company insiders own 1.60% of the company’s stock.

Institutional Investors Weigh In On Olin

A number of institutional investors and hedge funds have recently made changes to their positions in the stock. Fifth Third Bancorp raised its stake in shares of Olin by 30.0% in the 1st quarter. Fifth Third Bancorp now owns 858 shares of the specialty chemicals company’s stock valued at $50,000 after acquiring an additional 198 shares during the period. Louisiana State Employees Retirement System raised its stake in shares of Olin by 0.6% in the 1st quarter. Louisiana State Employees Retirement System now owns 34,600 shares of the specialty chemicals company’s stock valued at $2,034,000 after acquiring an additional 200 shares during the period. Ritholtz Wealth Management raised its stake in shares of Olin by 1.5% in the 4th quarter. Ritholtz Wealth Management now owns 16,389 shares of the specialty chemicals company’s stock valued at $884,000 after acquiring an additional 238 shares during the period. Financial Advocates Investment Management raised its stake in shares of Olin by 5.5% in the 4th quarter. Financial Advocates Investment Management now owns 5,086 shares of the specialty chemicals company’s stock valued at $274,000 after acquiring an additional 266 shares during the period. Finally, Covestor Ltd increased its stake in Olin by 76.7% during the 3rd quarter. Covestor Ltd now owns 659 shares of the specialty chemicals company’s stock worth $33,000 after buying an additional 286 shares during the period. 88.67% of the stock is owned by hedge funds and other institutional investors.

Olin Stock Down 0.5 %

Shares of NYSE OLN opened at $52.81 on Tuesday. The company’s 50-day simple moving average is $55.61 and its 200-day simple moving average is $51.59. Olin has a 52-week low of $41.71 and a 52-week high of $60.60. The firm has a market cap of $6.32 billion, a price-to-earnings ratio of 14.92, a price-to-earnings-growth ratio of 0.29 and a beta of 1.44. The company has a quick ratio of 0.73, a current ratio of 1.29 and a debt-to-equity ratio of 1.14.

Olin (NYSE:OLN) last announced its earnings results on Thursday, January 25th. The specialty chemicals company reported $0.30 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.20 by $0.10. Olin had a net margin of 6.74% and a return on equity of 18.44%. The business had revenue of $1.61 billion for the quarter, compared to analyst estimates of $1.50 billion. Equities analysts predict that Olin will post 3.75 EPS for the current fiscal year.

Olin Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, March 15th. Shareholders of record on Thursday, March 7th were paid a dividend of $0.20 per share. This represents a $0.80 dividend on an annualized basis and a yield of 1.51%. The ex-dividend date of this dividend was Wednesday, March 6th. Olin’s dividend payout ratio (DPR) is presently 22.60%.

Olin Company Profile

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.