Olin Corporation (NYSE:OLN) Stock Has Average Price Target of $20.92

Olin Corporation (NYSE:OLN) has received a consensus recommendation of “Reduce” from the fifteen analysts that are covering the firm, Marketbeat.com reports. Three analysts have rated the stock with a sell rating, eleven have given a hold rating and one has issued a buy rating on the company. The average 1-year price target among analysts that have covered the stock in the last year is $20.71.

OLN has been the topic of several recent analyst reports. Weiss Ratings reissued a “sell (d)” rating on shares of Olin in a research note on Wednesday, August 19th. The Goldman Sachs Group set a $18.00 price target on Olin in a report on Wednesday, September 30th. Deutsche Bank Aktiengesellschaft reduced their price objective on shares of Olin from $30.00 to $20.00 and set a “hold” rating for the company in a research report on Tuesday, August 25th. Wall Street Zen lowered shares of Olin from a “sell” rating to a “strong sell” rating in a research note on Saturday, August 8th. Finally, UBS Group dropped their target price on shares of Olin from $21.00 to $18.00 and set a “neutral” rating on the stock in a research report on Monday, October 5th.

Institutional Investors Weigh In On Olin

Several hedge funds and other institutional investors have recently bought and sold shares of OLN. Rockefeller Capital Management L.P. lifted its holdings in shares of Olin by 115.2% in the 4th quarter. Rockefeller Capital Management L.P. now owns 1,231 shares of the specialty chemicals company’s stock worth $26,000 after purchasing an additional 659 shares in the last quarter. Sunbelt Securities Inc. bought a new stake in Olin during the 1st quarter valued at $45,000. Nykredit A S bought a new stake in Olin during the 2nd quarter valued at $59,000. Nalls Sherbakoff Group LLC bought a new stake in Olin during the 4th quarter valued at $66,000. Finally, IFP Advisors Inc raised its holdings in Olin by 118.9% during the second quarter. IFP Advisors Inc now owns 3,163 shares of the specialty chemicals company’s stock worth $63,000 after buying an additional 1,718 shares during the last quarter. 88.67% of the stock is owned by institutional investors.

Olin Stock Performance

OLN stock opened at $14.72 on Friday. The firm has a market cap of $1.68 billion, a PE ratio of -11.97 and a beta of 1.23. The company has a current ratio of 1.42, a quick ratio of 0.87 and a debt-to-equity ratio of 1.77. The stock has a 50-day moving average price of $17.28 and a 200-day moving average price of $22.25. Olin has a 1-year low of $14.65 and a 1-year high of $30.46.

Olin (NYSE:OLN) last announced its earnings results on Thursday, July 30th. The specialty chemicals company reported ($0.12) EPS for the quarter, missing the consensus estimate of $0.13 by ($0.25). Olin had a negative net margin of 2.08% and a negative return on equity of 4.76%. The business had revenue of $1.74 billion for the quarter, compared to the consensus estimate of $1.81 billion. During the same quarter in the previous year, the company earned ($0.01) EPS. The firm’s revenue for the quarter was down .9% on a year-over-year basis. As a group, equities research analysts expect that Olin will post -0.68 earnings per share for the current year.

Olin Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, September 11th. Shareholders of record on Thursday, August 27th were issued a $0.20 dividend. This represents a $0.80 dividend on an annualized basis and a yield of 5.4%. The ex-dividend date was Thursday, August 27th. Olin’s dividend payout ratio (DPR) is presently -65.04%.

About Olin

Olin Corporation is a global manufacturer of chemical products and ammunition. The company operates through its Chlor Alkali Products and Vinyls, Epoxy, and Winchester businesses, serving customers in a range of industrial, commercial, and consumer markets.

Olin’s Chlor Alkali Products and Vinyls business produces chlorine, caustic soda, hydrochloric acid, hydrogen, bleach products, chlorinated organic chemicals, and related materials used in water treatment, construction, pulp and paper, energy, and other manufacturing applications.