Olin Corporation (NYSE:OLN) Stock Has Consensus Price Target of $20.64 According to Brokerages

Shares of Olin Corporation (NYSE:OLN) have received a consensus recommendation of “Reduce” from the sixteen analysts that are presently covering the stock, Marketbeat reports. Three analysts have rated the stock with a sell rating, twelve have assigned a hold rating and one has assigned a buy rating to the company. The average 1 year target price among brokerages that have updated their coverage on the stock in the last year is $20.64.

Several research firms recently commented on OLN. Wells Fargo & Company upped their target price on shares of Olin from $16.00 to $17.00 and gave the company an “equal weight” rating in a research note on Tuesday. Barclays initiated coverage on shares of Olin in a research note on Monday, October 12th. They set an “equal weight” rating and a $18.00 price objective for the company. Weiss Ratings restated a “sell (d)” rating on shares of Olin in a research report on Wednesday, August 19th. The Goldman Sachs Group set a $18.00 price objective on shares of Olin in a research report on Wednesday, September 30th. Finally, UBS Group lowered their target price on Olin from $21.00 to $18.00 and set a “neutral” rating for the company in a report on Monday, October 5th.

Hedge Funds Weigh In On Olin

A number of hedge funds and other institutional investors have recently bought and sold shares of the stock. Rockefeller Capital Management L.P. increased its stake 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 valued at $26,000 after buying an additional 659 shares during the period. Sunbelt Securities Inc. purchased a new position in shares of Olin in the 1st quarter valued at $45,000. Nykredit A S purchased a new position in Olin during the 2nd quarter valued at about $59,000. IFP Advisors Inc boosted its position 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 purchasing an additional 1,718 shares in the last quarter. Finally, CX Institutional acquired a new position in Olin in the third quarter worth $76,000. 88.67% of the stock is currently owned by institutional investors and hedge funds.

Olin Trading Down 4.2%

NYSE:OLN opened at $17.31 on Wednesday. The company has a quick ratio of 0.88, a current ratio of 1.45 and a debt-to-equity ratio of 1.75. Olin has a 12 month low of $14.64 and a 12 month high of $30.46. The firm’s 50 day moving average is $16.46 and its 200 day moving average is $22.14.

Olin (NYSE:OLN) last released its quarterly earnings results on Thursday, October 29th. The specialty chemicals company reported $0.13 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.15 by ($0.02). Olin had a negative net margin of 2.49% and a negative return on equity of 6.63%. The business had revenue of $1.75 billion for the quarter, compared to analysts’ expectations of $1.83 billion. During the same period in the previous year, the company earned $0.37 EPS. Olin’s revenue for the quarter was up 2.0% compared to the same quarter last year. Equities research analysts expect that Olin will post -0.83 earnings per share for the current fiscal year.

Olin Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, September 11th. Investors of record on Thursday, August 27th were paid a $0.20 dividend. The ex-dividend date was Thursday, August 27th. This represents a $0.80 dividend on an annualized basis and a yield of 4.6%. Olin’s dividend payout ratio (DPR) is -54.42%.

Olin Company Profile

Olin Corporation (NYSE: OLN) is a global manufacturer of chemicals and ammunition. The company operates through three primary businesses: Chlor Alkali Products and Vinyls, Epoxy, and Winchester.

Its Chlor Alkali Products and Vinyls business produces chlorine, caustic soda, hydrochloric acid, bleach products, hydrogen, chlorinated organic chemicals and other related materials used in industrial, water-treatment, construction and consumer applications. Olin’s Epoxy business manufactures epoxy resins, intermediates and other specialty materials used in coatings, adhesives, composites, electronics and infrastructure-related applications.

Through its Winchester business, Olin produces and distributes sporting ammunition, reloading components, and small-caliber ammunition for law enforcement and military customers.