Olin (NYSE:OLN) Price Target Raised to $23.00

Olin (NYSE:OLN) had its price target raised by Truist Financial from $21.00 to $23.00 in a research report report published on Wednesday, MarketBeat Ratings reports. The firm currently has a hold rating on the specialty chemicals company’s stock.

Other research analysts also recently issued reports about the company. Bank of America lifted their price target on Olin from $25.00 to $30.00 and gave the company a “buy” rating in a report on Tuesday, October 14th. KeyCorp reduced their target price on shares of Olin from $30.00 to $29.00 and set an “overweight” rating for the company in a report on Wednesday, October 29th. Citigroup increased their price target on shares of Olin from $21.00 to $24.00 and gave the company a “neutral” rating in a research report on Tuesday, January 13th. Royal Bank Of Canada lifted their price objective on shares of Olin from $22.00 to $24.00 and gave the stock a “sector perform” rating in a research report on Friday, January 16th. Finally, Weiss Ratings reissued a “sell (d+)” rating on shares of Olin in a research report on Wednesday, October 8th. One equities research analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating, eleven have given a Hold rating and two have given a Sell rating to the stock. According to data from MarketBeat.com, Olin presently has an average rating of “Hold” and an average target price of $24.29.

Olin Trading Down 1.9%

NYSE:OLN opened at $24.01 on Wednesday. Olin has a one year low of $17.66 and a one year high of $33.68. The company has a debt-to-equity ratio of 1.49, a quick ratio of 0.89 and a current ratio of 1.56. The firm has a market cap of $2.74 billion, a P/E ratio of 52.18, a P/E/G ratio of 3.62 and a beta of 1.64. The firm has a 50-day simple moving average of $21.38 and a 200-day simple moving average of $22.02.

Olin (NYSE:OLN) last released its quarterly earnings data on Monday, October 27th. The specialty chemicals company reported $0.40 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.09 by $0.31. The firm had revenue of $1.71 billion for the quarter, compared to the consensus estimate of $1.74 billion. Olin had a net margin of 0.79% and a return on equity of 3.36%. The company’s quarterly revenue was up 7.8% on a year-over-year basis. During the same period last year, the firm earned ($0.21) earnings per share. Equities analysts anticipate that Olin will post 1.38 EPS for the current fiscal year.

Olin Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, December 12th. Stockholders of record on Friday, November 28th were paid a $0.20 dividend. The ex-dividend date was Friday, November 28th. This represents a $0.80 dividend on an annualized basis and a dividend yield of 3.3%. Olin’s dividend payout ratio is presently 173.91%.

Insiders Place Their Bets

In other Olin news, VP Teresa M. Vermillion sold 4,500 shares of the business’s stock in a transaction that occurred on Wednesday, November 26th. The stock was sold at an average price of $20.86, for a total value of $93,870.00. Following the completion of the transaction, the vice president directly owned 17,199 shares of the company’s stock, valued at approximately $358,771.14. The trade was a 20.74% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Corporate insiders own 1.60% of the company’s stock.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of OLN. Strategic Advocates LLC purchased a new position in shares of Olin during the 3rd quarter valued at approximately $25,000. Evelyn Partners Investment Management LLP increased its stake in shares of Olin by 6,360.0% during the second quarter. Evelyn Partners Investment Management LLP now owns 1,615 shares of the specialty chemicals company’s stock worth $32,000 after purchasing an additional 1,590 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. acquired a new position in shares of Olin during the 1st quarter worth about $32,000. Bessemer Group Inc. lifted its stake in Olin by 712.7% in the 3rd quarter. Bessemer Group Inc. now owns 1,341 shares of the specialty chemicals company’s stock valued at $34,000 after buying an additional 1,176 shares in the last quarter. Finally, UMB Bank n.a. boosted its holdings in Olin by 134.9% in the 2nd quarter. UMB Bank n.a. now owns 1,736 shares of the specialty chemicals company’s stock worth $35,000 after buying an additional 997 shares during the last quarter. Institutional investors and hedge funds own 88.67% of the company’s stock.

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.