Olin (NYSE:OLN) PT Raised to $75.00 at Piper Sandler

Olin (NYSE:OLN) had its target price boosted by Piper Sandler from $72.00 to $75.00 in a research note issued to investors on Monday, Benzinga reports. The firm currently has an overweight rating on the specialty chemicals company’s stock.

A number of other analysts have also weighed in on OLN. KeyCorp upped their price target on shares of Olin from $66.00 to $78.00 and gave the stock an overweight rating in a research note on Tuesday, April 9th. Wells Fargo & Company upped their price target on shares of Olin from $56.00 to $60.00 and gave the stock an equal weight rating in a research note on Wednesday, April 3rd. Citigroup upped their price target on shares of Olin from $63.00 to $67.00 and gave the stock a buy rating in a research note on Wednesday, April 10th. Barclays increased their target price on shares of Olin from $57.00 to $59.00 and gave the company an equal weight rating in a research note on Thursday, April 4th. Finally, Stifel Nicolaus increased their target price on shares of Olin from $65.00 to $66.00 and gave the company a buy rating in a research note on Monday, January 29th. Two equities research analysts have rated the stock with a sell rating, eight have given a hold rating and six have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of Hold and a consensus price target of $60.00.

Olin Price Performance

NYSE OLN opened at $52.06 on Monday. Olin has a 52 week low of $41.71 and a 52 week high of $60.60. The company has a current ratio of 1.38, a quick ratio of 0.80 and a debt-to-equity ratio of 1.22. The stock has a market cap of $6.22 billion, a price-to-earnings ratio of 18.73, a price-to-earnings-growth ratio of 0.30 and a beta of 1.44. The company has a 50-day moving average price of $55.67 and a two-hundred day moving average price of $51.73.

Olin (NYSE:OLN) last issued its quarterly earnings results on Friday, April 26th. The specialty chemicals company reported $0.40 earnings per share for the quarter, topping analysts’ consensus estimates of $0.38 by $0.02. The company had revenue of $1.64 billion during the quarter, compared to analyst estimates of $1.65 billion. Olin had a net margin of 5.32% and a return on equity of 14.47%. The business’s revenue for the quarter was down 11.3% compared to the same quarter last year. During the same period in the prior year, the business posted $1.16 EPS. Analysts forecast that Olin will post 3.68 EPS for the current year.

Olin Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, June 14th. Stockholders of record on Thursday, May 9th will be issued a dividend of $0.20 per share. The ex-dividend date is Wednesday, May 8th. This represents a $0.80 dividend on an annualized basis and a dividend yield of 1.54%. Olin’s dividend payout ratio is currently 28.78%.

Insider Activity

In other Olin news, CEO Scott Mcdougald Sutton sold 15,000 shares of the company’s stock in a transaction that occurred on Thursday, February 22nd. The shares were sold at an average price of $52.50, for a total value of $787,500.00. Following the transaction, the chief executive officer now owns 75,327 shares in the company, valued at approximately $3,954,667.50. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Insiders have sold 78,896 shares of company stock worth $4,136,061 over the last 90 days. 1.80% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Hedge funds have recently modified their holdings of the business. South Dakota Investment Council increased its stake in shares of Olin by 279.8% during the 4th quarter. South Dakota Investment Council now owns 60,392 shares of the specialty chemicals company’s stock worth $3,258,000 after purchasing an additional 44,492 shares during the last quarter. Quantbot Technologies LP increased its stake in shares of Olin by 153.2% during the 3rd quarter. Quantbot Technologies LP now owns 24,674 shares of the specialty chemicals company’s stock worth $1,233,000 after purchasing an additional 14,928 shares during the last quarter. Coombe Bender & Co LLC increased its stake in shares of Olin by 20.8% during the 3rd quarter. Coombe Bender & Co LLC now owns 90,977 shares of the specialty chemicals company’s stock worth $4,547,000 after purchasing an additional 15,645 shares during the last quarter. AdvisorShares Investments LLC acquired a new position in shares of Olin during the 3rd quarter worth $361,000. Finally, Cerity Partners LLC acquired a new position in shares of Olin during the 4th quarter worth $2,613,000. Institutional investors and hedge funds own 88.67% of the company’s stock.

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.