Stifel Nicolaus Raises Olin (NYSE:OLN) Price Target to $69.00

Olin (NYSE:OLN) had its price target lifted by Stifel Nicolaus from $68.00 to $69.00 in a report issued on Monday, Benzinga reports. They currently have a buy rating on the specialty chemicals company’s stock.

Several other research analysts have also recently commented on OLN. UBS Group raised their target price on shares of Olin from $56.00 to $58.00 and gave the stock a neutral rating in a report on Friday, January 26th. Piper Sandler increased their target price on shares of Olin from $72.00 to $75.00 and gave the stock an overweight rating in a research report on Monday. Royal Bank of Canada reduced their price target on Olin from $69.00 to $63.00 and set an outperform rating for the company in a report on Monday. Barclays lifted their price objective 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, KeyCorp cut their target price on Olin from $78.00 to $73.00 and set an overweight rating on the stock in a report on Monday. Two investment analysts have rated the stock with a sell rating, eight have issued a hold rating and six have assigned a buy rating to the stock. According to data from MarketBeat, Olin currently has a consensus rating of Hold and a consensus price target of $60.00.

Olin Price Performance

Shares of OLN opened at $52.06 on Monday. The firm has a market capitalization 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 stock’s fifty day moving average is $55.67 and its 200-day moving average is $51.73. Olin has a one year low of $41.71 and a one year high of $60.60. The company has a debt-to-equity ratio of 1.22, a quick ratio of 0.80 and a current ratio of 1.38.

Olin (NYSE:OLN) last announced its quarterly earnings data on Friday, April 26th. The specialty chemicals company reported $0.40 EPS for the quarter, beating analysts’ consensus estimates of $0.38 by $0.02. The company had revenue of $1.64 billion during the quarter, compared to the consensus estimate of $1.65 billion. Olin had a return on equity of 14.47% and a net margin of 5.32%. The company’s quarterly revenue was down 11.3% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $1.16 EPS. Equities analysts anticipate that Olin will post 3.68 EPS for the current year.

Olin Announces Dividend

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

Insider Activity

In related news, CEO Scott Mcdougald Sutton sold 15,000 shares of Olin stock in a transaction dated Thursday, February 22nd. The stock was sold at an average price of $52.50, for a total transaction of $787,500.00. Following the sale, the chief executive officer now directly owns 75,327 shares of the company’s stock, valued at $3,954,667.50. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Over the last 90 days, insiders sold 78,896 shares of company stock valued at $4,136,061. Insiders own 1.80% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the company. M3 Advisory Group LLC increased its holdings in Olin by 4.2% in the 1st quarter. M3 Advisory Group LLC now owns 20,933 shares of the specialty chemicals company’s stock valued at $1,231,000 after buying an additional 836 shares during the period. Principal Financial Group Inc. boosted its position in shares of Olin by 0.6% during the 1st quarter. Principal Financial Group Inc. now owns 452,760 shares of the specialty chemicals company’s stock valued at $26,622,000 after acquiring an additional 2,816 shares in the last quarter. Deroy & Devereaux Private Investment Counsel Inc. increased its stake in Olin by 3.3% in the first quarter. Deroy & Devereaux Private Investment Counsel Inc. now owns 32,865 shares of the specialty chemicals company’s stock valued at $1,932,000 after acquiring an additional 1,050 shares during the period. Spire Wealth Management raised its position in Olin by 22.8% in the first quarter. Spire Wealth Management now owns 3,114 shares of the specialty chemicals company’s stock worth $183,000 after purchasing an additional 579 shares in the last quarter. Finally, Louisiana State Employees Retirement System lifted its stake in Olin by 0.6% during the first quarter. Louisiana State Employees Retirement System now owns 34,600 shares of the specialty chemicals company’s stock worth $2,034,000 after purchasing an additional 200 shares during the period. 88.67% of the stock is owned by institutional investors.

About Olin

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.