Olin (NYSE:OLN) Given New $58.00 Price Target at Morgan Stanley

Olin (NYSE:OLN) had its price target lowered by Morgan Stanley from $60.00 to $58.00 in a research note published on Tuesday, Price Targets.com reports. Morgan Stanley currently has an equal weight rating on the specialty chemicals company’s stock.

OLN has been the topic of a number of other research reports. JPMorgan Chase & Co. increased their target price on Olin from $64.00 to $85.00 and gave the company an overweight rating in a research note on Monday, October 25th. Royal Bank of Canada increased their target price on Olin from $70.00 to $81.00 and gave the company an outperform rating in a research note on Monday, October 25th. Piper Sandler increased their target price on Olin from $70.00 to $80.00 and gave the company an overweight rating in a research note on Thursday, October 28th. Bank of America increased their target price on Olin from $65.00 to $67.00 and gave the company a buy rating in a research note on Monday, October 18th. Finally, Wells Fargo & Company reissued a buy rating on shares of Olin in a research note on Thursday, December 9th. Three analysts have rated the stock with a hold rating and fourteen have given a buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of Buy and a consensus price target of $66.73.

Shares of OLN stock opened at $55.47 on Tuesday. The company has a debt-to-equity ratio of 1.18, a quick ratio of 0.93 and a current ratio of 1.45. Olin has a 52-week low of $22.76 and a 52-week high of $64.76. The company has a market capitalization of $8.84 billion, a PE ratio of 9.48 and a beta of 1.39. The business’s fifty day moving average is $57.13 and its 200 day moving average is $51.52.

Olin (NYSE:OLN) last issued its quarterly earnings data on Wednesday, October 20th. The specialty chemicals company reported $2.40 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $2.08 by $0.32. Olin had a return on equity of 47.48% and a net margin of 11.77%. The company had revenue of $2.34 billion for the quarter, compared to the consensus estimate of $2.38 billion. During the same quarter last year, the business posted ($0.20) earnings per share. On average, sell-side analysts forecast that Olin will post 8.7 EPS for the current fiscal year.

The firm also recently announced a quarterly dividend, which was paid on Friday, December 10th. Investors of record on Wednesday, November 10th were paid a $0.20 dividend. The ex-dividend date of this dividend was Tuesday, November 9th. This represents a $0.80 annualized dividend and a dividend yield of 1.44%. Olin’s payout ratio is presently 13.68%.

In related news, COO James A. Varilek sold 91,005 shares of the firm’s stock in a transaction dated Wednesday, November 3rd. The stock was sold at an average price of $60.78, for a total value of $5,531,283.90. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, EVP Pat D. Dawson sold 65,434 shares of the firm’s stock in a transaction dated Monday, November 8th. The stock was sold at an average price of $61.38, for a total value of $4,016,338.92. The disclosure for this sale can be found here. 11.90% of the stock is owned by company insiders.

A number of institutional investors and hedge funds have recently modified their holdings of the business. Global Retirement Partners LLC lifted its holdings in Olin by 14.5% in the third quarter. Global Retirement Partners LLC now owns 1,427 shares of the specialty chemicals company’s stock worth $69,000 after buying an additional 181 shares during the period. Koshinski Asset Management Inc. lifted its holdings in Olin by 20.8% in the fourth quarter. Koshinski Asset Management Inc. now owns 1,180 shares of the specialty chemicals company’s stock worth $68,000 after buying an additional 203 shares during the period. Captrust Financial Advisors lifted its holdings in Olin by 5.2% in the third quarter. Captrust Financial Advisors now owns 4,842 shares of the specialty chemicals company’s stock worth $234,000 after buying an additional 240 shares during the period. Commonwealth Equity Services LLC lifted its holdings in Olin by 1.0% in the second quarter. Commonwealth Equity Services LLC now owns 27,819 shares of the specialty chemicals company’s stock worth $1,286,000 after buying an additional 270 shares during the period. Finally, Arizona State Retirement System lifted its holdings in Olin by 0.7% in the third quarter. Arizona State Retirement System now owns 39,030 shares of the specialty chemicals company’s stock worth $1,883,000 after buying an additional 286 shares during the period. Institutional investors and hedge funds own 84.64% of the company’s stock.

Olin Company Profile

Olin Corp. engages in manufacturing of chemicals products. It operates through the following segments: Chlor Alkali Products and Vinyls, Epoxy, and Winchester. The Chlor Alkali Products and Vinyls segment manufactures and sells chlorine and caustic soda, ethylene dichloride and vinyl chloride monomer, methyl chloride, methylene chloride, chloroform, carbon tetrachloride, perchloroethylene, trichloroethylene and vinylidene chloride, hydrochloric acid, hydrogen, bleach products and potassium hydroxide.

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Analyst Recommendations for Olin (NYSE:OLN)

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