Olin Co. (NYSE:OLN) Receives Average Recommendation of “Hold” from Brokerages

Shares of Olin Co. (NYSE:OLN) have earned an average rating of “Hold” from the fifteen brokerages that are covering the firm, MarketBeat reports. Two analysts have rated the stock with a sell recommendation, seven have assigned a hold recommendation and six have assigned a buy recommendation to the company. The average twelve-month price target among analysts that have issued ratings on the stock in the last year is $60.00.

A number of research analysts have weighed in on OLN shares. Citigroup increased their target price on Olin from $63.00 to $67.00 and gave the company a “buy” rating in a report on Wednesday, April 10th. Stifel Nicolaus raised their price objective on shares of Olin from $68.00 to $69.00 and gave the stock a “buy” rating in a report on Monday, April 29th. KeyCorp decreased their price target on shares of Olin from $78.00 to $73.00 and set an “overweight” rating on the stock in a research report on Monday, April 29th. Piper Sandler boosted their price objective on shares of Olin from $72.00 to $75.00 and gave the company an “overweight” rating in a research report on Monday, April 29th. Finally, Royal Bank of Canada decreased their target price on Olin from $69.00 to $63.00 and set an “outperform” rating on the stock in a report on Monday, April 29th.

Olin Stock Performance

Shares of OLN stock opened at $49.97 on Wednesday. The firm has a market capitalization of $5.97 billion, a PE ratio of 17.97, a P/E/G ratio of 0.29 and a beta of 1.47. The company has a 50 day moving average price of $53.83 and a 200-day moving average price of $53.60. Olin has a 52 week low of $41.71 and a 52 week high of $60.60. The company has a quick ratio of 0.80, a current ratio of 1.38 and a debt-to-equity ratio of 1.22.

Olin (NYSE:OLN) last announced its earnings results on Friday, April 26th. The specialty chemicals company reported $0.40 earnings per share for the quarter, beating analysts’ consensus estimates of $0.38 by $0.02. The business 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 company’s quarterly revenue was down 11.3% compared to the same quarter last year. During the same period in the previous year, the business earned $1.16 EPS. As a group, equities research analysts expect that Olin will post 3.66 earnings per share for the current year.

Olin Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, June 14th. Investors of record on Thursday, May 9th were given a dividend of $0.20 per share. The ex-dividend date was Wednesday, May 8th. This represents a $0.80 dividend on an annualized basis and a dividend yield of 1.60%. Olin’s dividend payout ratio is 28.78%.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the stock. LRI Investments LLC purchased a new position in shares of Olin in the first quarter valued at $28,000. EverSource Wealth Advisors LLC lifted its position in Olin by 4,375.0% during the first quarter. EverSource Wealth Advisors LLC now owns 537 shares of the specialty chemicals company’s stock valued at $32,000 after purchasing an additional 525 shares during the last quarter. Sandy Spring Bank grew its stake in shares of Olin by 145.6% in the 4th quarter. Sandy Spring Bank now owns 614 shares of the specialty chemicals company’s stock worth $33,000 after buying an additional 364 shares in the last quarter. Covestor Ltd increased its holdings in shares of Olin by 76.7% in the 3rd quarter. Covestor Ltd now owns 659 shares of the specialty chemicals company’s stock worth $33,000 after buying an additional 286 shares during the last quarter. Finally, Fifth Third Bancorp increased its holdings in shares of Olin by 30.0% in the 1st quarter. Fifth Third Bancorp now owns 858 shares of the specialty chemicals company’s stock worth $50,000 after buying an additional 198 shares during the last quarter. Institutional investors 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.