Olin Co. (NYSE:OLN) Given Consensus Rating of “Hold” by Brokerages

Shares of Olin Co. (NYSE:OLN) have been given a consensus recommendation of “Hold” by the fifteen research firms that are covering the stock, Marketbeat.com reports. Two research analysts have rated the stock with a sell recommendation, seven have assigned a hold recommendation and six have given a buy recommendation to the company. The average twelve-month price target among brokers that have updated their coverage on the stock in the last year is $59.27.

A number of brokerages have recently weighed in on OLN. Piper Sandler upped their price target on shares of Olin from $72.00 to $75.00 and gave the stock an “overweight” rating in a research note on Monday, April 29th. 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. Barclays boosted their target price on shares of Olin from $57.00 to $59.00 and gave the stock an “equal weight” rating in a report on Thursday, April 4th. Royal Bank of Canada dropped their target price on shares of Olin from $69.00 to $63.00 and set an “outperform” rating on the stock in a report on Monday, April 29th. Finally, Bank of America dropped their target price on shares of Olin from $74.00 to $72.00 and set a “buy” rating on the stock in a report on Monday, April 29th.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in OLN. LRI Investments LLC purchased a new position in Olin during the first quarter valued at approximately $28,000. EverSource Wealth Advisors LLC grew 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 in the last quarter. Sandy Spring Bank grew its position in Olin by 145.6% during the fourth quarter. Sandy Spring Bank now owns 614 shares of the specialty chemicals company’s stock valued at $33,000 after purchasing an additional 364 shares in the last quarter. Fifth Third Bancorp grew its position in Olin by 30.0% during the first quarter. Fifth Third Bancorp now owns 858 shares of the specialty chemicals company’s stock valued at $50,000 after purchasing an additional 198 shares in the last quarter. Finally, Quarry LP purchased a new position in Olin during the fourth quarter valued at approximately $50,000. 88.67% of the stock is owned by hedge funds and other institutional investors.

Olin Trading Up 2.5 %

Olin stock opened at $47.58 on Friday. The company has a quick ratio of 0.80, a current ratio of 1.38 and a debt-to-equity ratio of 1.22. The firm has a 50-day moving average price of $51.30 and a two-hundred day moving average price of $53.14. The firm has a market capitalization of $5.68 billion, a price-to-earnings ratio of 17.12, a PEG ratio of 0.27 and a beta of 1.44. Olin has a 52-week low of $41.71 and a 52-week high of $60.60.

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. Sell-side analysts expect that Olin will post 3.66 earnings per share for the current year.

Olin Announces Dividend

The business also recently disclosed 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. This represents a $0.80 dividend on an annualized basis and a yield of 1.68%. The ex-dividend date of this dividend was Wednesday, May 8th. Olin’s payout ratio is presently 28.78%.

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.