Olin (NYSE:OLN) PT Lowered to $48.00

Olin (NYSE:OLN) had its price target lowered by Deutsche Bank Aktiengesellschaft from $57.00 to $48.00 in a research note released on Monday, Benzinga reports. The firm currently has a hold rating on the specialty chemicals company’s stock.

OLN has been the topic of a number of other research reports. Bank of America dropped their price objective on Olin from $74.00 to $72.00 and set a buy rating on the stock in a report on Monday, April 29th. KeyCorp dropped their price objective on Olin from $69.00 to $62.00 and set an overweight rating on the stock in a report on Monday. JPMorgan Chase & Co. raised Olin from a neutral rating to an overweight rating and set a $55.00 price objective on the stock in a report on Monday. Stifel Nicolaus raised their price target on Olin from $68.00 to $69.00 and gave the company a buy rating in a report on Monday, April 29th. Finally, Wells Fargo & Company lowered their price target on Olin from $50.00 to $48.00 and set an equal weight rating on the stock in a report on Monday. One analyst has rated the stock with a sell rating, eight have given a hold rating and six have assigned a buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of Hold and an average price target of $53.86.

Olin Stock Down 2.5 %

OLN stock opened at $44.45 on Monday. The company has a debt-to-equity ratio of 1.29, a quick ratio of 0.82 and a current ratio of 1.43. The company has a market capitalization of $5.22 billion, a price-to-earnings ratio of 15.99, a PEG ratio of 0.85 and a beta of 1.44. Olin has a fifty-two week low of $41.71 and a fifty-two week high of $60.60. The stock has a fifty day moving average of $48.86 and a 200-day moving average of $52.52.

Olin (NYSE:OLN) last issued its quarterly earnings data on Thursday, July 25th. The specialty chemicals company reported $0.62 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.70 by ($0.08). The company had revenue of $1.64 billion for the quarter, compared to analysts’ expectations of $1.71 billion. Olin had a return on equity of 11.73% and a net margin of 4.26%. The business’s revenue for the quarter was down 3.5% on a year-over-year basis. During the same period last year, the company posted $1.13 EPS. As a group, equities research analysts predict that Olin will post 1.87 earnings per share for the current year.

Olin Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, September 13th. Stockholders of record on Thursday, August 8th will be paid a $0.20 dividend. This represents a $0.80 annualized dividend and a dividend yield of 1.80%. The ex-dividend date of this dividend is Thursday, August 8th. Olin’s dividend payout ratio is currently 28.78%.

Institutional Inflows and Outflows

Several hedge funds have recently modified their holdings of the business. Hotchkis & Wiley Capital Management LLC raised its stake in shares of Olin by 3.2% in the fourth quarter. Hotchkis & Wiley Capital Management LLC now owns 6,602,331 shares of the specialty chemicals company’s stock worth $356,196,000 after purchasing an additional 203,260 shares during the last quarter. Boston Partners grew its holdings in shares of Olin by 7.7% in the first quarter. Boston Partners now owns 5,414,265 shares of the specialty chemicals company’s stock worth $317,897,000 after acquiring an additional 384,888 shares during the period. Dimensional Fund Advisors LP grew its holdings in shares of Olin by 3.6% in the fourth quarter. Dimensional Fund Advisors LP now owns 3,635,983 shares of the specialty chemicals company’s stock worth $196,167,000 after acquiring an additional 126,587 shares during the period. Balyasny Asset Management L.P. grew its holdings in shares of Olin by 218.6% in the fourth quarter. Balyasny Asset Management L.P. now owns 1,649,273 shares of the specialty chemicals company’s stock worth $88,978,000 after acquiring an additional 1,131,674 shares during the period. Finally, Norges Bank bought a new stake in shares of Olin in the fourth quarter worth $76,125,000. Hedge funds and other institutional investors own 88.67% of the company’s stock.

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.