Analysts Set Olin Corporation (NYSE:OLN) Price Target at $23.20

Shares of Olin Corporation (NYSE:OLN) have been assigned a consensus rating of “Hold” from the eighteen brokerages that are currently covering the stock, MarketBeat Ratings reports. Three analysts have rated the stock with a sell rating, twelve have issued a hold rating, two have given a buy rating and one has assigned a strong buy rating to the company. The average 12 month price objective among brokers that have issued a report on the stock in the last year is $23.20.

OLN has been the topic of several recent analyst reports. UBS Group set a $21.00 target price on Olin in a research note on Monday, February 2nd. Wall Street Zen downgraded shares of Olin from a “hold” rating to a “sell” rating in a research report on Saturday, January 10th. Deutsche Bank Aktiengesellschaft reaffirmed a “hold” rating and set a $26.00 price objective on shares of Olin in a research report on Tuesday, February 10th. Citigroup lowered their target price on shares of Olin from $24.00 to $21.00 and set a “neutral” rating on the stock in a research note on Tuesday, February 3rd. Finally, KeyCorp lowered their price target on Olin from $29.00 to $26.00 and set an “overweight” rating on the stock in a report on Monday, February 2nd.

Insider Activity

In related news, CFO Todd A. Slater sold 92,250 shares of Olin stock in a transaction dated Tuesday, February 3rd. The stock was sold at an average price of $22.48, for a total value of $2,073,780.00. Following the completion of the transaction, the chief financial officer owned 44,291 shares in the company, valued at approximately $995,661.68. This trade represents a 67.56% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, VP R Nichole Sumner sold 4,750 shares of Olin stock in a transaction that occurred on Tuesday, February 3rd. The stock was sold at an average price of $22.49, for a total value of $106,827.50. Following the completion of the transaction, the vice president owned 24,771 shares of the company’s stock, valued at approximately $557,099.79. This trade represents a 16.09% decrease in their position. The SEC filing for this sale provides additional information. In the last ninety days, insiders sold 99,379 shares of company stock worth $2,238,298. 1.70% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Olin

A number of large investors have recently made changes to their positions in OLN. Royal Bank of Canada boosted its holdings in Olin by 20.2% during the 1st quarter. Royal Bank of Canada now owns 85,198 shares of the specialty chemicals company’s stock valued at $2,066,000 after acquiring an additional 14,344 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. bought a new stake in shares of Olin in the 1st quarter valued at about $32,000. Jones Financial Companies Lllp raised its stake in Olin by 467.9% in the first quarter. Jones Financial Companies Lllp now owns 13,805 shares of the specialty chemicals company’s stock worth $335,000 after buying an additional 11,374 shares in the last quarter. Goldman Sachs Group Inc. lifted its stake in shares of Olin by 57.6% during the 1st quarter. Goldman Sachs Group Inc. now owns 588,602 shares of the specialty chemicals company’s stock worth $14,268,000 after purchasing an additional 215,235 shares during the last quarter. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its position in shares of Olin by 6.7% during the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 317,472 shares of the specialty chemicals company’s stock valued at $7,696,000 after buying an additional 20,047 shares during the last quarter. 88.67% of the stock is owned by hedge funds and other institutional investors.

Olin Price Performance

OLN opened at $24.33 on Friday. The firm has a market cap of $2.76 billion, a PE ratio of -64.03 and a beta of 1.56. The stock has a 50-day moving average price of $23.37 and a 200-day moving average price of $22.74. Olin has a 1 year low of $17.66 and a 1 year high of $27.35. The company has a debt-to-equity ratio of 1.45, a current ratio of 1.21 and a quick ratio of 0.73.

Olin (NYSE:OLN) last released its quarterly earnings data on Thursday, January 29th. The specialty chemicals company reported ($0.58) earnings per share for the quarter, meeting analysts’ consensus estimates of ($0.58). The business had revenue of $1.67 billion during the quarter, compared to analyst estimates of $1.61 billion. Olin had a negative net margin of 0.63% and a negative return on equity of 0.48%. Olin’s revenue was down .4% compared to the same quarter last year. During the same period last year, the business earned $0.09 EPS. Sell-side analysts predict that Olin will post 1.38 earnings per share for the current fiscal year.

Olin Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, March 13th. Investors of record on Tuesday, March 3rd will be paid a dividend of $0.20 per share. The ex-dividend date of this dividend is Tuesday, March 3rd. This represents a $0.80 dividend on an annualized basis and a yield of 3.3%. Olin’s dividend payout ratio is presently -210.53%.

About Olin

Olin Corporation is a diversified manufacturer specializing in chemical products and ammunition. The company’s core business activities encompass the production and distribution of chlor-alkali products, epoxy resins and derivatives, and small-caliber ammunition under the Winchester brand. Olin’s chemical operations supply chlorine, caustic soda and related co-products to a wide range of end markets, including water treatment, pulp and paper, pharmaceuticals and general industrial applications.

In its Chlor Alkali Products & Vinyls segment, Olin operates multiple manufacturing facilities that produce chlorine and sodium hydroxide, along with vinyl chloride monomer and polyvinyl chloride (PVC) compounds.