Olin (NYSE:OLN) PT Lowered to $73.00 at Piper Sandler

Olin (NYSE:OLNGet Rating) had its target price decreased by Piper Sandler from $80.00 to $73.00 in a report released on Tuesday morning, Benzinga reports. Piper Sandler currently has an overweight rating on the specialty chemicals company’s stock.

OLN has been the subject of several other reports. Wells Fargo & Company reduced their price objective on Olin from $78.00 to $69.00 and set an overweight rating for the company in a research note on Monday, August 1st. Royal Bank of Canada dropped their target price on Olin from $83.00 to $76.00 and set an outperform rating on the stock in a report on Wednesday, June 15th. UBS Group dropped their target price on Olin from $64.00 to $60.00 and set a buy rating on the stock in a report on Friday, July 29th. Barclays dropped their target price on Olin from $65.00 to $52.00 and set an equal weight rating on the stock in a report on Monday, July 11th. Finally, Citigroup lowered Olin from a buy rating to a neutral rating and dropped their target price for the stock from $74.00 to $55.00 in a report on Friday, June 17th. Three analysts have rated the stock with a hold rating and nine have assigned a buy rating to the stock. According to MarketBeat, the company presently has an average rating of Moderate Buy and a consensus price target of $67.18.

Olin Trading Up 1.3 %

Shares of NYSE:OLN opened at $52.87 on Tuesday. Olin has a 52-week low of $43.02 and a 52-week high of $67.25. The stock has a market cap of $7.67 billion, a price-to-earnings ratio of 5.56, a PEG ratio of 1.62 and a beta of 1.34. The company has a quick ratio of 0.93, a current ratio of 1.44 and a debt-to-equity ratio of 0.96. The business has a 50-day moving average price of $51.93 and a 200-day moving average price of $53.41.

Olin Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, September 9th. Shareholders of record on Wednesday, August 10th will be given a $0.20 dividend. The ex-dividend date is Tuesday, August 9th. This represents a $0.80 dividend on an annualized basis and a yield of 1.51%. Olin’s dividend payout ratio is currently 8.41%.

Insider Buying and Selling at Olin

In other Olin news, COO James A. Varilek sold 28,265 shares of Olin stock in a transaction on Friday, May 27th. The stock was sold at an average price of $64.76, for a total value of $1,830,441.40. Following the sale, the chief operating officer now owns 17,761 shares in the company, valued at $1,150,202.36. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In other news, Director C Robert Bunch sold 43,293 shares of Olin stock in a transaction on Tuesday, May 17th. The stock was sold at an average price of $65.02, for a total value of $2,814,910.86. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, COO James A. Varilek sold 28,265 shares of Olin stock in a transaction on Friday, May 27th. The shares were sold at an average price of $64.76, for a total value of $1,830,441.40. Following the completion of the sale, the chief operating officer now directly owns 17,761 shares of the company’s stock, valued at $1,150,202.36. The disclosure for this sale can be found here. Insiders have sold 2,586,576 shares of company stock worth $158,064,019 over the last quarter. 9.00% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Olin

Institutional investors have recently modified their holdings of the company. Vanguard Group Inc. grew its stake in Olin by 3.2% during the 1st quarter. Vanguard Group Inc. now owns 15,867,281 shares of the specialty chemicals company’s stock worth $829,542,000 after purchasing an additional 493,052 shares in the last quarter. BlackRock Inc. grew its stake in Olin by 3.1% during the 1st quarter. BlackRock Inc. now owns 15,796,238 shares of the specialty chemicals company’s stock worth $825,827,000 after purchasing an additional 472,527 shares in the last quarter. State Street Corp grew its stake in Olin by 0.6% during the 1st quarter. State Street Corp now owns 5,581,714 shares of the specialty chemicals company’s stock worth $291,812,000 after purchasing an additional 31,587 shares in the last quarter. Fuller & Thaler Asset Management Inc. grew its stake in Olin by 3.8% during the 4th quarter. Fuller & Thaler Asset Management Inc. now owns 4,669,514 shares of the specialty chemicals company’s stock worth $268,590,000 after purchasing an additional 170,468 shares in the last quarter. Finally, Invesco Ltd. grew its stake in Olin by 37.3% during the 4th quarter. Invesco Ltd. now owns 4,391,847 shares of the specialty chemicals company’s stock worth $252,618,000 after purchasing an additional 1,193,359 shares in the last quarter. 81.79% of the stock is owned by institutional investors and hedge funds.

About Olin

(Get Rating)

Olin Corporation manufactures and distributes chemical products in the United States, Europe, and internationally. 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, chlorinated organics intermediates and solvents, and sodium hypochlorite.

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