Piper Sandler Cuts Olin (NYSE:OLN) Price Target to $73.00

Olin (NYSE:OLNGet Rating) had its price target cut by Piper Sandler from $80.00 to $73.00 in a research report released on Tuesday morning, The Fly reports. They currently have a maintains rating on the specialty chemicals company’s stock.

Other equities analysts have also issued research reports about the stock. Citigroup lowered shares of Olin from a buy rating to a neutral rating and reduced their target price for the company from $74.00 to $55.00 in a report on Friday, June 17th. Wells Fargo & Company reduced their target price on shares of Olin from $78.00 to $69.00 and set an overweight rating on the stock in a report on Monday. Royal Bank of Canada reduced their target price on shares of Olin from $76.00 to $70.00 and set a maintains rating on the stock in a report on Monday. Barclays reduced their target price on shares of Olin from $65.00 to $52.00 and set an equal weight rating on the stock in a report on Monday, July 11th. Finally, KeyCorp lifted their target price on shares of Olin from $60.00 to $61.00 and gave the company an overweight rating in a report on Monday. Three research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of Moderate Buy and an average target price of $67.18.

Olin Stock Down 0.3 %

Shares of NYSE OLN opened at $51.53 on Tuesday. Olin has a 52-week low of $43.02 and a 52-week high of $67.25. The firm has a fifty day moving average of $52.69 and a 200-day moving average of $53.45. The stock has a market capitalization of $7.82 billion, a PE ratio of 5.42 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.

Olin Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, September 9th. Stockholders of record on Wednesday, August 10th will be paid a $0.20 dividend. The ex-dividend date is Tuesday, August 9th. This represents a $0.80 dividend on an annualized basis and a dividend yield of 1.55%. Olin’s dividend payout ratio (DPR) is presently 8.41%.

Insider Activity

In other news, Director C Robert Bunch sold 43,293 shares of the company’s stock in a transaction dated Tuesday, May 17th. The shares were sold at an average price of $65.02, for a total value of $2,814,910.86. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. In other news, VP Valerie A. Peters sold 5,500 shares of the company’s stock in a transaction dated Wednesday, May 18th. The shares were sold at an average price of $63.93, for a total value of $351,615.00. Following the sale, the vice president now owns 4,082 shares in the company, valued at approximately $260,962.26. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director C Robert Bunch sold 43,293 shares of the business’s stock in a transaction dated Tuesday, May 17th. The shares were sold at an average price of $65.02, for a total transaction of $2,814,910.86. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 2,586,576 shares of company stock worth $158,064,019. 9.00% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Olin

A number of institutional investors have recently modified their holdings of OLN. JPMorgan Chase & Co. grew its position in shares of Olin by 1,052.8% during the 4th quarter. JPMorgan Chase & Co. now owns 4,249,478 shares of the specialty chemicals company’s stock valued at $244,430,000 after buying an additional 3,880,863 shares during the last quarter. Invesco Ltd. grew its position in shares of Olin by 37.3% during the 4th quarter. Invesco Ltd. now owns 4,391,847 shares of the specialty chemicals company’s stock valued at $252,618,000 after buying an additional 1,193,359 shares during the last quarter. Marshall Wace LLP grew its position in shares of Olin by 1,350.2% during the 4th quarter. Marshall Wace LLP now owns 1,147,699 shares of the specialty chemicals company’s stock valued at $66,015,000 after buying an additional 1,068,558 shares during the last quarter. Thompson Siegel & Walmsley LLC grew its position in shares of Olin by 547.3% during the 2nd quarter. Thompson Siegel & Walmsley LLC now owns 1,200,786 shares of the specialty chemicals company’s stock valued at $55,573,000 after buying an additional 1,015,265 shares during the last quarter. Finally, First Trust Advisors LP grew its position in shares of Olin by 120.8% during the 1st quarter. First Trust Advisors LP now owns 1,390,662 shares of the specialty chemicals company’s stock valued at $72,704,000 after buying an additional 760,691 shares during the last quarter. Institutional investors own 81.79% of the company’s stock.

Olin Company Profile

(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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