Royal Bank of Canada Cuts Olin (NYSE:OLN) Price Target to $63.00

Olin (NYSE:OLN) had its price objective trimmed by Royal Bank of Canada from $69.00 to $63.00 in a research note issued to investors on Monday morning, Benzinga reports. The brokerage currently has an outperform rating on the specialty chemicals company’s stock.

Other equities research analysts have also issued research reports about the company. Stifel Nicolaus increased their price target on Olin from $65.00 to $66.00 and gave the company a buy rating in a research report on Monday, January 29th. Citigroup raised their price target on Olin from $63.00 to $67.00 and gave the stock a buy rating in a research note on Wednesday, April 10th. UBS Group raised their price target on Olin from $56.00 to $58.00 and gave the stock a neutral rating in a research note on Friday, January 26th. KeyCorp lowered their target price on Olin from $78.00 to $73.00 and set an overweight rating on the stock in a research note on Monday. Finally, Piper Sandler raised their price target on Olin from $72.00 to $75.00 and gave the company an overweight rating in a report on Monday. Two equities research analysts have rated the stock with a sell rating, eight have given a hold rating and six have assigned a buy rating to the stock. According to data from MarketBeat.com, Olin currently has a consensus rating of Hold and an average price target of $60.00.

Olin Stock Up 0.1 %

Shares of OLN opened at $53.54 on Monday. The company has a debt-to-equity ratio of 1.22, a quick ratio of 0.80 and a current ratio of 1.38. Olin has a one year low of $41.71 and a one year high of $60.60. The stock has a market capitalization of $6.41 billion, a price-to-earnings ratio of 19.26, a PEG ratio of 0.29 and a beta of 1.44. The stock has a 50 day moving average price of $55.65 and a 200 day moving average price of $51.70.

Olin (NYSE:OLN) last issued its earnings results on Friday, April 26th. The specialty chemicals company reported $0.40 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.38 by $0.02. The company had revenue of $1.64 billion during the quarter, compared to analysts’ expectations of $1.65 billion. Olin had a return on equity of 14.47% and a net margin of 5.32%. The firm’s quarterly revenue was down 11.3% on a year-over-year basis. During the same period in the prior year, the business earned $1.16 EPS. Equities research analysts forecast that Olin will post 3.73 earnings per share for the current fiscal year.

Olin Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, June 14th. Stockholders of record on Thursday, May 9th will be given a $0.20 dividend. The ex-dividend date of this dividend is Wednesday, May 8th. This represents a $0.80 annualized dividend and a dividend yield of 1.49%. Olin’s dividend payout ratio is currently 28.78%.

Insider Activity

In other news, CEO Scott Mcdougald Sutton sold 15,000 shares of the company’s stock in a transaction on Thursday, February 22nd. The stock was sold at an average price of $52.50, for a total value of $787,500.00. Following the sale, the chief executive officer now directly owns 75,327 shares in the company, valued at $3,954,667.50. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. In related news, CEO Scott Mcdougald Sutton sold 15,000 shares of the company’s stock in a transaction on Thursday, February 22nd. The stock was sold at an average price of $52.50, for a total value of $787,500.00. Following the completion of the transaction, the chief executive officer now directly owns 75,327 shares in the company, valued at $3,954,667.50. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, VP Valerie A. Peters sold 71,800 shares of the company’s stock in a transaction dated Wednesday, January 31st. The stock was sold at an average price of $52.52, for a total value of $3,770,936.00. Following the sale, the vice president now owns 19,469 shares of the company’s stock, valued at $1,022,511.88. The disclosure for this sale can be found here. Insiders have sold 150,696 shares of company stock worth $7,906,997 over the last three months. 1.80% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Olin

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. SG Americas Securities LLC grew its stake in shares of Olin by 59.2% in the third quarter. SG Americas Securities LLC now owns 24,824 shares of the specialty chemicals company’s stock valued at $1,241,000 after buying an additional 9,232 shares in the last quarter. Xponance Inc. boosted its holdings in Olin by 3.0% in the third quarter. Xponance Inc. now owns 15,174 shares of the specialty chemicals company’s stock valued at $758,000 after purchasing an additional 444 shares during the last quarter. FinTrust Capital Advisors LLC lifted its holdings in Olin by 651.4% during the 3rd quarter. FinTrust Capital Advisors LLC now owns 37,569 shares of the specialty chemicals company’s stock worth $1,878,000 after buying an additional 32,569 shares during the last quarter. Raymond James Financial Services Advisors Inc. lifted its holdings in Olin by 209.4% during the 3rd quarter. Raymond James Financial Services Advisors Inc. now owns 50,657 shares of the specialty chemicals company’s stock worth $2,532,000 after buying an additional 34,285 shares during the last quarter. Finally, Arnhold LLC lifted its holdings in Olin by 29.8% during the 3rd quarter. Arnhold LLC now owns 225,338 shares of the specialty chemicals company’s stock worth $11,262,000 after buying an additional 51,768 shares during the last quarter. 88.67% of the stock is currently owned by institutional investors and hedge funds.

Olin Company Profile

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.