Olin (NYSE:OLN) Given New $25.00 Price Target at Truist Financial

Olin (NYSE:OLN) had its price target reduced by Truist Financial from $32.00 to $25.00 in a research note published on Monday,Benzinga reports. They currently have a hold rating on the specialty chemicals company’s stock.

Several other research firms also recently weighed in on OLN. Barclays reduced their price target on shares of Olin from $34.00 to $28.00 and set an “equal weight” rating for the company in a research report on Tuesday, April 1st. JPMorgan Chase & Co. downgraded Olin from an “overweight” rating to a “neutral” rating and decreased their target price for the company from $50.00 to $28.00 in a research report on Thursday, February 27th. Royal Bank of Canada cut Olin from an “outperform” rating to a “sector perform” rating and dropped their price target for the stock from $45.00 to $30.00 in a research report on Tuesday, February 4th. UBS Group reduced their price objective on Olin from $34.00 to $21.00 and set a “neutral” rating for the company in a research note on Monday, April 7th. Finally, Citigroup lowered their target price on shares of Olin from $34.00 to $30.00 and set a “buy” rating on the stock in a research note on Thursday, March 27th. One analyst has rated the stock with a sell rating, eleven have assigned a hold rating and four have assigned a buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus target price of $34.63.

Olin Price Performance

NYSE:OLN opened at $20.87 on Monday. The company has a quick ratio of 0.77, a current ratio of 1.27 and a debt-to-equity ratio of 1.32. Olin has a 52 week low of $17.66 and a 52 week high of $57.10. The stock’s 50-day moving average price is $24.63 and its 200-day moving average price is $34.01. The stock has a market capitalization of $2.40 billion, a PE ratio of 23.19 and a beta of 1.50.

Olin (NYSE:OLN) last issued its quarterly earnings data on Thursday, January 30th. The specialty chemicals company reported $0.09 EPS for the quarter, beating the consensus estimate of ($0.01) by $0.10. Olin had a return on equity of 5.10% and a net margin of 1.66%. As a group, equities analysts expect that Olin will post 1.38 EPS for the current fiscal year.

Olin Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, March 14th. Investors of record on Thursday, March 6th were given a $0.20 dividend. The ex-dividend date was Thursday, March 6th. This represents a $0.80 annualized dividend and a yield of 3.83%. Olin’s payout ratio is 88.89%.

Insiders Place Their Bets

In related news, CEO Kenneth Todd Lane purchased 7,250 shares of the company’s stock in a transaction on Tuesday, February 4th. The stock was acquired at an average cost of $28.06 per share, for a total transaction of $203,435.00. Following the completion of the transaction, the chief executive officer now directly owns 7,250 shares in the company, valued at approximately $203,435. The trade was a ∞ increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which is available at this link. 1.60% of the stock is owned by insiders.

Hedge Funds Weigh In On Olin

A number of hedge funds have recently made changes to their positions in OLN. Covestor Ltd increased its stake in Olin by 45.8% during the 4th quarter. Covestor Ltd now owns 1,334 shares of the specialty chemicals company’s stock worth $45,000 after buying an additional 419 shares during the period. Spire Wealth Management grew its holdings in shares of Olin by 246.8% during the fourth quarter. Spire Wealth Management now owns 1,616 shares of the specialty chemicals company’s stock worth $55,000 after purchasing an additional 1,150 shares during the last quarter. Farther Finance Advisors LLC increased its position in Olin by 183.8% during the first quarter. Farther Finance Advisors LLC now owns 2,645 shares of the specialty chemicals company’s stock worth $63,000 after buying an additional 1,713 shares during the period. CoreFirst Bank & Trust acquired a new position in shares of Olin in the 4th quarter valued at $66,000. Finally, Jones Financial Companies Lllp raised its holdings in shares of Olin by 59.9% in the fourth quarter. Jones Financial Companies Lllp now owns 2,431 shares of the specialty chemicals company’s stock valued at $82,000 after buying an additional 911 shares during the last quarter. 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.