Olin Co. (NYSE:OLN) Receives Consensus Rating of “Hold” from Brokerages

Shares of Olin Co. (NYSE:OLN) have received a consensus recommendation of “Hold” from the fifteen brokerages that are presently covering the firm, MarketBeat.com reports. One research analyst has rated the stock with a sell rating, eleven have issued a hold rating and three have assigned a buy rating to the company. The average twelve-month price target among analysts that have issued a report on the stock in the last year is $30.93.

A number of analysts recently issued reports on the stock. Bank of America raised shares of Olin from a “neutral” rating to a “buy” rating and dropped their target price for the stock from $48.00 to $40.00 in a research report on Tuesday, January 14th. BMO Capital Markets dropped their price objective on shares of Olin from $44.00 to $34.00 and set a “market perform” rating for the company in a research report on Wednesday, February 5th. Wells Fargo & Company reduced their target price on shares of Olin from $25.00 to $19.00 and set an “equal weight” rating on the stock in a report on Wednesday, April 9th. JPMorgan Chase & Co. cut shares of Olin from an “overweight” rating to a “neutral” rating and decreased their price target for the stock from $50.00 to $28.00 in a research report on Thursday, February 27th. Finally, Piper Sandler cut their price objective on Olin from $33.00 to $26.00 and set a “neutral” rating on the stock in a research report on Monday, April 7th.

Olin Stock Performance

NYSE:OLN opened at $22.25 on Friday. The company has a market cap of $2.56 billion, a P/E ratio of 24.72 and a beta of 1.50. The firm’s 50 day moving average is $22.86 and its two-hundred day moving average is $31.70. Olin has a fifty-two week low of $17.66 and a fifty-two week high of $57.10. 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 (NYSE:OLN) last issued its earnings results on Thursday, May 1st. The specialty chemicals company reported $0.04 earnings per share for the quarter, topping the consensus estimate of ($0.10) by $0.14. Olin had a return on equity of 5.10% and a net margin of 1.66%. The business had revenue of $1.64 billion for the quarter, compared to analyst estimates of $1.58 billion. During the same period last year, the company posted $0.40 EPS. The business’s quarterly revenue was up 1.2% on a year-over-year basis. Analysts expect that Olin will post 1.38 EPS for the current year.

Olin Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, June 13th. Investors of record on Thursday, May 15th will be issued a $0.20 dividend. The ex-dividend date is Thursday, May 15th. This represents a $0.80 annualized dividend and a yield of 3.60%. Olin’s dividend payout ratio is presently 88.89%.

Insiders Place Their Bets

In other news, CEO Kenneth Todd Lane bought 7,250 shares of Olin stock in a transaction on Tuesday, February 4th. The shares were bought at an average price of $28.06 per share, with a total value of $203,435.00. Following the acquisition, the chief executive officer now directly owns 7,250 shares in the company, valued at approximately $203,435. This represents a ∞ increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. 1.70% of the stock is owned by company insiders.

Institutional Investors Weigh In On Olin

Institutional investors and hedge funds have recently made changes to their positions in the company. Fifth Third Bancorp raised its holdings in shares of Olin by 160.5% during the first quarter. Fifth Third Bancorp now owns 1,206 shares of the specialty chemicals company’s stock worth $29,000 after purchasing an additional 743 shares during the period. Mirae Asset Global Investments Co. Ltd. acquired a new stake in Olin during the first quarter worth about $31,000. Allworth Financial LP lifted its holdings in Olin by 188.5% in the first quarter. Allworth Financial LP now owns 1,676 shares of the specialty chemicals company’s stock worth $37,000 after acquiring an additional 1,095 shares during the last quarter. Covestor Ltd boosted its stake in Olin by 45.8% in the fourth quarter. Covestor Ltd now owns 1,334 shares of the specialty chemicals company’s stock valued at $45,000 after acquiring an additional 419 shares during the period. Finally, 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 valued at $55,000 after purchasing an additional 1,150 shares during the last quarter. 88.67% of the stock is 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.