Olin Corporation (NYSE:OLN) Given Consensus Recommendation of “Hold” by Analysts

Shares of Olin Corporation (NYSE:OLN) have been given an average recommendation of “Hold” by the fifteen brokerages that are presently covering the company, Marketbeat Ratings reports. One equities research analyst has rated the stock with a sell recommendation, eleven have issued a hold recommendation and three have given a buy recommendation to the company. The average 1-year target price among brokerages that have updated their coverage on the stock in the last year is $27.33.

A number of equities analysts have recently weighed in on OLN shares. The Goldman Sachs Group cut their price target on Olin from $33.00 to $25.00 and set a “neutral” rating for the company in a report on Tuesday, May 6th. Barclays cut their price target on Olin from $28.00 to $24.00 and set an “equal weight” rating for the company in a report on Wednesday, May 28th. Morgan Stanley cut their price target on Olin from $28.00 to $20.00 and set an “underweight” rating for the company in a report on Monday, May 12th. Wells Fargo & Company boosted their price target on Olin from $19.00 to $22.00 and gave the stock an “equal weight” rating in a report on Tuesday, May 6th. Finally, Citigroup cut their price target on Olin from $26.00 to $25.00 and set a “buy” rating for the company in a report on Tuesday, July 8th.

Institutional Investors Weigh In On Olin

A number of institutional investors have recently added to or reduced their stakes in OLN. Raymond James Financial Inc. purchased a new stake in Olin during the fourth quarter valued at about $6,779,000. HighTower Advisors LLC grew its position in Olin by 44.4% during the fourth quarter. HighTower Advisors LLC now owns 12,006 shares of the specialty chemicals company’s stock valued at $406,000 after acquiring an additional 3,692 shares during the period. Madison Investment Advisors LLC purchased a new stake in Olin during the fourth quarter valued at about $3,318,000. Natixis Advisors LLC purchased a new stake in Olin during the fourth quarter valued at about $431,000. Finally, Corient Private Wealth LLC grew its position in Olin by 6.8% during the fourth quarter. Corient Private Wealth LLC now owns 21,724 shares of the specialty chemicals company’s stock valued at $734,000 after acquiring an additional 1,374 shares during the period. Hedge funds and other institutional investors own 88.67% of the company’s stock.

Olin Stock Down 1.4%

OLN opened at $20.45 on Thursday. The business’s fifty day moving average is $20.71 and its two-hundred day moving average is $24.34. The company has a debt-to-equity ratio of 1.48, a quick ratio of 0.96 and a current ratio of 1.56. The company has a market cap of $2.35 billion, a price-to-earnings ratio of 40.10 and a beta of 1.52. Olin has a one year low of $17.66 and a one year high of $50.75.

Olin (NYSE:OLN) last posted its earnings results on Thursday, May 1st. The specialty chemicals company reported $0.04 EPS for the quarter, topping analysts’ consensus estimates of ($0.10) by $0.14. The company had revenue of $1.64 billion for the quarter, compared to the consensus estimate of $1.58 billion. Olin had a return on equity of 3.13% and a net margin of 0.94%. Olin’s quarterly revenue was up 1.2% compared to the same quarter last year. During the same period in the previous year, the business earned $0.40 earnings per share. Analysts anticipate that Olin will post 1.38 EPS for the current fiscal year.

Olin Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, June 13th. Shareholders of record on Thursday, May 15th were given a dividend of $0.20 per share. This represents a $0.80 dividend on an annualized basis and a yield of 3.91%. The ex-dividend date of this dividend was Thursday, May 15th. Olin’s dividend payout ratio (DPR) is presently 156.86%.

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.