Olin (NYSE:OLN) Given New $23.00 Price Target at Mizuho

Olin (NYSE:OLN) had its target price lowered by Mizuho from $24.00 to $23.00 in a research note released on Tuesday,Benzinga reports. The brokerage currently has a neutral rating on the specialty chemicals company’s stock.

A number of other research analysts have also recently issued reports on OLN. Wells Fargo & Company increased their target price on shares of Olin from $19.00 to $22.00 and gave the company an “equal weight” rating in a report on Tuesday, May 6th. Barclays dropped their target price on shares of Olin from $28.00 to $24.00 and set an “equal weight” rating for the company in a report on Wednesday, May 28th. Citigroup dropped their target price on shares of Olin from $26.00 to $25.00 and set a “buy” rating for the company in a report on Tuesday, July 8th. KeyCorp dropped their target price on shares of Olin from $34.00 to $32.00 and set an “overweight” rating for the company in a report on Monday, July 14th. Finally, Royal Bank Of Canada lowered their price target on shares of Olin from $25.00 to $23.00 and set a “sector perform” rating on the stock in a research report on Thursday, July 3rd. Two investment analysts have rated the stock with a sell rating, ten have issued a hold rating and three have given a buy rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Hold” and a consensus price target of $25.71.

Olin Trading Up 5.3%

Shares of Olin stock opened at $21.93 on Tuesday. Olin has a 12-month low of $17.66 and a 12-month high of $49.60. The company has a current ratio of 1.56, a quick ratio of 0.96 and a debt-to-equity ratio of 1.48. The stock has a market cap of $2.52 billion, a PE ratio of -182.71 and a beta of 1.52. The company has a 50-day moving average of $20.64 and a two-hundred day moving average of $23.56.

Olin (NYSE:OLN) last issued its earnings results on Thursday, May 1st. The specialty chemicals company reported $0.04 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.10) by $0.14. Olin had a negative net margin of 0.21% and a negative return on equity of 0.13%. The company had revenue of $1.64 billion during the quarter, compared to analysts’ expectations of $1.58 billion. During the same period last year, the company posted $0.40 earnings per share. The firm’s quarterly revenue was up 1.2% compared to the same quarter last year. On average, research analysts anticipate that Olin will post 1.38 EPS for the current fiscal year.

Olin Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, June 13th. Investors of record on Thursday, May 15th were given a dividend of $0.20 per share. The ex-dividend date of this dividend was Thursday, May 15th. This represents a $0.80 dividend on an annualized basis and a yield of 3.65%. Olin’s dividend payout ratio (DPR) is currently 156.86%.

Institutional Trading of Olin

Hedge funds have recently bought and sold shares of the company. Fifth Third Bancorp boosted its position in 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 acquiring an additional 743 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. acquired a new stake in Olin during the first quarter worth approximately $31,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. acquired a new stake in Olin during the first quarter worth approximately $32,000. Covestor Ltd boosted its position in Olin by 45.8% during the fourth quarter. Covestor Ltd now owns 1,334 shares of the specialty chemicals company’s stock worth $45,000 after acquiring an additional 419 shares during the last quarter. Finally, Allworth Financial LP boosted its position in Olin by 188.5% during 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. Institutional investors and hedge funds own 88.67% of the company’s stock.

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.