Wells Fargo & Company Issues Positive Forecast for Olin (NYSE:OLN) Stock Price

Olin (NYSE:OLN) had its target price hoisted by Wells Fargo & Company from $21.00 to $25.00 in a research note published on Tuesday morning,Benzinga reports. The firm currently has an equal weight rating on the specialty chemicals company’s stock.

OLN has been the subject of several other research reports. Weiss Ratings reiterated a “sell (d+)” rating on shares of Olin in a report on Saturday, September 27th. KeyCorp lowered their target price on shares of Olin from $32.00 to $31.00 and set an “overweight” rating for the company in a report on Wednesday, July 30th. Citigroup downgraded shares of Olin from a “buy” rating to a “neutral” rating and set a $25.00 target price for the company. in a report on Thursday, October 2nd. UBS Group increased their target price on shares of Olin from $21.00 to $24.00 and gave the company a “neutral” rating in a report on Monday. Finally, Mizuho set a $26.00 target price on shares of Olin in a report on Friday. One investment analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating, eleven have issued a Hold rating and two have issued a Sell rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $26.21.

Olin Stock Performance

OLN opened at $24.75 on Tuesday. The company has a current ratio of 1.48, a quick ratio of 0.88 and a debt-to-equity ratio of 1.50. The company’s fifty day moving average price is $22.89 and its two-hundred day moving average price is $21.74. Olin has a 1-year low of $17.66 and a 1-year high of $48.00. The company has a market cap of $2.84 billion, a price-to-earnings ratio of -206.24 and a beta of 1.68.

Olin (NYSE:OLN) last released its quarterly earnings data on Monday, July 28th. The specialty chemicals company reported $0.05 earnings per share for the quarter, missing the consensus estimate of $0.09 by ($0.04). Olin had a negative return on equity of 0.13% and a negative net margin of 0.21%.The business had revenue of $1.76 billion for the quarter, compared to analyst estimates of $1.68 billion. During the same quarter in the previous year, the company posted $0.62 EPS. The business’s quarterly revenue was up 7.0% on a year-over-year basis. On average, analysts expect that Olin will post 1.38 EPS for the current fiscal year.

Olin Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, September 12th. Shareholders of record on Thursday, August 28th were given a dividend of $0.20 per share. This represents a $0.80 dividend on an annualized basis and a yield of 3.2%. The ex-dividend date was Thursday, August 28th. Olin’s dividend payout ratio (DPR) is currently -666.67%.

Insiders Place Their Bets

In other Olin news, VP Teresa M. Vermillion sold 6,000 shares of the stock in a transaction dated Wednesday, August 13th. The shares were sold at an average price of $21.11, for a total transaction of $126,660.00. Following the completion of the transaction, the vice president owned 17,199 shares in the company, valued at $363,070.89. This trade represents a 25.86% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 1.70% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Olin

A number of institutional investors and hedge funds have recently added to or reduced their stakes in OLN. GAMMA Investing LLC boosted its position in Olin by 2,268.4% during the first quarter. GAMMA Investing LLC now owns 26,834 shares of the specialty chemicals company’s stock worth $650,000 after purchasing an additional 25,701 shares during the period. Wedge Capital Management L L P NC boosted its position in Olin by 36.8% during the first quarter. Wedge Capital Management L L P NC now owns 80,901 shares of the specialty chemicals company’s stock worth $1,961,000 after purchasing an additional 21,767 shares during the period. First Citizens Bank & Trust Co. lifted its holdings in shares of Olin by 48.3% in the first quarter. First Citizens Bank & Trust Co. now owns 10,278 shares of the specialty chemicals company’s stock worth $249,000 after buying an additional 3,348 shares in the last quarter. Farther Finance Advisors LLC lifted its holdings in shares of Olin by 183.8% in 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 in the last quarter. Finally, Harbor Capital Advisors Inc. lifted its holdings in shares of Olin by 73.7% in the first quarter. Harbor Capital Advisors Inc. now owns 248,466 shares of the specialty chemicals company’s stock worth $6,023,000 after buying an additional 105,404 shares in the last quarter. 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.