Truist Financial Issues Positive Forecast for Olin (NYSE:OLN) Stock Price

Olin (NYSE:OLN) had its price objective increased by Truist Financial from $21.00 to $23.00 in a research report sent to investors on Wednesday morning, Marketbeat reports. Truist Financial currently has a hold rating on the specialty chemicals company’s stock.

Several other research firms have also issued reports on OLN. Citigroup lifted their price target on Olin from $21.00 to $24.00 and gave the stock a “neutral” rating in a research report on Tuesday, January 13th. Fermium Researc raised shares of Olin to a “strong-buy” rating in a research report on Thursday, September 25th. Royal Bank Of Canada lifted their target price on shares of Olin from $22.00 to $24.00 and gave the stock a “sector perform” rating in a report on Friday, January 16th. Bank of America upped their target price on shares of Olin from $25.00 to $30.00 and gave the stock a “buy” rating in a research note on Tuesday, October 14th. Finally, BMO Capital Markets set a $25.00 price target on shares of Olin in a report on Friday, January 9th. One investment analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating, eleven have issued a Hold rating and two have issued a Sell rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and an average price target of $24.29.

Olin Stock Performance

Shares of OLN opened at $23.83 on Wednesday. The company has a quick ratio of 0.89, a current ratio of 1.56 and a debt-to-equity ratio of 1.49. The stock has a market cap of $2.72 billion, a P/E ratio of 51.79, a P/E/G ratio of 2.86 and a beta of 1.64. The business’s 50 day moving average price is $21.23 and its 200-day moving average price is $21.98. Olin has a 52 week low of $17.66 and a 52 week high of $34.52.

Olin (NYSE:OLN) last posted its quarterly earnings data on Monday, October 27th. The specialty chemicals company reported $0.40 earnings per share for the quarter, beating analysts’ consensus estimates of $0.09 by $0.31. Olin had a return on equity of 3.36% and a net margin of 0.79%.The company had revenue of $1.71 billion during the quarter, compared to analyst estimates of $1.74 billion. During the same quarter last year, the company earned ($0.21) EPS. The firm’s revenue for the quarter was up 7.8% on a year-over-year basis. Equities research analysts anticipate that Olin will post 1.38 earnings per share for the current fiscal year.

Olin Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, December 12th. Shareholders of record on Friday, November 28th were given a $0.20 dividend. This represents a $0.80 dividend on an annualized basis and a yield of 3.4%. The ex-dividend date of this dividend was Friday, November 28th. Olin’s payout ratio is 173.91%.

Insider Buying and Selling at Olin

In other news, VP Teresa M. Vermillion sold 4,500 shares of the stock in a transaction on Wednesday, November 26th. The stock was sold at an average price of $20.86, for a total transaction of $93,870.00. Following the transaction, the vice president directly owned 17,199 shares of the company’s stock, valued at $358,771.14. This represents a 20.74% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. 1.60% of the stock is owned by insiders.

Institutional Trading of Olin

A number of hedge funds have recently bought and sold shares of the company. ARGA Investment Management LP lifted its holdings in Olin by 0.9% in the third quarter. ARGA Investment Management LP now owns 60,359 shares of the specialty chemicals company’s stock valued at $1,508,000 after acquiring an additional 546 shares during the period. Wilmington Savings Fund Society FSB increased its position in shares of Olin by 9.9% during the 3rd quarter. Wilmington Savings Fund Society FSB now owns 6,412 shares of the specialty chemicals company’s stock valued at $160,000 after purchasing an additional 579 shares during the last quarter. FORA Capital LLC increased its position in shares of Olin by 2.6% during the 2nd quarter. FORA Capital LLC now owns 24,453 shares of the specialty chemicals company’s stock valued at $491,000 after purchasing an additional 625 shares during the last quarter. VIRGINIA RETIREMENT SYSTEMS ET Al lifted its stake in shares of Olin by 1.1% in the 3rd quarter. VIRGINIA RETIREMENT SYSTEMS ET Al now owns 62,678 shares of the specialty chemicals company’s stock worth $1,566,000 after purchasing an additional 700 shares during the period. Finally, NewEdge Advisors LLC lifted its stake in shares of Olin by 45.0% in the 3rd quarter. NewEdge Advisors LLC now owns 2,323 shares of the specialty chemicals company’s stock worth $58,000 after purchasing an additional 721 shares during the period. Hedge funds and other institutional investors own 88.67% of the company’s stock.

Olin Company Profile

Olin Corporation is a diversified manufacturer specializing in chemical products and ammunition. The company’s core business activities encompass the production and distribution of chlor-alkali products, epoxy resins and derivatives, and small-caliber ammunition under the Winchester brand. Olin’s chemical operations supply chlorine, caustic soda and related co-products to a wide range of end markets, including water treatment, pulp and paper, pharmaceuticals and general industrial applications.

In its Chlor Alkali Products & Vinyls segment, Olin operates multiple manufacturing facilities that produce chlorine and sodium hydroxide, along with vinyl chloride monomer and polyvinyl chloride (PVC) compounds.