Olin (NYSE:OLN) Price Target Lowered to $21.00 at Citigroup

Olin (NYSE:OLN) had its target price cut by Citigroup from $24.00 to $21.00 in a research report report published on Tuesday morning,Benzinga reports. They currently have a neutral rating on the specialty chemicals company’s stock.

Several other analysts have also commented on OLN. Wells Fargo & Company lowered their price objective on shares of Olin from $25.00 to $22.00 and set an “equal weight” rating for the company in a report on Wednesday, October 29th. Truist Financial lowered their target price on Olin from $23.00 to $20.00 and set a “hold” rating for the company in a research note on Monday. Zacks Research lowered Olin from a “hold” rating to a “strong sell” rating in a research report on Thursday, January 29th. BMO Capital Markets reduced their price target on Olin from $25.00 to $24.00 and set a “market perform” rating on the stock in a research note on Tuesday. Finally, Mizuho set a $22.00 price objective on Olin in a research report on Friday. One research analyst has rated the stock with a Strong Buy rating, two have given a Buy rating, eleven have assigned a Hold rating and three have given a Sell rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average price target of $22.86.

Olin Stock Performance

NYSE:OLN opened at $22.88 on Tuesday. The stock has a market cap of $2.61 billion, a P/E ratio of -60.20, a price-to-earnings-growth ratio of 3.28 and a beta of 1.64. The firm’s fifty day simple moving average is $21.82 and its 200 day simple moving average is $22.08. Olin has a twelve month low of $17.66 and a twelve month high of $28.77. The company has a quick ratio of 0.81, a current ratio of 1.35 and a debt-to-equity ratio of 1.46.

Olin (NYSE:OLN) last issued its quarterly earnings data on Thursday, January 29th. The specialty chemicals company reported ($0.58) EPS for the quarter, hitting the consensus estimate of ($0.58). Olin had a negative net margin of 0.63% and a negative return on equity of 0.47%. The business had revenue of $1.67 billion during the quarter, compared to analyst estimates of $1.61 billion. During the same period in the prior year, the business earned $0.09 EPS. The company’s revenue for the quarter was down .4% on a year-over-year basis. As a group, research analysts predict that Olin will post 1.38 EPS for the current year.

Olin Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, December 12th. Stockholders of record on Friday, November 28th were paid a $0.20 dividend. This represents a $0.80 dividend on an annualized basis and a dividend yield of 3.5%. The ex-dividend date of this dividend was Friday, November 28th. Olin’s dividend payout ratio is currently -210.53%.

Insider Buying and Selling at Olin

In other news, VP Teresa M. Vermillion sold 4,500 shares of Olin stock in a transaction dated Wednesday, November 26th. The stock was sold at an average price of $20.86, for a total value of $93,870.00. Following the completion of the transaction, the vice president owned 17,199 shares of the company’s stock, valued at $358,771.14. The trade was a 20.74% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 1.70% of the stock is owned by insiders.

Institutional Trading of Olin

A number of institutional investors and hedge funds have recently bought and sold shares of the company. Royal Bank of Canada lifted its stake in shares of Olin by 20.2% in the first quarter. Royal Bank of Canada now owns 85,198 shares of the specialty chemicals company’s stock worth $2,066,000 after buying an additional 14,344 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. purchased a new position in Olin in the 1st quarter worth approximately $32,000. Jones Financial Companies Lllp lifted its position in Olin by 467.9% in the 1st quarter. Jones Financial Companies Lllp now owns 13,805 shares of the specialty chemicals company’s stock valued at $335,000 after acquiring an additional 11,374 shares in the last quarter. Goldman Sachs Group Inc. lifted its position in Olin by 57.6% in the 1st quarter. Goldman Sachs Group Inc. now owns 588,602 shares of the specialty chemicals company’s stock valued at $14,268,000 after acquiring an additional 215,235 shares in the last quarter. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its stake in Olin by 6.7% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 317,472 shares of the specialty chemicals company’s stock valued at $7,696,000 after purchasing an additional 20,047 shares during the last quarter. 88.67% of the stock is currently owned by institutional investors.

About Olin

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.