Olin (NYSE:OLN) Price Target Raised to $29.00

Olin (NYSE:OLN) had its price target increased by UBS Group from $21.00 to $29.00 in a research report released on Thursday, MarketBeat reports. They currently have a neutral rating on the specialty chemicals company’s stock.

Several other brokerages have also recently issued reports on OLN. Deutsche Bank Aktiengesellschaft reaffirmed a “hold” rating and set a $26.00 price objective on shares of Olin in a report on Tuesday, February 10th. Royal Bank Of Canada decreased their price objective on Olin from $24.00 to $21.00 and set a “sector perform” rating on the stock in a report on Monday, February 2nd. Weiss Ratings reissued a “sell (d+)” rating on shares of Olin in a research report on Thursday, January 22nd. Citigroup boosted their target price on Olin from $21.00 to $26.00 and gave the company a “neutral” rating in a research report on Thursday, March 12th. Finally, Wall Street Zen downgraded Olin from a “hold” rating to a “sell” rating in a research report on Saturday, January 10th. One investment analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating, ten have given a Hold rating and three have assigned a Sell rating to the company. According to MarketBeat.com, Olin has an average rating of “Hold” and an average price target of $25.64.

Olin Trading Up 2.0%

Shares of NYSE:OLN opened at $28.96 on Thursday. The stock has a 50 day moving average of $25.81 and a 200 day moving average of $23.32. The company has a current ratio of 1.21, a quick ratio of 0.73 and a debt-to-equity ratio of 1.45. Olin has a 12-month low of $18.08 and a 12-month high of $30.46. The company has a market cap of $3.30 billion, a PE ratio of -76.21 and a beta of 1.37.

Olin (NYSE:OLN) last posted its quarterly earnings results on Thursday, January 29th. The specialty chemicals company reported ($0.58) EPS for the quarter, hitting analysts’ consensus estimates of ($0.58). Olin had a negative return on equity of 0.48% and a negative net margin of 0.63%.The company had revenue of $1.67 billion for the quarter, compared to analysts’ expectations of $1.61 billion. During the same period in the previous year, the firm earned $0.09 EPS. The firm’s revenue was down .4% compared to the same quarter last year. As a group, equities research analysts expect that Olin will post 1.38 EPS for the current year.

Olin Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, March 13th. Shareholders of record on Tuesday, March 3rd were given a $0.20 dividend. This represents a $0.80 annualized dividend and a yield of 2.8%. The ex-dividend date of this dividend was Tuesday, March 3rd. Olin’s dividend payout ratio is -210.53%.

Insider Buying and Selling at Olin

In other Olin news, VP Angela M. Castle sold 2,379 shares of the company’s stock in a transaction on Tuesday, February 24th. The stock was sold at an average price of $24.25, for a total value of $57,690.75. Following the transaction, the vice president owned 1,528 shares of the company’s stock, valued at $37,054. This represents a 60.89% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, VP R Nichole Sumner sold 4,750 shares of the company’s stock in a transaction on Tuesday, February 3rd. The shares were sold at an average price of $22.49, for a total value of $106,827.50. Following the completion of the transaction, the vice president directly owned 24,771 shares in the company, valued at $557,099.79. This trade represents a 16.09% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 99,379 shares of company stock valued at $2,238,298 in the last quarter. 1.60% of the stock is owned by insiders.

Hedge Funds Weigh In On Olin

A number of hedge funds and other institutional investors have recently made changes to their positions in the company. Covestor Ltd grew its position in shares of Olin by 10.6% during the 4th quarter. Covestor Ltd now owns 5,189 shares of the specialty chemicals company’s stock worth $108,000 after buying an additional 497 shares in the last quarter. ARGA Investment Management LP lifted its stake in shares of Olin by 0.9% during the 3rd quarter. ARGA Investment Management LP now owns 60,359 shares of the specialty chemicals company’s stock worth $1,508,000 after purchasing an additional 546 shares during the last quarter. Madison Asset Management LLC lifted its stake in shares of Olin by 0.6% during the 4th quarter. Madison Asset Management LLC now owns 97,616 shares of the specialty chemicals company’s stock worth $2,033,000 after purchasing an additional 555 shares during the last quarter. Wilmington Savings Fund Society FSB lifted its stake 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 worth $160,000 after purchasing an additional 579 shares during the last quarter. Finally, FORA Capital LLC lifted its stake 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 worth $491,000 after purchasing an additional 625 shares during the last quarter. Institutional investors own 88.67% of the company’s stock.

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.