Olin (NYSE:OLN) Given New $24.00 Price Target at Truist Financial

Olin (NYSE:OLN) had its target price decreased by Truist Financial from $26.00 to $24.00 in a research report report published on Monday morning,Benzinga reports. Truist Financial currently has a hold rating on the specialty chemicals company’s stock.

Other research analysts have also recently issued research reports about the company. BMO Capital Markets decreased their target price on Olin from $30.00 to $25.00 and set a “market perform” rating on the stock in a research report on Monday, July 6th. Weiss Ratings reissued a “sell (d)” rating on shares of Olin in a report on Friday, May 22nd. Citigroup downgraded shares of Olin from a “neutral” rating to an “underperform” rating in a research note on Tuesday, June 30th. Wells Fargo & Company reaffirmed an “overweight” rating and set a $37.00 price target on shares of Olin in a report on Sunday, May 10th. Finally, JPMorgan Chase & Co. lowered their price objective on shares of Olin from $26.00 to $25.00 and set a “neutral” rating for the company in a research report on Thursday, June 18th. One investment analyst has rated the stock with a Strong Buy rating, two have given a Buy rating, nine have given a Hold rating and four have given a Sell rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Hold” and an average price target of $26.46.

Olin Price Performance

Olin stock opened at $22.21 on Monday. The company has a debt-to-equity ratio of 1.73, a quick ratio of 0.82 and a current ratio of 1.36. Olin has a 52 week low of $18.08 and a 52 week high of $30.46. The stock has a market capitalization of $2.53 billion, a P/E ratio of -19.83 and a beta of 1.21. The stock has a fifty day moving average of $23.55 and a 200-day moving average of $24.74.

Olin Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, June 12th. Shareholders of record on Thursday, May 14th were issued a $0.20 dividend. This represents a $0.80 dividend on an annualized basis and a yield of 3.6%. The ex-dividend date of this dividend was Thursday, May 14th. Olin’s dividend payout ratio is presently -71.43%.

Institutional Trading of Olin

A number of hedge funds have recently made changes to their positions in the company. Arlington Trust Co LLC bought a new stake in shares of Olin during the second quarter worth about $140,000. Glenmede Trust Co. NA acquired a new position in shares of Olin in the first quarter valued at approximately $206,000. Segall Bryant & Hamill LLC bought a new position in Olin in the 1st quarter valued at approximately $14,770,000. Edgestream Partners L.P. bought a new position in Olin in the 1st quarter valued at approximately $6,894,000. Finally, Sunbelt Securities Inc. acquired a new stake in Olin during the 1st quarter worth approximately $45,000. 88.67% of the stock is owned by institutional investors and hedge funds.

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.