Olin (NYSE:OLN) Price Target Lowered to $20.00 at Truist Financial

Olin (NYSE:OLN) had its price objective lowered by Truist Financial from $23.00 to $20.00 in a report published on Monday, MarketBeat reports. The brokerage currently has a hold rating on the specialty chemicals company’s stock.

Other equities analysts have also recently issued reports about the stock. Zacks Research downgraded shares of Olin from a “hold” rating to a “strong sell” rating in a report on Thursday, January 29th. KeyCorp lowered their price objective on shares of Olin from $29.00 to $26.00 and set an “overweight” rating for the company in a research report on Monday. BMO Capital Markets set a $25.00 target price on Olin in a research note on Friday, January 9th. Mizuho set a $22.00 price target on Olin in a research note on Friday. Finally, Bank of America boosted their price target on Olin from $25.00 to $30.00 and gave the stock a “buy” rating in a report on Tuesday, October 14th. One equities research analyst has rated the stock with a Strong Buy rating, two have given a Buy rating, eleven have given a Hold rating and three have assigned a Sell rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Hold” and a consensus price target of $23.14.

Olin Price Performance

Shares of NYSE OLN opened at $22.18 on Monday. The business has a fifty day moving average price of $21.77 and a two-hundred day moving average price of $22.06. The stock has a market capitalization of $2.53 billion, a PE ratio of -58.36, a P/E/G ratio of 3.08 and a beta of 1.64. The company has a debt-to-equity ratio of 1.46, a current ratio of 1.35 and a quick ratio of 0.81. Olin has a fifty-two week low of $17.66 and a fifty-two week high of $28.77.

Olin (NYSE:OLN) last issued 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). The company had revenue of $1.67 billion for the quarter, compared to analysts’ expectations of $1.61 billion. Olin had a negative return on equity of 0.47% and a negative net margin of 0.63%.Olin’s revenue was down .4% on a year-over-year basis. During the same quarter last year, the business earned $0.09 earnings per share. As a group, equities analysts predict that Olin will post 1.38 earnings per share for the current fiscal year.

Olin Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, December 12th. Shareholders of record on Friday, November 28th 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 Friday, November 28th. Olin’s dividend payout ratio is presently -210.53%.

Insider Activity at Olin

In other news, VP Teresa M. Vermillion sold 4,500 shares of the business’s stock in a transaction dated Wednesday, November 26th. The stock was sold at an average price of $20.86, for a total transaction of $93,870.00. Following the sale, the vice president directly owned 17,199 shares in the company, valued at approximately $358,771.14. The trade was a 20.74% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Insiders own 1.60% of the company’s stock.

Institutional Investors Weigh In On Olin

Several hedge funds have recently added to or reduced their stakes in the business. Strategic Advocates LLC acquired a new position in Olin in the 3rd quarter valued at approximately $25,000. Evelyn Partners Investment Management LLP grew its stake in shares of Olin by 6,360.0% in the second quarter. Evelyn Partners Investment Management LLP now owns 1,615 shares of the specialty chemicals company’s stock worth $32,000 after purchasing an additional 1,590 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. acquired a new stake in Olin in the first quarter valued at $32,000. Bessemer Group Inc. raised its position in Olin by 712.7% during the 3rd quarter. Bessemer Group Inc. now owns 1,341 shares of the specialty chemicals company’s stock worth $34,000 after purchasing an additional 1,176 shares during the last quarter. Finally, Allworth Financial LP grew its position in shares of Olin by 114.0% in the 3rd quarter. Allworth Financial LP now owns 1,740 shares of the specialty chemicals company’s stock valued at $43,000 after buying an additional 927 shares during the last quarter. 88.67% of the stock is currently 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.