Olin (NYSE:OLN) Given New $26.00 Price Target at Citigroup

Olin (NYSE:OLN) had its target price raised by Citigroup from $21.00 to $26.00 in a report issued on Thursday,Benzinga reports. The brokerage currently has a neutral rating on the specialty chemicals company’s stock.

Several other research analysts have also weighed in on OLN. Morgan Stanley decreased their price objective on shares of Olin from $20.00 to $18.00 and set an “underweight” rating for the company in a report on Monday, February 2nd. KeyCorp reduced their price target on shares of Olin from $29.00 to $26.00 and set an “overweight” rating on the stock in a research report on Monday, February 2nd. Mizuho lifted their price target on Olin from $22.00 to $24.00 and gave the stock a “neutral” rating in a research note on Tuesday, February 17th. Deutsche Bank Aktiengesellschaft reissued a “hold” rating and issued a $26.00 price objective on shares of Olin in a report on Tuesday, February 10th. Finally, Royal Bank Of Canada reduced their target price on Olin from $24.00 to $21.00 and set a “sector perform” rating on the stock in a report on Monday, February 2nd. One investment analyst has rated the stock with a Strong Buy rating, two have given a Buy rating, twelve have issued a Hold rating and three have assigned a Sell rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Hold” and an average target price of $23.53.

Olin Stock Performance

Olin stock opened at $26.11 on Thursday. Olin has a 52 week low of $17.66 and a 52 week high of $27.35. The company has a current ratio of 1.21, a quick ratio of 0.73 and a debt-to-equity ratio of 1.45. The stock has a market cap of $2.97 billion, a P/E ratio of -68.70 and a beta of 1.56. The stock has a 50 day moving average of $23.84 and a 200-day moving average of $22.86.

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

Olin Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, March 13th. Investors of record on Tuesday, March 3rd will be issued a $0.20 dividend. This represents a $0.80 dividend on an annualized basis and a yield of 3.1%. The ex-dividend date of this dividend is Tuesday, March 3rd. Olin’s dividend payout ratio is -210.53%.

Insider Activity at Olin

In related news, CFO Todd A. Slater sold 92,250 shares of the firm’s stock in a transaction that occurred on Tuesday, February 3rd. The shares were sold at an average price of $22.48, for a total transaction of $2,073,780.00. Following the transaction, the chief financial officer owned 44,291 shares in the company, valued at $995,661.68. This trade represents a 67.56% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, VP Angela M. Castle sold 2,379 shares of Olin stock in a transaction on Tuesday, February 24th. The shares were 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 in the company, valued at approximately $37,054. This trade represents a 60.89% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 99,379 shares of company stock worth $2,238,298 in the last three months. 1.60% of the stock is owned by company insiders.

Institutional Investors Weigh In On Olin

Institutional investors and hedge funds have recently bought and sold shares of the business. Hotchkis & Wiley Capital Management LLC grew its position in Olin by 5.5% in the third quarter. Hotchkis & Wiley Capital Management LLC now owns 12,690,488 shares of the specialty chemicals company’s stock worth $317,135,000 after buying an additional 661,730 shares during the last quarter. State Street Corp lifted its position in shares of Olin by 1.1% during the 2nd quarter. State Street Corp now owns 4,830,406 shares of the specialty chemicals company’s stock valued at $97,043,000 after acquiring an additional 50,309 shares during the last quarter. Dimensional Fund Advisors LP boosted its stake in shares of Olin by 3.3% during the 4th quarter. Dimensional Fund Advisors LP now owns 4,596,499 shares of the specialty chemicals company’s stock worth $95,746,000 after acquiring an additional 145,424 shares in the last quarter. Pzena Investment Management LLC boosted its stake in shares of Olin by 17.5% during the 4th quarter. Pzena Investment Management LLC now owns 4,507,913 shares of the specialty chemicals company’s stock worth $93,900,000 after acquiring an additional 671,250 shares in the last quarter. Finally, Orbis Allan Gray Ltd grew its holdings in shares of Olin by 448.9% in the 4th quarter. Orbis Allan Gray Ltd now owns 3,804,561 shares of the specialty chemicals company’s stock worth $79,249,000 after acquiring an additional 3,111,393 shares during the last quarter. 88.67% of the stock is owned by institutional investors and hedge funds.

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.