Royal Bank of Canada Raises Olin (NYSE:OLN) Price Target to $69.00

Olin (NYSE:OLNFree Report) had its price target lifted by Royal Bank of Canada from $64.00 to $69.00 in a report published on Friday, Benzinga reports. Royal Bank of Canada currently has an outperform rating on the specialty chemicals company’s stock.

Other equities research analysts have also recently issued reports about the stock. UBS Group lifted their price objective on shares of Olin from $56.00 to $58.00 and gave the stock a neutral rating in a research report on Friday, January 26th. Barclays boosted their price target on shares of Olin from $57.00 to $59.00 and gave the company an equal weight rating in a research report on Thursday, April 4th. The Goldman Sachs Group boosted their price target on shares of Olin from $55.00 to $61.00 and gave the company a neutral rating in a research report on Tuesday, January 30th. KeyCorp boosted their price target on shares of Olin from $66.00 to $78.00 and gave the company an overweight rating in a research report on Tuesday, April 9th. Finally, Wells Fargo & Company boosted their price target on shares of Olin from $56.00 to $60.00 and gave the company an equal weight rating in a research report on Wednesday, April 3rd. Two research analysts have rated the stock with a sell rating, eight have assigned a hold rating and five have given a buy rating to the company. According to MarketBeat, the stock has a consensus rating of Hold and a consensus target price of $59.33.

Get Our Latest Report on OLN

Olin Stock Performance

Shares of OLN stock opened at $53.59 on Friday. The stock has a market capitalization of $6.41 billion, a PE ratio of 15.14, a P/E/G ratio of 0.29 and a beta of 1.44. The firm has a 50 day moving average of $55.48 and a two-hundred day moving average of $51.47. Olin has a 52 week low of $41.71 and a 52 week high of $60.60. The company has a quick ratio of 0.73, a current ratio of 1.29 and a debt-to-equity ratio of 1.14.

Olin (NYSE:OLNGet Free Report) last released its quarterly earnings data on Thursday, January 25th. The specialty chemicals company reported $0.30 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.20 by $0.10. The business had revenue of $1.61 billion during the quarter, compared to analysts’ expectations of $1.50 billion. Olin had a net margin of 6.74% and a return on equity of 18.44%. On average, research analysts predict that Olin will post 3.75 EPS for the current fiscal year.

Olin Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, March 15th. Stockholders of record on Thursday, March 7th were paid a dividend of $0.20 per share. The ex-dividend date of this dividend was Wednesday, March 6th. This represents a $0.80 dividend on an annualized basis and a dividend yield of 1.49%. Olin’s dividend payout ratio (DPR) is 22.60%.

Insider Transactions at Olin

In other news, CFO Todd A. Slater sold 63,250 shares of the business’s stock in a transaction dated Tuesday, January 30th. The shares were sold at an average price of $54.15, for a total transaction of $3,424,987.50. Following the transaction, the chief financial officer now directly owns 137,517 shares in the company, valued at $7,446,545.55. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. In other Olin news, CFO Todd A. Slater sold 63,250 shares of the company’s stock in a transaction dated Tuesday, January 30th. The shares were sold at an average price of $54.15, for a total transaction of $3,424,987.50. Following the transaction, the chief financial officer now directly owns 137,517 shares in the company, valued at $7,446,545.55. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, VP Valerie A. Peters sold 71,800 shares of the company’s stock in a transaction dated Wednesday, January 31st. The stock was sold at an average price of $52.52, for a total transaction of $3,770,936.00. Following the transaction, the vice president now owns 19,469 shares in the company, valued at $1,022,511.88. The disclosure for this sale can be found here. Insiders have sold a total of 753,274 shares of company stock worth $40,434,124 over the last ninety days. 1.60% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Baystate Wealth Management LLC lifted its holdings in shares of Olin by 154.6% in the third quarter. Baystate Wealth Management LLC now owns 494 shares of the specialty chemicals company’s stock valued at $25,000 after purchasing an additional 300 shares in the last quarter. Salem Investment Counselors Inc. purchased a new stake in shares of Olin in the first quarter valued at about $26,000. Covestor Ltd lifted its holdings in shares of Olin by 76.7% in the third quarter. Covestor Ltd now owns 659 shares of the specialty chemicals company’s stock valued at $33,000 after purchasing an additional 286 shares in the last quarter. Sandy Spring Bank lifted its holdings in shares of Olin by 145.6% in the fourth quarter. Sandy Spring Bank now owns 614 shares of the specialty chemicals company’s stock valued at $33,000 after purchasing an additional 364 shares in the last quarter. Finally, Quarry LP lifted its holdings in shares of Olin by 508.6% in the first quarter. Quarry LP now owns 706 shares of the specialty chemicals company’s stock valued at $39,000 after purchasing an additional 590 shares in the last quarter. 88.67% of the stock is currently owned by institutional investors and hedge funds.

Olin Company Profile

(Get Free Report)

Olin Corporation manufactures and distributes chemical products in the United States, Europe, Asia Pacific, Latin America, and Canada. It operates through three segments: Chlor Alkali Products and Vinyls; Epoxy; and Winchester. The Chlor Alkali Products and Vinyls segment offers chlorine and caustic soda, ethylene dichloride and vinyl chloride monomers, methyl chloride, methylene chloride, chloroform, carbon tetrachloride, perchloroethylene, hydrochloric acid, hydrogen, bleach products, potassium hydroxide, and chlorinated organics intermediates and solvents.

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Analyst Recommendations for Olin (NYSE:OLN)

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