Olin Co. (NYSE:OLN) Receives $52.40 Consensus Price Target from Brokerages

Olin Co. (NYSE:OLN) has received a consensus rating of “Hold” from the fifteen research firms that are presently covering the company, Marketbeat.com reports. One equities research analyst has rated the stock with a sell rating, eight have issued a hold rating and six have assigned a buy rating to the company. The average 12-month price objective among brokerages that have issued a report on the stock in the last year is $52.40.

A number of research firms have issued reports on OLN. Mizuho started coverage on Olin in a report on Thursday, August 8th. They issued a “neutral” rating and a $45.00 target price on the stock. JPMorgan Chase & Co. raised shares of Olin from a “neutral” rating to an “overweight” rating and set a $55.00 target price on the stock in a research report on Monday, July 29th. UBS Group reduced their price target on shares of Olin from $59.00 to $51.00 and set a “neutral” rating for the company in a report on Tuesday, July 9th. KeyCorp dropped their price objective on shares of Olin from $62.00 to $57.00 and set an “overweight” rating on the stock in a report on Monday, October 7th. Finally, Piper Sandler reduced their target price on shares of Olin from $75.00 to $57.00 and set an “overweight” rating for the company in a research note on Tuesday, July 30th.

Hedge Funds Weigh In On Olin

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Quarry LP bought a new position in shares of Olin in the fourth quarter valued at approximately $50,000. Goldman Sachs Group Inc. raised its position in Olin by 12.0% in the 4th quarter. Goldman Sachs Group Inc. now owns 468,175 shares of the specialty chemicals company’s stock valued at $25,258,000 after purchasing an additional 50,167 shares during the last quarter. Quadrature Capital Ltd boosted its stake in Olin by 108.7% in the fourth quarter. Quadrature Capital Ltd now owns 26,596 shares of the specialty chemicals company’s stock worth $1,435,000 after purchasing an additional 13,853 shares in the last quarter. GAMMA Investing LLC boosted its stake in Olin by 50.7% in the first quarter. GAMMA Investing LLC now owns 2,793 shares of the specialty chemicals company’s stock worth $164,000 after purchasing an additional 940 shares in the last quarter. Finally, First Hawaiian Bank increased its stake in shares of Olin by 7.0% in the first quarter. First Hawaiian Bank now owns 17,471 shares of the specialty chemicals company’s stock valued at $1,027,000 after buying an additional 1,140 shares in the last quarter. 88.67% of the stock is currently owned by institutional investors and hedge funds.

Olin Price Performance

Shares of Olin stock opened at $45.73 on Tuesday. The company has a current ratio of 1.43, a quick ratio of 0.82 and a debt-to-equity ratio of 1.29. The firm has a fifty day simple moving average of $44.57 and a 200-day simple moving average of $48.46. The stock has a market capitalization of $5.46 billion, a price-to-earnings ratio of 16.45, a PEG ratio of 1.03 and a beta of 1.41. Olin has a 1-year low of $39.47 and a 1-year high of $60.60.

Olin (NYSE:OLN) last released its earnings results on Thursday, July 25th. The specialty chemicals company reported $0.62 earnings per share for the quarter, missing analysts’ consensus estimates of $0.70 by ($0.08). The firm had revenue of $1.64 billion for the quarter, compared to analyst estimates of $1.71 billion. Olin had a return on equity of 11.73% and a net margin of 4.26%. The firm’s revenue was down 3.5% on a year-over-year basis. During the same period in the prior year, the firm earned $1.13 EPS. On average, sell-side analysts expect that Olin will post 1.61 earnings per share for the current year.

Olin Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, September 13th. Stockholders of record on Thursday, August 8th were issued a $0.20 dividend. This represents a $0.80 annualized dividend and a dividend yield of 1.75%. The ex-dividend date was Thursday, August 8th. Olin’s payout ratio is 28.78%.

About Olin

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.