Olin (NYSE:OLN) Stock Price Expected to Rise, Wells Fargo & Company Analyst Says

Olin (NYSE:OLN) had its price objective lifted by Wells Fargo & Company from $19.00 to $22.00 in a report issued on Tuesday,Benzinga reports. The brokerage currently has an equal weight rating on the specialty chemicals company’s stock.

OLN has been the subject of several other research reports. Mizuho set a $23.00 price objective on shares of Olin in a research note on Tuesday, April 15th. Truist Financial cut their price target on shares of Olin from $25.00 to $24.00 and set a “hold” rating on the stock in a research note on Monday. Piper Sandler reduced their price target on Olin from $33.00 to $26.00 and set a “neutral” rating for the company in a research report on Monday, April 7th. Citigroup reduced their price target on shares of Olin from $34.00 to $30.00 and set a “buy” rating for the company in a research report on Thursday, March 27th. Finally, JPMorgan Chase & Co. cut shares of Olin from an “overweight” rating to a “neutral” rating and cut their price objective for the stock from $50.00 to $28.00 in a research report on Thursday, February 27th. One research analyst has rated the stock with a sell rating, eleven have issued a hold rating and three have given a buy rating to the company. According to MarketBeat, Olin currently has an average rating of “Hold” and a consensus price target of $28.60.

Olin Stock Performance

Shares of OLN stock opened at $21.41 on Tuesday. Olin has a 12 month low of $17.66 and a 12 month high of $57.10. The company has a current ratio of 1.27, a quick ratio of 0.77 and a debt-to-equity ratio of 1.32. The stock has a market cap of $2.46 billion, a PE ratio of 23.78 and a beta of 1.56. The company’s fifty day moving average price is $22.52 and its 200-day moving average price is $30.98.

Olin (NYSE:OLN) last released its quarterly earnings results on Thursday, May 1st. The specialty chemicals company reported $0.04 EPS for the quarter, beating the consensus estimate of ($0.10) by $0.14. Olin had a net margin of 1.66% and a return on equity of 5.10%. The firm had revenue of $1.64 billion during the quarter, compared to analyst estimates of $1.58 billion. During the same quarter in the prior year, the firm earned $0.40 EPS. The business’s revenue for the quarter was up 1.2% compared to the same quarter last year. On average, equities analysts expect that Olin will post 1.38 EPS for the current fiscal year.

Olin Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, June 13th. Stockholders of record on Thursday, May 15th will be issued a dividend of $0.20 per share. The ex-dividend date is Thursday, May 15th. This represents a $0.80 dividend on an annualized basis and a dividend yield of 3.74%. Olin’s dividend payout ratio (DPR) is presently 156.86%.

Institutional Trading of Olin

A number of institutional investors and hedge funds have recently modified their holdings of OLN. Thrivent Financial for Lutherans lifted its holdings in Olin by 5,746.2% during the 4th quarter. Thrivent Financial for Lutherans now owns 1,613,796 shares of the specialty chemicals company’s stock valued at $54,546,000 after purchasing an additional 1,586,192 shares during the last quarter. Norges Bank bought a new stake in shares of Olin during the fourth quarter worth $47,887,000. Fuller & Thaler Asset Management Inc. grew its position in Olin by 11.5% in the fourth quarter. Fuller & Thaler Asset Management Inc. now owns 4,543,844 shares of the specialty chemicals company’s stock valued at $153,582,000 after purchasing an additional 467,680 shares in the last quarter. Two Sigma Investments LP boosted its holdings in shares of Olin by 890.4% in the 4th quarter. Two Sigma Investments LP now owns 451,020 shares of the specialty chemicals company’s stock valued at $15,244,000 after buying an additional 405,480 shares during the last quarter. Finally, Marshall Wace LLP raised its stake in Olin by 1,960.7% in the fourth quarter. Marshall Wace LLP now owns 344,962 shares of the specialty chemicals company’s stock valued at $11,660,000 after buying an additional 328,222 shares during the period. 88.67% of the stock is currently owned by institutional investors.

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.