Olin Corporation (NYSE:OLN) Receives $25.00 Average PT from Brokerages

Olin Corporation (NYSE:OLN) has earned a consensus recommendation of “Hold” from the sixteen brokerages that are currently covering the stock, Marketbeat.com reports. Two investment analysts have rated the stock with a sell recommendation, eleven have assigned a hold recommendation, two have given a buy recommendation and one has issued a strong buy recommendation on the company. The average twelve-month price objective among analysts that have updated their coverage on the stock in the last year is $24.7143.

Several equities research analysts recently issued reports on OLN shares. KeyCorp decreased their price target on Olin from $30.00 to $29.00 and set an “overweight” rating for the company in a report on Wednesday, October 29th. Mizuho set a $26.00 price target on shares of Olin in a research report on Friday, October 3rd. Weiss Ratings restated a “sell (d+)” rating on shares of Olin in a report on Wednesday, October 8th. Bank of America lifted their target price on shares of Olin from $25.00 to $30.00 and gave the stock a “buy” rating in a research report on Tuesday, October 14th. Finally, Citigroup cut their target price on Olin from $23.00 to $21.00 and set a “neutral” rating on the stock in a research note on Thursday.

Insider Buying and Selling at Olin

In related news, VP Teresa M. Vermillion sold 4,500 shares of the business’s stock in a transaction dated Wednesday, November 26th. The shares were sold at an average price of $20.86, for a total value of $93,870.00. Following the transaction, the vice president directly owned 17,199 shares of the company’s stock, valued at approximately $358,771.14. The trade was a 20.74% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Company insiders own 1.60% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of the stock. ARGA Investment Management LP raised its holdings in shares of Olin by 0.9% in the 3rd quarter. ARGA Investment Management LP now owns 60,359 shares of the specialty chemicals company’s stock worth $1,508,000 after purchasing an additional 546 shares during the period. Wilmington Savings Fund Society FSB raised its stake in shares of Olin by 9.9% in the third quarter. Wilmington Savings Fund Society FSB now owns 6,412 shares of the specialty chemicals company’s stock valued at $160,000 after buying an additional 579 shares during the period. FORA Capital LLC lifted its position in shares of Olin by 2.6% during the 2nd quarter. FORA Capital LLC now owns 24,453 shares of the specialty chemicals company’s stock valued at $491,000 after buying an additional 625 shares during the last quarter. VIRGINIA RETIREMENT SYSTEMS ET Al lifted its position in shares of Olin by 1.1% during the 3rd quarter. VIRGINIA RETIREMENT SYSTEMS ET Al now owns 62,678 shares of the specialty chemicals company’s stock valued at $1,566,000 after buying an additional 700 shares during the last quarter. Finally, NewEdge Advisors LLC grew its stake in shares of Olin by 45.0% during the 3rd quarter. NewEdge Advisors LLC now owns 2,323 shares of the specialty chemicals company’s stock worth $58,000 after acquiring an additional 721 shares during the period. 88.67% of the stock is owned by institutional investors.

Olin Stock Up 1.4%

Olin stock opened at $20.60 on Friday. Olin has a 1-year low of $17.66 and a 1-year high of $34.76. The firm has a market capitalization of $2.35 billion, a price-to-earnings ratio of 44.78, a price-to-earnings-growth ratio of 6.67 and a beta of 1.66. The firm’s fifty day moving average price is $21.17 and its two-hundred day moving average price is $21.72. The company has a current ratio of 1.56, a quick ratio of 0.89 and a debt-to-equity ratio of 1.49.

Olin (NYSE:OLN) last posted its earnings results on Monday, October 27th. The specialty chemicals company reported $0.40 earnings per share for the quarter, topping analysts’ consensus estimates of $0.09 by $0.31. Olin had a net margin of 0.79% and a return on equity of 3.36%. The company had revenue of $1.71 billion for the quarter, compared to analyst estimates of $1.74 billion. During the same quarter in the prior year, the business posted ($0.21) EPS. The firm’s revenue was up 7.8% compared to the same quarter last year. On average, equities research analysts predict that Olin will post 1.38 earnings per share for the current fiscal year.

Olin Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, December 12th. Stockholders of record on Friday, November 28th were paid a dividend of $0.20 per share. This represents a $0.80 dividend on an annualized basis and a dividend yield of 3.9%. The ex-dividend date was Friday, November 28th. Olin’s payout ratio is presently 173.91%.

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.