Olin Corporation (NYSE:OLN) Receives Average Rating of “Hold” from Brokerages

Shares of Olin Corporation (NYSE:OLN) have received an average rating of “Hold” from the sixteen analysts that are currently covering the company, Marketbeat reports. Four analysts have rated the stock with a sell rating, nine have issued a hold rating, two have assigned a buy rating and one has issued a strong buy rating on the company. The average 12-month target price among brokers that have covered the stock in the last year is $27.1538.

OLN has been the subject of several recent research reports. Wall Street Zen lowered Olin from a “hold” rating to a “sell” rating in a research report on Saturday, June 27th. Truist Financial upped their target price on shares of Olin from $20.00 to $26.00 and gave the stock a “hold” rating in a research report on Monday, May 11th. UBS Group increased their price target on shares of Olin from $29.00 to $31.00 and gave the stock a “neutral” rating in a research note on Wednesday, May 13th. Morgan Stanley lifted their price target on shares of Olin from $18.00 to $22.00 and gave the company an “underweight” rating in a research report on Monday, May 11th. Finally, Citigroup lowered shares of Olin from a “neutral” rating to an “underperform” rating in a research note on Tuesday, June 30th.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Royal Bank of Canada grew its stake in shares of Olin by 20.2% in the first quarter. Royal Bank of Canada now owns 85,198 shares of the specialty chemicals company’s stock worth $2,066,000 after acquiring an additional 14,344 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. purchased a new position in shares of Olin in the 1st quarter worth about $32,000. Jones Financial Companies Lllp raised its position in shares of Olin by 467.9% in the 1st quarter. Jones Financial Companies Lllp now owns 13,805 shares of the specialty chemicals company’s stock worth $335,000 after purchasing an additional 11,374 shares during the last quarter. Goldman Sachs Group Inc. boosted its stake in Olin by 57.6% in the 1st quarter. Goldman Sachs Group Inc. now owns 588,602 shares of the specialty chemicals company’s stock worth $14,268,000 after purchasing an additional 215,235 shares in the last quarter. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its stake in Olin by 6.7% in the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 317,472 shares of the specialty chemicals company’s stock worth $7,696,000 after purchasing an additional 20,047 shares in the last quarter. Institutional investors own 88.67% of the company’s stock.

Olin Stock Up 1.0%

Shares of NYSE:OLN opened at $20.95 on Thursday. Olin has a 52-week low of $18.08 and a 52-week high of $30.46. The firm has a market capitalization of $2.39 billion, a P/E ratio of -18.71 and a beta of 1.21. The stock has a 50 day moving average price of $24.56 and a 200-day moving average price of $24.70. The company has a debt-to-equity ratio of 1.73, a quick ratio of 0.82 and a current ratio of 1.36.

Olin Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, June 12th. Shareholders of record on Thursday, May 14th were paid a dividend of $0.20 per share. The ex-dividend date of this dividend was Thursday, May 14th. This represents a $0.80 dividend on an annualized basis and a dividend yield of 3.8%. Olin’s dividend payout ratio (DPR) is currently -71.43%.

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.