Olin Corporation (NYSE:OLN) Receives $23.08 Consensus Price Target from Analysts

Shares of Olin Corporation (NYSE:OLN) have been given a consensus recommendation of “Reduce” by the sixteen brokerages that are presently covering the firm, Marketbeat reports. Four equities research analysts have rated the stock with a sell recommendation, ten have assigned a hold recommendation, one has issued a buy recommendation and one has given a strong buy recommendation to the company. The average 12-month price target among analysts that have updated their coverage on the stock in the last year is $22.6154.

Several research firms have recently commented on OLN. Morgan Stanley upped their target price on Olin from $18.00 to $22.00 and gave the company an “underweight” rating in a research report on Monday, May 11th. JPMorgan Chase & Co. dropped their price target on Olin from $26.00 to $25.00 and set a “neutral” rating for the company in a report on Thursday, June 18th. BMO Capital Markets reduced their price target on Olin from $30.00 to $25.00 and set a “market perform” rating for the company in a research note on Monday, July 6th. Mizuho upped their price objective on Olin from $23.00 to $24.00 and gave the company a “neutral” rating in a report on Friday, July 31st. Finally, UBS Group lowered their price objective on Olin from $23.00 to $21.00 and set a “neutral” rating on the stock in a research report on Monday, August 3rd.

Olin Price Performance

Shares of OLN opened at $17.30 on Friday. The company’s 50-day moving average is $20.28 and its 200-day moving average is $24.11. The company has a debt-to-equity ratio of 1.77, a current ratio of 1.42 and a quick ratio of 0.87. The firm has a market capitalization of $1.97 billion, a PE ratio of -14.07 and a beta of 1.22. Olin has a fifty-two week low of $17.01 and a fifty-two week high of $30.46.

Olin (NYSE:OLN) last announced its earnings results on Thursday, July 30th. The specialty chemicals company reported ($0.12) EPS for the quarter, missing the consensus estimate of $0.13 by ($0.25). The company had revenue of $1.74 billion for the quarter, compared to the consensus estimate of $1.81 billion. Olin had a negative return on equity of 4.76% and a negative net margin of 2.08%.The business’s quarterly revenue was down .9% on a year-over-year basis. During the same period in the previous year, the firm posted ($0.01) EPS. Equities analysts forecast that Olin will post -0.68 EPS for the current year.

Olin Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, September 11th. Investors of record on Thursday, August 27th will be paid a $0.20 dividend. The ex-dividend date is Thursday, August 27th. This represents a $0.80 annualized dividend and a dividend yield of 4.6%. Olin’s dividend payout ratio is -65.04%.

Institutional Trading of Olin

Several hedge funds and other institutional investors have recently bought and sold shares of the business. Rockefeller Capital Management L.P. grew its position in shares of Olin by 115.2% during the 4th quarter. Rockefeller Capital Management L.P. now owns 1,231 shares of the specialty chemicals company’s stock worth $26,000 after purchasing an additional 659 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. bought a new position in shares of Olin during the first quarter worth approximately $32,000. Sunbelt Securities Inc. acquired a new stake in shares of Olin in the first quarter valued at approximately $45,000. UMB Bank n.a. raised its position in shares of Olin by 34.0% in the fourth quarter. UMB Bank n.a. now owns 2,597 shares of the specialty chemicals company’s stock valued at $54,000 after buying an additional 659 shares in the last quarter. Finally, NewEdge Advisors LLC boosted its stake in shares of Olin by 45.0% in the third quarter. NewEdge Advisors LLC now owns 2,323 shares of the specialty chemicals company’s stock valued at $58,000 after buying an additional 721 shares during the period. Institutional investors and hedge funds own 88.67% of the company’s stock.

About Olin

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.