Olin Corporation (NYSE:OLN) Receives $22.62 Consensus Price Target from Brokerages

Olin Corporation (NYSE:OLN) has been assigned an average rating of “Hold” from the sixteen ratings firms that are presently covering the firm, MarketBeat reports. Three research analysts have rated the stock with a sell rating, eleven have given a hold rating, one has given a buy rating and one has assigned a strong buy rating to the company. The average 12 month price objective among brokers that have updated their coverage on the stock in the last year is $21.7692.

OLN has been the subject of a number of research reports. KeyCorp began coverage on shares of Olin in a research report on Friday, September 11th. They set an “overweight” rating and a $26.00 target price for the company. Truist Financial lowered their price target on shares of Olin from $24.00 to $20.00 and set a “hold” rating on the stock in a report on Monday, August 3rd. Wells Fargo & Company reiterated an “equal weight” rating and issued a $20.00 price objective (down from $25.00) on shares of Olin in a research note on Monday, August 3rd. The Goldman Sachs Group reduced their price objective on Olin from $24.00 to $20.00 and set a “neutral” rating for the company in a report on Tuesday, August 4th. Finally, UBS Group decreased their target price on Olin from $23.00 to $21.00 and set a “neutral” rating for the company in a research report on Monday, August 3rd.

Institutional Investors Weigh In On Olin

Several institutional investors have recently added to or reduced their stakes in the business. Amundi raised its position in shares of Olin by 337.2% in the first quarter. Amundi now owns 684,036 shares of the specialty chemicals company’s stock valued at $20,336,000 after purchasing an additional 527,586 shares during the period. Empowered Funds LLC lifted its stake in shares of Olin by 1,946.0% during the 1st quarter. Empowered Funds LLC now owns 435,599 shares of the specialty chemicals company’s stock valued at $12,950,000 after buying an additional 414,309 shares in the last quarter. Dimensional Fund Advisors LP boosted its holdings in Olin by 22.4% in the 1st quarter. Dimensional Fund Advisors LP now owns 5,627,997 shares of the specialty chemicals company’s stock worth $167,311,000 after buying an additional 1,031,498 shares during the period. Pzena Investment Management LLC boosted its holdings in Olin by 17.5% in the 4th quarter. Pzena Investment Management LLC now owns 4,507,913 shares of the specialty chemicals company’s stock worth $93,900,000 after buying an additional 671,250 shares during the period. Finally, Sei Investments Co. grew its stake in Olin by 132.5% in the 1st quarter. Sei Investments Co. now owns 169,374 shares of the specialty chemicals company’s stock valued at $5,036,000 after buying an additional 96,516 shares in the last quarter. 88.67% of the stock is owned by hedge funds and other institutional investors.

Olin Trading Down 0.7%

NYSE OLN opened at $16.88 on Tuesday. The business’s fifty day moving average is $19.17 and its 200-day moving average is $23.26. 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 stock has a market capitalization of $1.92 billion, a price-to-earnings ratio of -13.73 and a beta of 1.20. Olin has a one year low of $16.67 and a one year high of $30.46.

Olin (NYSE:OLN) last posted its quarterly earnings data on Thursday, July 30th. The specialty chemicals company reported ($0.12) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.13 by ($0.25). The company had revenue of $1.74 billion for the quarter, compared to analysts’ expectations 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 quarter last year, the business posted ($0.01) EPS. Equities research analysts predict that Olin will post -0.68 EPS for the current year.

Olin Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, September 11th. Investors of record on Thursday, August 27th were issued a $0.20 dividend. The ex-dividend date of this dividend was Thursday, August 27th. This represents a $0.80 annualized dividend and a yield of 4.7%. Olin’s dividend payout ratio (DPR) is -65.04%.

About Olin

Olin Corporation is a global manufacturer of chemicals and ammunition headquartered in Clayton, Missouri. The company operates through two primary businesses: Chlor Alkali Products and Vinyls and Winchester.

Olin’s Chlor Alkali Products and Vinyls business produces essential chemicals including chlorine, caustic soda, hydrogen, hydrochloric acid, bleach products and related chlorinated compounds. These materials are used in water treatment, pulp and paper, construction, plastics, cleaning products and other industrial applications.