Olin Co. (NYSE:OLN) Given Consensus Recommendation of “Hold” by Analysts

Shares of Olin Co. (NYSE:OLN) have been given an average recommendation of “Hold” by the sixteen research firms that are covering the company, Marketbeat Ratings reports. One investment analyst has rated the stock with a sell rating, ten have given a hold rating and five have issued a buy rating on the company. The average twelve-month target price among analysts that have updated their coverage on the stock in the last year is $40.44.

Several equities analysts have commented on the company. Citigroup lowered their price objective on Olin from $48.00 to $45.00 and set a “buy” rating for the company in a research report on Monday, December 16th. Royal Bank of Canada cut shares of Olin from an “outperform” rating to a “sector perform” rating and lowered their price target for the company from $45.00 to $30.00 in a research report on Tuesday, February 4th. Bank of America upgraded shares of Olin from a “neutral” rating to a “buy” rating and cut their price objective for the stock from $48.00 to $40.00 in a report on Tuesday, January 14th. KeyCorp lowered their target price on shares of Olin from $50.00 to $40.00 and set an “overweight” rating for the company in a report on Monday, February 3rd. Finally, Truist Financial dropped their price target on Olin from $38.00 to $32.00 and set a “hold” rating on the stock in a research report on Monday, February 3rd.

Insider Buying and Selling

In related news, CEO Kenneth Todd Lane acquired 7,250 shares of the stock in a transaction that occurred on Tuesday, February 4th. The shares were bought at an average price of $28.06 per share, for a total transaction of $203,435.00. Following the completion of the transaction, the chief executive officer now directly owns 7,250 shares in the company, valued at approximately $203,435. This trade represents a ∞ increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. 1.60% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Olin

Hedge funds have recently added to or reduced their stakes in the stock. Farther Finance Advisors LLC boosted its stake in shares of Olin by 88.2% in the 3rd quarter. Farther Finance Advisors LLC now owns 589 shares of the specialty chemicals company’s stock worth $28,000 after buying an additional 276 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. boosted its position in Olin by 26.2% in the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 1,534 shares of the specialty chemicals company’s stock worth $75,000 after purchasing an additional 318 shares during the last quarter. Entropy Technologies LP grew its stake in shares of Olin by 2.5% during the 3rd quarter. Entropy Technologies LP now owns 13,499 shares of the specialty chemicals company’s stock valued at $648,000 after purchasing an additional 332 shares during the period. Nisa Investment Advisors LLC grew its stake in shares of Olin by 3.0% during the 3rd quarter. Nisa Investment Advisors LLC now owns 11,830 shares of the specialty chemicals company’s stock valued at $568,000 after purchasing an additional 350 shares during the period. Finally, Covestor Ltd increased its position in shares of Olin by 45.8% during the 4th quarter. Covestor Ltd now owns 1,334 shares of the specialty chemicals company’s stock valued at $45,000 after purchasing an additional 419 shares during the last quarter. 88.67% of the stock is currently owned by hedge funds and other institutional investors.

Olin Price Performance

OLN stock opened at $26.89 on Monday. The company has a debt-to-equity ratio of 1.32, a current ratio of 1.27 and a quick ratio of 0.77. Olin has a 1 year low of $26.48 and a 1 year high of $60.60. The firm has a 50-day moving average of $31.71 and a 200 day moving average of $39.31. The company has a market cap of $3.14 billion, a P/E ratio of 29.88 and a beta of 1.45.

Olin (NYSE:OLN) last announced its earnings results on Thursday, January 30th. The specialty chemicals company reported $0.09 earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.01) by $0.10. Olin had a return on equity of 5.10% and a net margin of 1.66%. On average, sell-side analysts forecast that Olin will post 1.38 EPS for the current year.

Olin announced that its board has approved a stock repurchase plan on Thursday, December 12th that allows the company to buyback $2.00 billion in outstanding shares. This buyback authorization allows the specialty chemicals company to purchase up to 45% of its shares through open market purchases. Shares buyback plans are usually a sign that the company’s board of directors believes its stock is undervalued.

Olin Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, March 14th. Stockholders of record on Thursday, March 6th will be paid a $0.20 dividend. This represents a $0.80 annualized dividend and a dividend yield of 2.97%. The ex-dividend date is Thursday, March 6th. Olin’s dividend payout ratio is currently 88.89%.

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.