Olin Corp. (OLN) Receives $22.00 Average Price Target from Brokerages
Olin Corp. (NYSE:OLN) has earned a consensus recommendation of “Hold” from the ten research firms that are presently covering the company. Two investment analysts have rated the stock with a sell recommendation, one has issued a hold recommendation and six have assigned a buy recommendation to the company. The average 1-year target price among analysts that have covered the stock in the last year is $22.00.
Several research analysts recently weighed in on the stock. Zacks Investment Research cut shares of Olin Corp. from a “hold” rating to a “sell” rating in a research report on Tuesday, November 1st. Longbow Research cut shares of Olin Corp. from a “neutral” rating to an “underperform” rating and set a $17.00 price objective on the stock. in a research report on Wednesday, September 7th.
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Olin Corp. (NYSE:OLN) opened at 26.00 on Monday. The firm’s 50-day moving average is $22.86 and its 200 day moving average is $22.19. The company’s market cap is $4.30 billion. Olin Corp. has a 12-month low of $12.29 and a 12-month high of $26.46.
Olin Corp. (NYSE:OLN) last posted its quarterly earnings data on Tuesday, November 1st. The company reported $0.33 earnings per share for the quarter, hitting the Thomson Reuters’ consensus estimate of $0.33. The company had revenue of $1.45 billion for the quarter, compared to analysts’ expectations of $1.44 billion. Olin Corp. had a negative net margin of 1.49% and a positive return on equity of 5.30%. Olin Corp.’s revenue for the quarter was up 6.5% compared to the same quarter last year. During the same period in the prior year, the business earned $0.27 earnings per share. On average, equities analysts expect that Olin Corp. will post $0.76 earnings per share for the current fiscal year.
The business also recently disclosed a quarterly dividend, which will be paid on Friday, December 9th. Stockholders of record on Thursday, November 10th will be paid a dividend of $0.20 per share. This represents a $0.80 dividend on an annualized basis and a dividend yield of 3.08%. The ex-dividend date of this dividend is Tuesday, November 8th. Olin Corp.’s dividend payout ratio (DPR) is presently -160.00%.
In related news, insider Pat D. Dawson acquired 20,000 shares of the company’s stock in a transaction dated Tuesday, November 8th. The stock was purchased at an average price of $22.54 per share, with a total value of $450,800.00. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 2.80% of the company’s stock.
Several hedge funds have recently added to or reduced their stakes in OLN. Price T Rowe Associates Inc. MD raised its stake in Olin Corp. by 13.2% in the third quarter. Price T Rowe Associates Inc. MD now owns 56,376 shares of the company’s stock worth $1,157,000 after buying an additional 6,569 shares during the period. Credit Suisse AG raised its stake in Olin Corp. by 8.5% in the third quarter. Credit Suisse AG now owns 256,258 shares of the company’s stock worth $5,258,000 after buying an additional 20,154 shares during the period. Ameritas Investment Partners Inc. raised its stake in Olin Corp. by 66.3% in the third quarter. Ameritas Investment Partners Inc. now owns 64,699 shares of the company’s stock worth $1,328,000 after buying an additional 25,804 shares during the period. Intl Fcstone Inc. bought a new stake in Olin Corp. during the third quarter worth $554,000. Finally, Shapiro Capital Management LLC bought a new stake in Olin Corp. during the third quarter worth $339,000. 92.85% of the stock is owned by hedge funds and other institutional investors.
Olin Corp. Company Profile
Olin Corporation is a manufacturer and distributor of chemical products, and ammunition. The Company operates through three segments: Chlor Alkali Products and Vinyls, Epoxy and Winchester. The Chlor Alkali Products and Vinyls segment manufactures and sells chlorine and caustic soda, ethylene dichloride and vinyl chloride monomer, methyl chloride, methylene chloride, chloroform, carbon tetrachloride, perchloroethylene, trichloroethylene and vinylidene chloride, hydrogen, bleach products and potassium hydroxide.
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