Olin (NYSE:OLN) Price Target Raised to $69.00 at Royal Bank of Canada

Olin (NYSE:OLN) had its price objective raised by Royal Bank of Canada from $64.00 to $69.00 in a research report released on Friday morning, Benzinga reports. The brokerage currently has an outperform rating on the specialty chemicals company’s stock.

Several other analysts have also recently issued reports on OLN. Stifel Nicolaus upped their price objective on Olin from $65.00 to $66.00 and gave the stock a buy rating in a report on Monday, January 29th. KeyCorp boosted their target price on Olin from $66.00 to $78.00 and gave the company an overweight rating in a research report on Tuesday, April 9th. UBS Group boosted their target price on Olin from $56.00 to $58.00 and gave the company a neutral rating in a research report on Friday, January 26th. Citigroup boosted their target price on Olin from $63.00 to $67.00 and gave the company a buy rating in a research report on Wednesday, April 10th. Finally, Wells Fargo & Company boosted their target price on Olin from $56.00 to $60.00 and gave the company an equal weight rating in a research report on Wednesday, April 3rd. Two research analysts have rated the stock with a sell rating, eight have assigned a hold rating and five have given a buy rating to the stock. According to MarketBeat, Olin currently has an average rating of Hold and an average target price of $59.33.

Olin Stock Up 0.5 %

Shares of OLN opened at $53.84 on Friday. The stock has a market capitalization of $6.44 billion, a price-to-earnings ratio of 15.21, a price-to-earnings-growth ratio of 0.29 and a beta of 1.44. Olin has a 1 year low of $41.71 and a 1 year high of $60.60. The business’s 50 day simple moving average is $55.50 and its 200-day simple moving average is $51.52. The company has a debt-to-equity ratio of 1.14, a current ratio of 1.29 and a quick ratio of 0.73.

Olin (NYSE:OLN) last issued its quarterly earnings data on Thursday, January 25th. The specialty chemicals company reported $0.30 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.20 by $0.10. The business had revenue of $1.61 billion for the quarter, compared to analysts’ expectations of $1.50 billion. Olin had a return on equity of 18.44% and a net margin of 6.74%. As a group, equities analysts expect that Olin will post 3.75 earnings per share for the current fiscal year.

Olin Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, March 15th. Shareholders of record on Thursday, March 7th were given a $0.20 dividend. This represents a $0.80 annualized dividend and a yield of 1.49%. The ex-dividend date of this dividend was Wednesday, March 6th. Olin’s dividend payout ratio (DPR) is presently 22.60%.

Insider Buying and Selling at Olin

In other Olin news, CEO Scott Mcdougald Sutton sold 539,328 shares of the company’s stock in a transaction on Tuesday, January 30th. The stock was sold at an average price of $53.96, for a total value of $29,102,138.88. Following the transaction, the chief executive officer now owns 47,620 shares of the company’s stock, valued at approximately $2,569,575.20. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other news, VP Brett A. Flaugher sold 15,000 shares of the stock in a transaction on Monday, February 26th. The stock was sold at an average price of $52.46, for a total transaction of $786,900.00. Following the transaction, the vice president now owns 8,782 shares of the company’s stock, valued at approximately $460,703.72. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CEO Scott Mcdougald Sutton sold 539,328 shares of the stock in a transaction on Tuesday, January 30th. The stock was sold at an average price of $53.96, for a total value of $29,102,138.88. Following the transaction, the chief executive officer now directly owns 47,620 shares in the company, valued at approximately $2,569,575.20. The disclosure for this sale can be found here. Insiders have sold 753,274 shares of company stock valued at $40,434,124 in the last quarter. 1.80% of the stock is owned by insiders.

Hedge Funds Weigh In On Olin

Hedge funds and other institutional investors have recently made changes to their positions in the company. Baystate Wealth Management LLC grew its position in shares of Olin by 154.6% during the 3rd quarter. Baystate Wealth Management LLC now owns 494 shares of the specialty chemicals company’s stock worth $25,000 after buying an additional 300 shares in the last quarter. Sandy Spring Bank lifted its stake in shares of Olin by 145.6% during the 4th quarter. Sandy Spring Bank now owns 614 shares of the specialty chemicals company’s stock worth $33,000 after purchasing an additional 364 shares during the last quarter. Covestor Ltd lifted its stake in shares of Olin by 76.7% during the 3rd quarter. Covestor Ltd now owns 659 shares of the specialty chemicals company’s stock worth $33,000 after purchasing an additional 286 shares during the last quarter. Motco purchased a new stake in shares of Olin during the 3rd quarter worth $40,000. Finally, ORG Partners LLC purchased a new stake in shares of Olin during the 3rd quarter worth $44,000. Institutional investors own 88.67% of the company’s stock.

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.