Olin Co. (NYSE:OLN) Receives $59.33 Consensus Price Target from Brokerages

Olin Co. (NYSE:OLN) has been assigned an average rating of “Hold” from the fourteen analysts that are covering the company, Marketbeat Ratings reports. Two investment analysts have rated the stock with a sell recommendation, seven have assigned a hold recommendation and five have assigned a buy recommendation to the company. The average 1 year price objective among brokers that have updated their coverage on the stock in the last year is $59.33.

OLN has been the topic of several recent research reports. Citigroup upped their price target on shares of Olin from $63.00 to $67.00 and gave the company a “buy” rating in a report on Wednesday, April 10th. UBS Group increased their target price on Olin from $56.00 to $58.00 and gave the company a “neutral” rating in a report on Friday, January 26th. KeyCorp boosted their price target on Olin from $66.00 to $78.00 and gave the stock an “overweight” rating in a report on Tuesday, April 9th. Barclays upped their price objective on Olin from $57.00 to $59.00 and gave the company an “equal weight” rating in a research report on Thursday, April 4th. Finally, Stifel Nicolaus lifted their price objective on Olin from $65.00 to $66.00 and gave the stock a “buy” rating in a research report on Monday, January 29th.

Olin Trading Up 1.2 %

Shares of OLN opened at $53.48 on Tuesday. The firm’s 50-day moving average is $55.63 and its two-hundred day moving average is $51.65. The firm has a market capitalization of $6.40 billion, a P/E ratio of 19.24, a PEG ratio of 0.29 and a beta of 1.44. The company has a current ratio of 1.29, a quick ratio of 0.73 and a debt-to-equity ratio of 1.14. Olin has a twelve month low of $41.71 and a twelve month high of $60.60.

Olin (NYSE:OLN) last posted its earnings results on Friday, April 26th. The specialty chemicals company reported $0.40 EPS for the quarter, topping analysts’ consensus estimates of $0.36 by $0.04. The company had revenue of $1.64 billion for the quarter, compared to the consensus estimate of $1.65 billion. Olin had a return on equity of 14.22% and a net margin of 5.32%. Olin’s quarterly revenue was down 11.3% compared to the same quarter last year. During the same period in the previous year, the business earned $1.16 earnings per share. On average, research analysts predict that Olin will post 3.73 earnings per share for the current fiscal year.

Olin Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, June 14th. Shareholders of record on Thursday, May 9th will be paid a dividend of $0.20 per share. This represents a $0.80 dividend on an annualized basis and a yield of 1.50%. The ex-dividend date of this dividend is Wednesday, May 8th. Olin’s dividend payout ratio is currently 28.78%.

Insider Buying and Selling at Olin

In related news, CFO Todd A. Slater sold 63,250 shares of the stock in a transaction on Tuesday, January 30th. The stock was sold at an average price of $54.15, for a total value of $3,424,987.50. Following the transaction, the chief financial officer now directly owns 137,517 shares of the company’s stock, valued at approximately $7,446,545.55. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. In other Olin news, CEO Scott Mcdougald Sutton sold 539,328 shares of Olin stock in a transaction that occurred on Tuesday, January 30th. The shares were sold at an average price of $53.96, for a total transaction of $29,102,138.88. Following the transaction, the chief executive officer now directly owns 47,620 shares of the company’s stock, valued at $2,569,575.20. The sale was disclosed in a filing with the SEC, which is available at this link. Also, CFO Todd A. Slater sold 63,250 shares of the stock in a transaction on Tuesday, January 30th. The shares were sold at an average price of $54.15, for a total value of $3,424,987.50. Following the completion of the sale, the chief financial officer now owns 137,517 shares of the company’s stock, valued at $7,446,545.55. The disclosure for this sale can be found here. Insiders have sold a total of 753,274 shares of company stock worth $40,434,124 in the last quarter. 1.60% of the stock is owned by insiders.

Institutional Investors Weigh In On Olin

A number of large investors have recently added to or reduced their stakes in the company. South Dakota Investment Council increased its holdings in Olin by 279.8% during the 4th quarter. South Dakota Investment Council now owns 60,392 shares of the specialty chemicals company’s stock worth $3,258,000 after purchasing an additional 44,492 shares during the last quarter. Quantbot Technologies LP increased its stake in shares of Olin by 153.2% in the third quarter. Quantbot Technologies LP now owns 24,674 shares of the specialty chemicals company’s stock worth $1,233,000 after buying an additional 14,928 shares during the last quarter. Coombe Bender & Co LLC boosted its stake in Olin by 20.8% during the 3rd quarter. Coombe Bender & Co LLC now owns 90,977 shares of the specialty chemicals company’s stock valued at $4,547,000 after acquiring an additional 15,645 shares during the last quarter. AdvisorShares Investments LLC acquired a new position in Olin during the 3rd quarter worth $361,000. Finally, Cerity Partners LLC bought a new stake in shares of Olin in the 4th quarter worth about $2,613,000. 88.67% of the stock is owned by institutional investors and hedge funds.

Olin Company Profile

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.