KeyCorp Cuts Olin (NYSE:OLN) Price Target to $73.00

Olin (NYSE:OLN) had its price target decreased by KeyCorp from $78.00 to $73.00 in a report released on Monday, Benzinga reports. KeyCorp currently has an overweight rating on the specialty chemicals company’s stock.

A number of other analysts have also issued reports on the company. Stifel Nicolaus lifted their price target on Olin from $65.00 to $66.00 and gave the stock a buy rating in a research note on Monday, January 29th. Royal Bank of Canada lifted their price target on Olin from $64.00 to $69.00 and gave the stock an outperform rating in a research note on Friday, April 19th. The Goldman Sachs Group lifted their price target on Olin from $55.00 to $61.00 and gave the stock a neutral rating in a research note on Tuesday, January 30th. UBS Group lifted their price target on Olin from $56.00 to $58.00 and gave the stock a neutral rating in a research note on Friday, January 26th. Finally, Wells Fargo & Company lifted their price target on Olin from $56.00 to $60.00 and gave the stock an equal weight rating in a research note on Wednesday, April 3rd. Two investment analysts have rated the stock with a sell rating, eight have given a hold rating and six have given a buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of Hold and a consensus price target of $60.00.

Olin Stock Down 0.4 %

Shares of OLN opened at $52.06 on Monday. The company has a current ratio of 1.38, a quick ratio of 0.80 and a debt-to-equity ratio of 1.22. Olin has a 12 month low of $41.71 and a 12 month high of $60.60. The stock’s 50 day moving average is $55.67 and its two-hundred day moving average is $51.73. The firm has a market cap of $6.22 billion, a P/E ratio of 18.73, a PEG ratio of 0.30 and a beta of 1.44.

Olin (NYSE:OLN) last issued its quarterly earnings data on Friday, April 26th. The specialty chemicals company reported $0.40 EPS for the quarter, beating the consensus estimate of $0.38 by $0.02. Olin had a return on equity of 14.47% and a net margin of 5.32%. The company had revenue of $1.64 billion for the quarter, compared to analyst estimates of $1.65 billion. During the same period last year, the company earned $1.16 earnings per share. Olin’s quarterly revenue was down 11.3% compared to the same quarter last year. Analysts predict that Olin will post 3.68 earnings per share for the current fiscal year.

Olin Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, June 14th. Shareholders of record on Thursday, May 9th will be given a $0.20 dividend. The ex-dividend date is Wednesday, May 8th. This represents a $0.80 dividend on an annualized basis and a yield of 1.54%. Olin’s dividend payout ratio is currently 28.78%.

Insider Buying and Selling at Olin

In other Olin news, CEO Scott Mcdougald Sutton sold 48,896 shares of Olin stock in a transaction on Tuesday, February 27th. The stock was sold at an average price of $52.39, for a total value of $2,561,661.44. Following the sale, the chief executive officer now owns 90,327 shares in the company, valued at $4,732,231.53. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In related news, VP Brett A. Flaugher sold 15,000 shares of the business’s stock in a transaction on Monday, February 26th. The stock was sold at an average price of $52.46, for a total value of $786,900.00. Following the sale, the vice president now owns 8,782 shares in the company, valued at approximately $460,703.72. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CEO Scott Mcdougald Sutton sold 48,896 shares of the business’s stock in a transaction on Tuesday, February 27th. The shares were sold at an average price of $52.39, for a total value of $2,561,661.44. Following the completion of the sale, the chief executive officer now owns 90,327 shares in the company, valued at approximately $4,732,231.53. The disclosure for this sale can be found here. Insiders have sold 78,896 shares of company stock worth $4,136,061 over the last quarter. 1.80% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Olin

Several institutional investors and hedge funds have recently modified their holdings of OLN. SG Americas Securities LLC raised its holdings in shares of Olin by 59.2% in the 3rd quarter. SG Americas Securities LLC now owns 24,824 shares of the specialty chemicals company’s stock valued at $1,241,000 after buying an additional 9,232 shares during the period. Xponance Inc. raised its holdings in shares of Olin by 3.0% in the 3rd quarter. Xponance Inc. now owns 15,174 shares of the specialty chemicals company’s stock valued at $758,000 after buying an additional 444 shares during the period. FinTrust Capital Advisors LLC grew its stake in Olin by 651.4% during the 3rd quarter. FinTrust Capital Advisors LLC now owns 37,569 shares of the specialty chemicals company’s stock worth $1,878,000 after purchasing an additional 32,569 shares in the last quarter. Raymond James Financial Services Advisors Inc. grew its stake in Olin by 209.4% during the 3rd quarter. Raymond James Financial Services Advisors Inc. now owns 50,657 shares of the specialty chemicals company’s stock worth $2,532,000 after purchasing an additional 34,285 shares in the last quarter. Finally, Arnhold LLC grew its stake in Olin by 29.8% during the 3rd quarter. Arnhold LLC now owns 225,338 shares of the specialty chemicals company’s stock worth $11,262,000 after purchasing an additional 51,768 shares in the last quarter. Hedge funds and other 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.