Olin Co. (NYSE:OLN) Receives Average Recommendation of “Hold” from Analysts

Olin Co. (NYSE:OLN) has earned an average recommendation of “Hold” from the fifteen brokerages that are presently covering the firm, Marketbeat Ratings reports. Two investment analysts have rated the stock with a sell recommendation, seven have given a hold recommendation and six have issued a buy recommendation on the company. The average 1-year price objective among analysts that have covered the stock in the last year is $60.00.

Several brokerages have commented on OLN. Piper Sandler boosted their price objective on shares of Olin from $72.00 to $75.00 and gave the company an “overweight” rating in a research report on Monday, April 29th. Bank of America decreased their target price on Olin from $74.00 to $72.00 and set a “buy” rating on the stock in a research report on Monday, April 29th. KeyCorp dropped their target price on shares of Olin from $78.00 to $73.00 and set an “overweight” rating for the company in a report on Monday, April 29th. Citigroup lifted 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. Finally, Royal Bank of Canada dropped their price objective on shares of Olin from $69.00 to $63.00 and set an “outperform” rating for the company in a research note on Monday, April 29th.

Insiders Place Their Bets

In related news, CEO Scott Mcdougald Sutton sold 48,896 shares of the stock in a transaction on Tuesday, February 27th. The shares were sold at an average price of $52.39, for a total transaction of $2,561,661.44. Following the transaction, the chief executive officer now directly owns 90,327 shares of the company’s stock, valued at $4,732,231.53. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. In other news, VP Brett A. Flaugher sold 15,000 shares of the company’s 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 sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Scott Mcdougald Sutton sold 48,896 shares of the firm’s stock in a transaction that occurred on Tuesday, February 27th. The stock was sold at an average price of $52.39, for a total transaction of $2,561,661.44. Following the completion of the transaction, the chief executive officer now directly owns 90,327 shares of the company’s stock, valued at $4,732,231.53. The disclosure for this sale can be found here. Company insiders own 1.80% of the company’s stock.

Institutional Investors Weigh In On Olin

A number of institutional investors and hedge funds have recently bought and sold shares of OLN. Mackenzie Financial Corp boosted its position in Olin by 44.2% during the 3rd quarter. Mackenzie Financial Corp now owns 7,708 shares of the specialty chemicals company’s stock valued at $374,000 after buying an additional 2,361 shares during the period. Principal Financial Group Inc. boosted its holdings in shares of Olin by 2.7% during the third quarter. Principal Financial Group Inc. now owns 464,409 shares of the specialty chemicals company’s stock worth $23,211,000 after purchasing an additional 12,306 shares during the period. California Public Employees Retirement System grew its stake in shares of Olin by 5.7% in the third quarter. California Public Employees Retirement System now owns 249,744 shares of the specialty chemicals company’s stock worth $12,482,000 after purchasing an additional 13,508 shares during the last quarter. Lmcg Investments LLC increased its holdings in Olin by 2.6% during the 3rd quarter. Lmcg Investments LLC now owns 61,187 shares of the specialty chemicals company’s stock valued at $3,058,000 after purchasing an additional 1,550 shares during the period. Finally, Larson Financial Group LLC raised its position in Olin by 2.5% during the 3rd quarter. Larson Financial Group LLC now owns 29,482 shares of the specialty chemicals company’s stock valued at $1,474,000 after purchasing an additional 706 shares during the last quarter. 88.67% of the stock is owned by hedge funds and other institutional investors.

Olin Stock Performance

OLN opened at $54.44 on Friday. The company has a debt-to-equity ratio of 1.22, a current ratio of 1.38 and a quick ratio of 0.80. The business has a fifty day simple moving average of $55.94 and a 200 day simple moving average of $52.80. Olin has a 1 year low of $41.71 and a 1 year high of $60.60. The company has a market capitalization of $6.50 billion, a PE ratio of 19.58, a price-to-earnings-growth ratio of 0.33 and a beta of 1.48.

Olin (NYSE:OLN) last released its earnings results on Friday, April 26th. The specialty chemicals company reported $0.40 earnings per share (EPS) for the quarter, topping 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 in the prior year, the firm posted $1.16 EPS. Olin’s quarterly revenue was down 11.3% on a year-over-year basis. Research analysts expect that Olin will post 3.68 EPS for the current year.

Olin Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, June 14th. Investors of record on Thursday, May 9th will be issued a $0.20 dividend. This represents a $0.80 annualized dividend and a yield of 1.47%. The ex-dividend date of this dividend is Wednesday, May 8th. Olin’s payout ratio is presently 28.78%.

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.