Citigroup Cuts Olin (NYSE:OLN) Price Target to $21.00

Olin (NYSE:OLN) had its price target cut by Citigroup from $24.00 to $21.00 in a research report report published on Tuesday,Benzinga reports. They currently have a neutral rating on the specialty chemicals company’s stock.

OLN has been the subject of a number of other research reports. Mizuho set a $22.00 price target on Olin in a research report on Friday, January 30th. Wells Fargo & Company dropped their target price on shares of Olin from $25.00 to $22.00 and set an “equal weight” rating for the company in a research report on Wednesday, October 29th. KeyCorp reduced their price target on shares of Olin from $29.00 to $26.00 and set an “overweight” rating on the stock in a research report on Monday. Bank of America boosted their price objective on shares of Olin from $25.00 to $30.00 and gave the stock a “buy” rating in a research note on Tuesday, October 14th. Finally, Truist Financial cut their target price on shares of Olin from $23.00 to $20.00 and set a “hold” rating on the stock in a research note on Monday. One analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating, eleven have assigned a Hold rating and three have given a Sell rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus price target of $22.86.

Olin Stock Down 8.1%

Shares of NYSE OLN opened at $23.37 on Tuesday. The firm’s 50-day moving average is $21.96 and its two-hundred day moving average is $22.11. The company has a market capitalization of $2.67 billion, a PE ratio of -61.49 and a beta of 1.64. Olin has a 12-month low of $17.66 and a 12-month high of $28.77. The company has a debt-to-equity ratio of 1.46, a current ratio of 1.35 and a quick ratio of 0.81.

Olin (NYSE:OLN) last issued its quarterly earnings data on Thursday, January 29th. The specialty chemicals company reported ($0.58) earnings per share (EPS) for the quarter, meeting the consensus estimate of ($0.58). The business had revenue of $1.67 billion for the quarter, compared to the consensus estimate of $1.61 billion. Olin had a negative return on equity of 0.47% and a negative net margin of 0.63%.The business’s revenue was down .4% on a year-over-year basis. During the same period in the prior year, the business earned $0.09 earnings per share. Equities analysts anticipate that Olin will post 1.38 EPS for the current fiscal year.

Olin Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, December 12th. Shareholders of record on Friday, November 28th were paid a dividend of $0.20 per share. This represents a $0.80 dividend on an annualized basis and a yield of 3.4%. The ex-dividend date of this dividend was Friday, November 28th. Olin’s payout ratio is presently -210.53%.

Insider Transactions at Olin

In other Olin news, VP R Nichole Sumner sold 4,750 shares of the business’s stock in a transaction on Tuesday, February 3rd. The stock was sold at an average price of $22.49, for a total transaction of $106,827.50. Following the completion of the transaction, the vice president owned 24,771 shares in the company, valued at approximately $557,099.79. The trade was a 16.09% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, VP Teresa M. Vermillion sold 4,500 shares of the business’s stock in a transaction dated Wednesday, November 26th. The stock was sold at an average price of $20.86, for a total transaction of $93,870.00. Following the sale, the vice president owned 17,199 shares in the company, valued at $358,771.14. This trade represents a 20.74% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last three months, insiders sold 101,500 shares of company stock worth $2,274,478. Company insiders own 1.60% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of OLN. Strategic Advocates LLC purchased a new position in shares of Olin during the third quarter valued at $25,000. Evelyn Partners Investment Management LLP increased its holdings in shares of Olin by 6,360.0% in the 2nd quarter. Evelyn Partners Investment Management LLP now owns 1,615 shares of the specialty chemicals company’s stock valued at $32,000 after purchasing an additional 1,590 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. purchased a new stake in shares of Olin in the first quarter worth approximately $32,000. Bessemer Group Inc. boosted its holdings in shares of Olin by 712.7% during the third quarter. Bessemer Group Inc. now owns 1,341 shares of the specialty chemicals company’s stock worth $34,000 after purchasing an additional 1,176 shares during the period. Finally, Allworth Financial LP grew its position in Olin by 114.0% during the third quarter. Allworth Financial LP now owns 1,740 shares of the specialty chemicals company’s stock valued at $43,000 after purchasing an additional 927 shares in the last quarter. Institutional investors own 88.67% of the company’s stock.

Olin Company Profile

Olin Corporation is a diversified manufacturer specializing in chemical products and ammunition. The company’s core business activities encompass the production and distribution of chlor-alkali products, epoxy resins and derivatives, and small-caliber ammunition under the Winchester brand. Olin’s chemical operations supply chlorine, caustic soda and related co-products to a wide range of end markets, including water treatment, pulp and paper, pharmaceuticals and general industrial applications.

In its Chlor Alkali Products & Vinyls segment, Olin operates multiple manufacturing facilities that produce chlorine and sodium hydroxide, along with vinyl chloride monomer and polyvinyl chloride (PVC) compounds.