Olin Corporation (NYSE:OLN) Receives $23.73 Consensus Target Price from Analysts

Olin Corporation (NYSE:OLN) has received a consensus recommendation of “Hold” from the eighteen ratings firms that are presently covering the company, MarketBeat reports. Three analysts have rated the stock with a sell rating, twelve have given a hold rating, two have assigned a buy rating and one has assigned a strong buy rating to the company. The average 1 year price target among brokers that have issued ratings on the stock in the last year is $23.7333.

OLN has been the subject of several research reports. Deutsche Bank Aktiengesellschaft reiterated a “hold” rating and issued a $26.00 target price on shares of Olin in a research report on Tuesday, February 10th. BMO Capital Markets lowered their price target on Olin from $25.00 to $24.00 and set a “market perform” rating on the stock in a research report on Tuesday, February 3rd. Royal Bank Of Canada dropped their price target on Olin from $24.00 to $21.00 and set a “sector perform” rating for the company in a research note on Monday, February 2nd. Wells Fargo & Company increased their price objective on Olin from $21.00 to $25.00 and gave the company an “equal weight” rating in a research report on Friday, March 13th. Finally, Mizuho raised their price objective on Olin from $22.00 to $24.00 and gave the company a “neutral” rating in a report on Tuesday, February 17th.

Olin Trading Down 0.5%

Shares of OLN opened at $28.88 on Tuesday. Olin has a 1-year low of $17.66 and a 1-year high of $29.95. The company has a market capitalization of $3.29 billion, a P/E ratio of -75.99 and a beta of 1.56. The company has a debt-to-equity ratio of 1.45, a current ratio of 1.21 and a quick ratio of 0.73. The firm’s 50 day simple moving average is $24.72 and its 200 day simple moving average is $23.03.

Olin (NYSE:OLN) last released its quarterly earnings results on Thursday, January 29th. The specialty chemicals company reported ($0.58) EPS for the quarter, hitting analysts’ consensus estimates of ($0.58). The business had revenue of $1.67 billion during the quarter, compared to analysts’ expectations of $1.61 billion. Olin had a negative net margin of 0.63% and a negative return on equity of 0.48%. The business’s quarterly revenue was down .4% compared to the same quarter last year. During the same quarter in the previous year, the company earned $0.09 EPS. Sell-side analysts forecast that Olin will post 1.38 earnings per share for the current fiscal year.

Olin Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, March 13th. Stockholders of record on Tuesday, March 3rd were issued a $0.20 dividend. This represents a $0.80 dividend on an annualized basis and a dividend yield of 2.8%. The ex-dividend date was Tuesday, March 3rd. Olin’s payout ratio is presently -210.53%.

Insider Activity

In other news, VP Angela M. Castle sold 2,379 shares of the company’s stock in a transaction on Tuesday, February 24th. The shares were sold at an average price of $24.25, for a total value of $57,690.75. Following the completion of the sale, the vice president owned 1,528 shares of the company’s stock, valued at approximately $37,054. This represents a 60.89% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, VP R Nichole Sumner sold 4,750 shares of the stock in a transaction on Tuesday, February 3rd. The shares were sold at an average price of $22.49, for a total transaction of $106,827.50. Following the transaction, the vice president directly owned 24,771 shares in the company, valued at approximately $557,099.79. This represents a 16.09% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last 90 days, insiders sold 99,379 shares of company stock valued at $2,238,298. Corporate insiders own 1.60% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of OLN. Orbis Allan Gray Ltd boosted its holdings in Olin by 448.9% during the 4th quarter. Orbis Allan Gray Ltd now owns 3,804,561 shares of the specialty chemicals company’s stock valued at $79,249,000 after acquiring an additional 3,111,393 shares during the period. Ilex Capital Partners UK LLP purchased a new stake in shares of Olin during the second quarter valued at approximately $50,476,000. Millennium Management LLC increased its stake in shares of Olin by 1,063.0% in the third quarter. Millennium Management LLC now owns 2,486,702 shares of the specialty chemicals company’s stock worth $62,143,000 after buying an additional 2,272,877 shares during the period. Norges Bank bought a new stake in Olin during the 2nd quarter valued at $27,843,000. Finally, Semper Augustus Investments Group LLC raised its holdings in Olin by 141.3% during the 3rd quarter. Semper Augustus Investments Group LLC now owns 1,924,245 shares of the specialty chemicals company’s stock valued at $48,087,000 after buying an additional 1,126,809 shares during the last quarter. 88.67% of the stock is owned by institutional investors.

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.