Olin (NYSE:OLN) Price Target Raised to $17.00

Olin (NYSE:OLN) had its target price boosted by Truist Financial from $15.00 to $17.00 in a report issued on Monday,Benzinga reports. They currently have a hold rating on the specialty chemicals company’s stock.

Several other equities research analysts also recently commented on the company. Barclays initiated coverage on Olin in a report on Monday, October 12th. They set an “equal weight” rating and a $18.00 target price for the company. Deutsche Bank Aktiengesellschaft dropped their price target on Olin from $30.00 to $20.00 and set a “hold” rating on the stock in a research note on Tuesday, August 25th. UBS Group dropped their price target on Olin from $21.00 to $18.00 and set a “neutral” rating on the stock in a research note on Monday, October 5th. BMO Capital Markets cut their price objective on Olin from $30.00 to $25.00 and set a “market perform” rating on the stock in a report on Monday, July 6th. Finally, Wall Street Zen raised shares of Olin from a “strong sell” rating to a “sell” rating in a research note on Saturday, October 31st. One analyst has rated the stock with a Buy rating, twelve have assigned a Hold rating and three have issued a Sell rating to the company’s stock. According to MarketBeat, Olin presently has an average rating of “Reduce” and an average price target of $20.64.

Olin Stock Performance

NYSE OLN opened at $18.08 on Monday. Olin has a 1 year low of $14.64 and a 1 year high of $30.46. The business’s fifty day moving average is $16.45 and its two-hundred day moving average is $22.19. The company has a quick ratio of 0.88, a current ratio of 1.45 and a debt-to-equity ratio of 1.75.

Olin (NYSE:OLN) last released its quarterly earnings data on Thursday, October 29th. The specialty chemicals company reported $0.13 earnings per share for the quarter, missing the consensus estimate of $0.15 by ($0.02). The company had revenue of $1.75 billion for the quarter, compared to the consensus estimate of $1.83 billion. Olin had a negative return on equity of 6.63% and a negative net margin of 2.49%. The business’s revenue was up 2.0% compared to the same quarter last year. During the same period in the prior year, the business earned $0.37 earnings per share. On average, analysts forecast that Olin will post -0.83 EPS for the current fiscal year.

Olin Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, September 11th. Investors of record on Thursday, August 27th were issued a dividend of $0.20 per share. This represents a $0.80 annualized dividend and a dividend yield of 4.4%. The ex-dividend date was Thursday, August 27th. Olin’s dividend payout ratio (DPR) is currently -54.42%.

Institutional Inflows and Outflows

Large investors have recently added to or reduced their stakes in the stock. Rockefeller Capital Management L.P. raised its holdings in shares of Olin by 115.2% during the fourth quarter. Rockefeller Capital Management L.P. now owns 1,231 shares of the specialty chemicals company’s stock worth $26,000 after acquiring an additional 659 shares in the last quarter. Sunbelt Securities Inc. purchased a new position in Olin in the first quarter valued at about $45,000. Nykredit A S purchased a new position in Olin in the second quarter valued at about $59,000. IFP Advisors Inc grew its stake in Olin by 118.9% in the second quarter. IFP Advisors Inc now owns 3,163 shares of the specialty chemicals company’s stock valued at $63,000 after purchasing an additional 1,718 shares in the last quarter. Finally, Parallel Advisors LLC increased its position in Olin by 322.2% in the 1st quarter. Parallel Advisors LLC now owns 3,682 shares of the specialty chemicals company’s stock worth $109,000 after purchasing an additional 2,810 shares during the last quarter. Institutional investors and hedge funds own 88.67% of the company’s stock.

About Olin

Olin Corporation (NYSE: OLN) is a global manufacturer of chemicals and ammunition. The company operates through three primary businesses: Chlor Alkali Products and Vinyls, Epoxy, and Winchester.

Its Chlor Alkali Products and Vinyls business produces chlorine, caustic soda, hydrochloric acid, bleach products, hydrogen, chlorinated organic chemicals and other related materials used in industrial, water-treatment, construction and consumer applications. Olin’s Epoxy business manufactures epoxy resins, intermediates and other specialty materials used in coatings, adhesives, composites, electronics and infrastructure-related applications.

Through its Winchester business, Olin produces and distributes sporting ammunition, reloading components, and small-caliber ammunition for law enforcement and military customers.