Olin (NYSE:OLN) Price Target Raised to $19.00

Olin (NYSE:OLN) had its price target hoisted by Citigroup from $17.00 to $19.00 in a research report sent to investors on Monday,Benzinga reports. The brokerage currently has a neutral rating on the specialty chemicals company’s stock.

Several other equities analysts have also weighed in on the company. Wall Street Zen raised Olin from a “strong sell” rating to a “sell” rating in a report on Saturday, October 31st. BMO Capital Markets cut their price target on shares of Olin from $30.00 to $25.00 and set a “market perform” rating for the company in a report on Monday, July 6th. Mizuho increased their price target on shares of Olin from $23.00 to $24.00 and gave the stock a “neutral” rating in a report on Friday, July 31st. UBS Group cut their price objective on Olin from $21.00 to $18.00 and set a “neutral” rating for the company in a report on Monday, October 5th. Finally, Weiss Ratings reaffirmed a “sell (d)” rating on shares of Olin in a research note on Wednesday, August 19th. One research analyst has rated the stock with a Buy rating, twelve have given a Hold rating and three have issued a Sell rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Reduce” and a consensus price target of $20.64.

Olin Stock Up 3.1%

NYSE OLN opened at $18.08 on Monday. Olin has a one year low of $14.64 and a one year high of $30.46. The company has a current ratio of 1.45, a quick ratio of 0.88 and a debt-to-equity ratio of 1.75. The business’s fifty day moving average is $16.45 and its 200-day moving average is $22.19.

Olin (NYSE:OLN) last issued its quarterly earnings results on Thursday, October 29th. The specialty chemicals company reported $0.13 earnings per share for the quarter, missing analysts’ consensus estimates of $0.15 by ($0.02). Olin had a negative return on equity of 6.63% and a negative net margin of 2.49%. The company had revenue of $1.75 billion during the quarter, compared to analysts’ expectations of $1.83 billion. During the same period last year, the firm posted $0.37 earnings per share. Olin’s quarterly revenue was up 2.0% compared to the same quarter last year. As a group, equities research analysts anticipate that Olin will post -0.83 earnings per share for the current year.

Olin Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, September 11th. Shareholders of record on Thursday, August 27th were paid a $0.20 dividend. This represents a $0.80 dividend on an annualized basis and a yield of 4.4%. The ex-dividend date of this dividend was Thursday, August 27th. Olin’s payout ratio is -54.42%.

Institutional Investors Weigh In On Olin

Several institutional investors and hedge funds have recently bought and sold shares of the business. Oregon Public Employees Retirement Fund lifted its stake in Olin by 2.2% during the 1st quarter. Oregon Public Employees Retirement Fund now owns 23,302 shares of the specialty chemicals company’s stock valued at $693,000 after acquiring an additional 500 shares during the period. First Citizens Bank & Trust Co. grew its stake in shares of Olin by 2.0% in the first quarter. First Citizens Bank & Trust Co. now owns 31,230 shares of the specialty chemicals company’s stock worth $928,000 after acquiring an additional 609 shares during the period. Rockefeller Capital Management L.P. grew its stake in shares of Olin by 115.2% in 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 during the period. Cowa LLC grew its stake in shares of Olin by 8.1% in the third quarter. Cowa LLC now owns 11,919 shares of the specialty chemicals company’s stock worth $185,000 after acquiring an additional 890 shares during the period. Finally, ARGA Investment Management LP grew its stake in shares of Olin by 2.5% in the first quarter. ARGA Investment Management LP now owns 61,315 shares of the specialty chemicals company’s stock worth $1,823,000 after acquiring an additional 1,502 shares during the period. Hedge funds and other institutional investors 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.