Olin (NYSE:OLN) Price Target Raised to $69.00 at Royal Bank of Canada

Olin (NYSE:OLN) had its price objective raised by Royal Bank of Canada from $64.00 to $69.00 in a research note released on Friday, Benzinga reports. Royal Bank of Canada currently has an outperform rating on the specialty chemicals company’s stock.

Several other brokerages have also issued reports on OLN. Barclays boosted their target price on Olin from $57.00 to $59.00 and gave the company an equal weight rating in a research note on Thursday, April 4th. KeyCorp boosted their price objective on Olin from $66.00 to $78.00 and gave the company an overweight rating in a research note on Tuesday, April 9th. UBS Group boosted their price objective on Olin from $56.00 to $58.00 and gave the company a neutral rating in a research note on Friday, January 26th. The Goldman Sachs Group boosted their price objective on Olin from $55.00 to $61.00 and gave the company a neutral rating in a research note on Tuesday, January 30th. Finally, Citigroup boosted their price objective on Olin from $63.00 to $67.00 and gave the company a buy rating in a research note on Wednesday, April 10th. Two analysts have rated the stock with a sell rating, eight have given a hold rating and five have given a buy rating to the stock. Based on data from MarketBeat.com, Olin presently has a consensus rating of Hold and a consensus target price of $59.33.

Olin Stock Performance

Shares of OLN opened at $53.84 on Friday. The firm has a market cap of $6.44 billion, a PE ratio of 15.21, a PEG ratio of 0.29 and a beta of 1.44. The stock’s fifty day moving average price is $55.50 and its two-hundred day moving average price is $51.52. The company has a debt-to-equity ratio of 1.14, a current ratio of 1.29 and a quick ratio of 0.73. Olin has a 1 year low of $41.71 and a 1 year high of $60.60.

Olin (NYSE:OLN) last issued its earnings results on Thursday, January 25th. The specialty chemicals company reported $0.30 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.20 by $0.10. The firm had revenue of $1.61 billion for the quarter, compared to analyst estimates of $1.50 billion. Olin had a return on equity of 18.44% and a net margin of 6.74%. On average, equities research analysts forecast that Olin will post 3.75 EPS for the current year.

Olin Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, March 15th. Investors of record on Thursday, March 7th were given a dividend of $0.20 per share. This represents a $0.80 annualized dividend and a yield of 1.49%. The ex-dividend date was Wednesday, March 6th. Olin’s payout ratio is 22.60%.

Insider Buying and Selling

In related news, CFO Todd A. Slater sold 63,250 shares of the business’s stock in a transaction dated Tuesday, January 30th. The stock was sold at an average price of $54.15, for a total transaction of $3,424,987.50. Following the completion of the transaction, the chief financial officer now directly owns 137,517 shares in the company, valued at $7,446,545.55. The transaction was disclosed in a document filed with the SEC, which is available through this link. In other news, CEO Scott Mcdougald Sutton sold 48,896 shares of the company’s stock in a transaction dated Tuesday, February 27th. The stock was sold at an average price of $52.39, for a total value of $2,561,661.44. Following the completion of the transaction, the chief executive officer now directly owns 90,327 shares in the company, valued at approximately $4,732,231.53. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Todd A. Slater sold 63,250 shares of the company’s stock in a transaction dated Tuesday, January 30th. The stock was sold at an average price of $54.15, for a total value of $3,424,987.50. Following the completion of the transaction, the chief financial officer now owns 137,517 shares of the company’s stock, valued at $7,446,545.55. The disclosure for this sale can be found here. Insiders sold a total of 753,274 shares of company stock worth $40,434,124 over the last ninety days. 1.80% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Olin

A number of hedge funds and other institutional investors have recently modified their holdings of OLN. SG Americas Securities LLC lifted its position in Olin by 59.2% in the third quarter. SG Americas Securities LLC now owns 24,824 shares of the specialty chemicals company’s stock valued at $1,241,000 after purchasing an additional 9,232 shares during the last quarter. Xponance Inc. grew its holdings in shares of Olin by 3.0% in the third quarter. Xponance Inc. now owns 15,174 shares of the specialty chemicals company’s stock worth $758,000 after purchasing an additional 444 shares during the last quarter. FinTrust Capital Advisors LLC grew its holdings in shares of Olin by 651.4% in the third quarter. FinTrust Capital Advisors LLC now owns 37,569 shares of the specialty chemicals company’s stock worth $1,878,000 after purchasing an additional 32,569 shares during the last quarter. Raymond James Financial Services Advisors Inc. grew its holdings in shares of Olin by 209.4% in the third quarter. Raymond James Financial Services Advisors Inc. now owns 50,657 shares of the specialty chemicals company’s stock worth $2,532,000 after purchasing an additional 34,285 shares during the last quarter. Finally, Arnhold LLC grew its holdings in shares of Olin by 29.8% in the third quarter. Arnhold LLC now owns 225,338 shares of the specialty chemicals company’s stock worth $11,262,000 after purchasing an additional 51,768 shares during the last quarter. 88.67% of the stock is currently owned by hedge funds and other institutional investors.

About Olin

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.