Brokerages Set Olin Co. (NYSE:OLN) Price Target at $59.33

Olin Co. (NYSE:OLN) has earned an average rating of “Hold” from the fourteen brokerages that are presently covering the stock, MarketBeat Ratings reports. Two analysts have rated the stock with a sell recommendation, seven have issued a hold recommendation and five have given a buy recommendation to the company. The average twelve-month target price among brokerages that have issued a report on the stock in the last year is $59.33.

OLN has been the subject of a number of analyst reports. Royal Bank of Canada upped their price objective on Olin from $64.00 to $69.00 and gave the stock an “outperform” rating in a research report on Friday, April 19th. Stifel Nicolaus lifted their price objective on shares of Olin from $65.00 to $66.00 and gave the company a “buy” rating in a report on Monday, January 29th. UBS Group increased their target price on shares of Olin from $56.00 to $58.00 and gave the stock a “neutral” rating in a research note on Friday, January 26th. The Goldman Sachs Group raised their target price on Olin from $55.00 to $61.00 and gave the company a “neutral” rating in a research report on Tuesday, January 30th. Finally, Citigroup upped their price target on Olin from $63.00 to $67.00 and gave the stock a “buy” rating in a report on Wednesday, April 10th.

Insider Activity at Olin

In other Olin news, CEO Scott Mcdougald Sutton sold 15,000 shares of the firm’s stock in a transaction that occurred on Thursday, February 22nd. The shares were sold at an average price of $52.50, for a total value of $787,500.00. Following the transaction, the chief executive officer now directly owns 75,327 shares of the company’s stock, valued at approximately $3,954,667.50. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. In other Olin news, CFO Todd A. Slater sold 63,250 shares of the business’s stock in a transaction dated Tuesday, January 30th. The shares were sold at an average price of $54.15, for a total value of $3,424,987.50. Following the transaction, the chief financial officer now directly owns 137,517 shares in the company, valued at approximately $7,446,545.55. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Scott Mcdougald Sutton sold 15,000 shares of the firm’s stock in a transaction that occurred on Thursday, February 22nd. The stock was sold at an average price of $52.50, for a total transaction of $787,500.00. Following the sale, the chief executive officer now owns 75,327 shares of the company’s stock, valued at approximately $3,954,667.50. The disclosure for this sale can be found here. In the last quarter, insiders sold 753,274 shares of company stock valued at $40,434,124. Corporate insiders own 1.60% of the company’s stock.

Institutional Inflows and Outflows

Large investors have recently added to or reduced their stakes in the business. Boston Partners lifted its position in Olin by 122.8% in the fourth quarter. Boston Partners now owns 5,029,377 shares of the specialty chemicals company’s stock valued at $271,152,000 after buying an additional 2,772,274 shares during the last quarter. Norges Bank acquired a new stake in Olin in the 4th quarter valued at approximately $76,125,000. Balyasny Asset Management L.P. raised its position in Olin by 218.6% in the fourth quarter. Balyasny Asset Management L.P. now owns 1,649,273 shares of the specialty chemicals company’s stock valued at $88,978,000 after purchasing an additional 1,131,674 shares during the period. Pzena Investment Management LLC lifted its stake in Olin by 15.6% during the third quarter. Pzena Investment Management LLC now owns 2,940,658 shares of the specialty chemicals company’s stock worth $146,974,000 after purchasing an additional 397,050 shares in the last quarter. Finally, Luminus Management LLC lifted its stake in Olin by 119.6% during the third quarter. Luminus Management LLC now owns 524,753 shares of the specialty chemicals company’s stock worth $26,227,000 after purchasing an additional 285,789 shares in the last quarter. 88.67% of the stock is currently owned by institutional investors and hedge funds.

Olin Stock Up 1.2 %

NYSE:OLN opened at $53.48 on Tuesday. The company has a debt-to-equity ratio of 1.14, a current ratio of 1.29 and a quick ratio of 0.73. The company’s fifty day moving average price is $55.63 and its 200-day moving average price is $51.65. Olin has a 1-year low of $41.71 and a 1-year high of $60.60. The firm has a market capitalization of $6.40 billion, a P/E ratio of 19.24, a PEG ratio of 0.29 and a beta of 1.44.

Olin (NYSE:OLN) last announced its quarterly earnings results on Friday, April 26th. The specialty chemicals company reported $0.40 earnings per share for the quarter, topping the consensus estimate of $0.36 by $0.04. The company had revenue of $1.64 billion for the quarter, compared to the consensus estimate of $1.65 billion. Olin had a return on equity of 14.22% and a net margin of 5.32%. The firm’s revenue for the quarter was down 11.3% compared to the same quarter last year. During the same period last year, the firm earned $1.16 EPS. As a group, equities research analysts anticipate that Olin will post 3.73 EPS for the current year.

Olin Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, June 14th. Stockholders of record on Thursday, May 9th will be paid a $0.20 dividend. This represents a $0.80 annualized dividend and a dividend yield of 1.50%. The ex-dividend date is Wednesday, May 8th. Olin’s dividend payout ratio is currently 28.78%.

Olin Company Profile

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.