Brokerages Set Olin Corporation (NYSE:OLN) Price Target at $24.00

Olin Corporation (NYSE:OLN) has earned a consensus recommendation of “Hold” from the seventeen research firms that are currently covering the stock, MarketBeat.com reports. Three analysts have rated the stock with a sell recommendation, eleven have given a hold recommendation, two have assigned a buy recommendation and one has issued a strong buy recommendation on the company. The average 1 year target price among analysts that have covered the stock in the last year is $22.8571.

Several analysts have issued reports on the stock. Zacks Research cut shares of Olin from a “hold” rating to a “strong sell” rating in a research note on Thursday, January 29th. Truist Financial reduced their price objective on Olin from $23.00 to $20.00 and set a “hold” rating on the stock in a research note on Monday, February 2nd. Wall Street Zen cut shares of Olin from a “hold” rating to a “sell” rating in a report on Saturday, January 10th. BMO Capital Markets lowered their target price on shares of Olin from $25.00 to $24.00 and set a “market perform” rating for the company in a report on Tuesday. Finally, UBS Group set a $21.00 price objective on shares of Olin in a report on Monday.

Olin Price Performance

NYSE OLN opened at $24.88 on Monday. The firm’s 50-day simple moving average is $22.03 and its two-hundred day simple moving average is $22.14. The company has a market cap of $2.84 billion, a PE ratio of -65.47 and a beta of 1.64. Olin has a 52 week low of $17.66 and a 52 week high of $28.77. The company has a quick ratio of 0.81, a current ratio of 1.35 and a debt-to-equity ratio of 1.46.

Olin (NYSE:OLN) last issued its earnings results on Thursday, January 29th. The specialty chemicals company reported ($0.58) earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of ($0.58). Olin had a negative net margin of 0.63% and a negative return on equity of 0.47%. The business had revenue of $1.67 billion for the quarter, compared to analysts’ expectations of $1.61 billion. During the same quarter in the previous year, the firm posted $0.09 EPS. The business’s revenue for the quarter was down .4% compared to the same quarter last year. Research analysts predict that Olin will post 1.38 earnings per share for the current year.

Olin Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, December 12th. Stockholders of record on Friday, November 28th were paid a $0.20 dividend. The ex-dividend date of this dividend was Friday, November 28th. This represents a $0.80 dividend on an annualized basis and a dividend yield of 3.2%. Olin’s dividend payout ratio is -210.53%.

Insider Buying and Selling at Olin

In related news, CFO Todd A. Slater sold 92,250 shares of the firm’s stock in a transaction that occurred on Tuesday, February 3rd. The stock was sold at an average price of $22.48, for a total transaction of $2,073,780.00. Following the completion of the sale, the chief financial officer directly owned 44,291 shares of the company’s stock, valued at approximately $995,661.68. This trade represents a 67.56% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, VP R Nichole Sumner sold 4,750 shares of Olin stock in a transaction that occurred 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 sale, the vice president directly owned 24,771 shares of the company’s stock, valued at $557,099.79. This represents a 16.09% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 101,500 shares of company stock valued at $2,274,478 in the last three months. 1.60% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the stock. Covestor Ltd grew its position in shares of Olin by 10.6% during the fourth quarter. Covestor Ltd now owns 5,189 shares of the specialty chemicals company’s stock worth $108,000 after buying an additional 497 shares in the last quarter. ARGA Investment Management LP boosted its stake in shares of Olin by 0.9% during the third quarter. ARGA Investment Management LP now owns 60,359 shares of the specialty chemicals company’s stock worth $1,508,000 after buying an additional 546 shares during the period. Madison Asset Management LLC increased its holdings in shares of Olin by 0.6% in the fourth quarter. Madison Asset Management LLC now owns 97,616 shares of the specialty chemicals company’s stock valued at $2,033,000 after purchasing an additional 555 shares during the period. Wilmington Savings Fund Society FSB lifted its stake in shares of Olin by 9.9% in the 3rd quarter. Wilmington Savings Fund Society FSB now owns 6,412 shares of the specialty chemicals company’s stock worth $160,000 after acquiring an additional 579 shares during the period. Finally, FORA Capital LLC boosted its holdings in Olin by 2.6% in the 2nd quarter. FORA Capital LLC now owns 24,453 shares of the specialty chemicals company’s stock valued at $491,000 after purchasing an additional 625 shares in the last quarter. 88.67% of the stock is currently owned by hedge funds and other institutional investors.

About Olin

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.