Olin Corporation (NYSE:OLN) Receives $27.08 Average Price Target from Brokerages

Shares of Olin Corporation (NYSE:OLN) have earned a consensus recommendation of “Hold” from the sixteen research firms that are covering the firm, MarketBeat reports. Four research analysts have rated the stock with a sell rating, nine have issued a hold rating, two have given a buy rating and one has issued a strong buy rating on the company. The average 1 year price objective among brokers that have issued ratings on the stock in the last year is $27.1538.

Several research firms have recently commented on OLN. Mizuho decreased their price objective on Olin from $26.00 to $23.00 and set a “neutral” rating on the stock in a research note on Wednesday, July 1st. Wall Street Zen lowered shares of Olin from a “hold” rating to a “sell” rating in a report on Saturday, June 27th. Wells Fargo & Company restated an “overweight” rating and set a $37.00 target price on shares of Olin in a research note on Sunday, May 10th. Morgan Stanley lifted their price target on shares of Olin from $18.00 to $22.00 and gave the company an “underweight” rating in a report on Monday, May 11th. Finally, Bank of America cut shares of Olin from a “buy” rating to an “underperform” rating and reduced their price objective for the stock from $32.00 to $21.00 in a research note on Tuesday, June 30th.

Institutional Investors Weigh In On Olin

A number of institutional investors and hedge funds have recently bought and sold shares of the business. Hotchkis & Wiley Capital Management LLC grew its position in shares of Olin by 5.5% during the third quarter. Hotchkis & Wiley Capital Management LLC now owns 12,690,488 shares of the specialty chemicals company’s stock worth $317,135,000 after purchasing an additional 661,730 shares in the last quarter. Dimensional Fund Advisors LP lifted its holdings in Olin by 22.4% in the 1st quarter. Dimensional Fund Advisors LP now owns 5,627,997 shares of the specialty chemicals company’s stock worth $167,311,000 after purchasing an additional 1,031,498 shares in the last quarter. State Street Corp lifted its holdings in Olin by 1.1% in the 2nd quarter. State Street Corp now owns 4,830,406 shares of the specialty chemicals company’s stock worth $97,043,000 after purchasing an additional 50,309 shares in the last quarter. Pzena Investment Management LLC boosted its stake in Olin by 17.5% in the 4th quarter. Pzena Investment Management LLC now owns 4,507,913 shares of the specialty chemicals company’s stock worth $93,900,000 after purchasing an additional 671,250 shares during the period. Finally, Orbis Allan Gray Ltd boosted its stake in Olin by 448.9% in the 4th quarter. Orbis Allan Gray Ltd now owns 3,804,561 shares of the specialty chemicals company’s stock worth $79,249,000 after purchasing an additional 3,111,393 shares during the period. 88.67% of the stock is owned by institutional investors.

Olin Stock Performance

NYSE OLN traded up $0.20 on Thursday, hitting $19.95. 312,684 shares of the company traded hands, compared to its average volume of 2,932,304. The company has a market capitalization of $2.27 billion, a price-to-earnings ratio of -17.84 and a beta of 1.21. The company has a current ratio of 1.36, a quick ratio of 0.82 and a debt-to-equity ratio of 1.73. The business’s 50 day moving average price is $24.80 and its 200-day moving average price is $24.69. Olin has a 52-week low of $18.08 and a 52-week high of $30.46.

Olin Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, June 12th. Shareholders of record on Thursday, May 14th were paid a $0.20 dividend. This represents a $0.80 dividend on an annualized basis and a yield of 4.0%. The ex-dividend date was Thursday, May 14th. Olin’s dividend payout ratio is presently -71.43%.

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.