Olin Co. (NYSE:OLN) Given Consensus Recommendation of “Hold” by Brokerages

Shares of Olin Co. (NYSE:OLN) have been given an average recommendation of “Hold” by the fifteen research firms that are covering the company, MarketBeat.com reports. One investment analyst has rated the stock with a sell rating, eleven have issued a hold rating and three have given a buy rating to the company. The average 1 year price target among analysts that have issued ratings on the stock in the last year is $28.07.

OLN has been the subject of a number of analyst reports. Piper Sandler decreased their price objective on Olin from $33.00 to $26.00 and set a “neutral” rating for the company in a research note on Monday, April 7th. The Goldman Sachs Group decreased their price target on shares of Olin from $33.00 to $25.00 and set a “neutral” rating for the company in a research report on Tuesday, May 6th. BMO Capital Markets lowered their price target on shares of Olin from $44.00 to $34.00 and set a “market perform” rating on the stock in a report on Wednesday, February 5th. JPMorgan Chase & Co. reduced their price objective on shares of Olin from $28.00 to $20.00 and set a “neutral” rating for the company in a research note on Tuesday, May 6th. Finally, Citigroup decreased their target price on shares of Olin from $34.00 to $30.00 and set a “buy” rating for the company in a research report on Thursday, March 27th.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently made changes to their positions in OLN. Covestor Ltd grew its holdings in shares of Olin by 45.8% during the fourth quarter. Covestor Ltd now owns 1,334 shares of the specialty chemicals company’s stock valued at $45,000 after buying an additional 419 shares during the last quarter. Wilmington Savings Fund Society FSB lifted its position in Olin by 9.4% during the 4th quarter. Wilmington Savings Fund Society FSB now owns 5,833 shares of the specialty chemicals company’s stock worth $197,000 after acquiring an additional 500 shares during the period. Connable Office Inc. grew its stake in Olin by 9.3% during the 4th quarter. Connable Office Inc. now owns 6,207 shares of the specialty chemicals company’s stock valued at $210,000 after purchasing an additional 527 shares during the last quarter. First Citizens Bank & Trust Co. increased its holdings in shares of Olin by 8.5% in the fourth quarter. First Citizens Bank & Trust Co. now owns 6,930 shares of the specialty chemicals company’s stock valued at $234,000 after purchasing an additional 542 shares during the period. Finally, Vestcor Inc increased its holdings in shares of Olin by 4.6% in the first quarter. Vestcor Inc now owns 12,630 shares of the specialty chemicals company’s stock valued at $306,000 after purchasing an additional 558 shares during the period. Hedge funds and other institutional investors own 88.67% of the company’s stock.

Olin Price Performance

NYSE OLN opened at $20.40 on Wednesday. The company has a market cap of $2.35 billion, a PE ratio of 22.67 and a beta of 1.56. The firm’s 50 day moving average price is $21.55 and its 200-day moving average price is $28.92. The company has a debt-to-equity ratio of 1.32, a quick ratio of 0.77 and a current ratio of 1.27. Olin has a 52-week low of $17.66 and a 52-week high of $54.86.

Olin (NYSE:OLN) last posted its earnings results on Thursday, May 1st. The specialty chemicals company reported $0.04 earnings per share for the quarter, topping analysts’ consensus estimates of ($0.10) by $0.14. The company had revenue of $1.64 billion during the quarter, compared to analyst estimates of $1.58 billion. Olin had a return on equity of 5.10% and a net margin of 1.66%. Olin’s revenue was up 1.2% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.40 earnings per share. Sell-side analysts forecast that Olin will post 1.38 EPS for the current fiscal year.

Olin Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, June 13th. Shareholders of record on Thursday, May 15th will be given a dividend of $0.20 per share. This represents a $0.80 annualized dividend and a yield of 3.92%. The ex-dividend date of this dividend is Thursday, May 15th. Olin’s dividend payout ratio is presently 156.86%.

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.