Olin Corporation (NYSE:OLN) Given Consensus Rating of “Hold” by Analysts

Shares of Olin Corporation (NYSE:OLN) have received a consensus recommendation of “Hold” from the fifteen analysts that are currently covering the stock, MarketBeat.com reports. One research analyst has rated the stock with a sell recommendation, eleven have issued a hold recommendation and three have issued a buy recommendation on the company. The average 12 month price objective among analysts that have issued a report on the stock in the last year is $27.80.

OLN has been the subject of a number of research reports. The Goldman Sachs Group reduced their price objective on Olin from $33.00 to $25.00 and set a “neutral” rating for the company in a research report on Tuesday, May 6th. Piper Sandler cut their price target on Olin from $33.00 to $26.00 and set a “neutral” rating for the company in a report on Monday, April 7th. KeyCorp dropped their price objective on Olin from $40.00 to $34.00 and set an “overweight” rating for the company in a research note on Monday, April 14th. Royal Bank Of Canada dropped their price objective on Olin from $28.00 to $25.00 and set a “sector perform” rating for the company in a research note on Monday, May 5th. Finally, JPMorgan Chase & Co. dropped their price target on Olin from $28.00 to $20.00 and set a “neutral” rating for the company in a research note on Tuesday, May 6th.

Olin Stock Down 0.6%

OLN stock opened at $19.31 on Friday. The stock has a market capitalization of $2.22 billion, a P/E ratio of 37.87 and a beta of 1.53. The company has a debt-to-equity ratio of 1.48, a current ratio of 1.56 and a quick ratio of 0.96. Olin has a 1-year low of $17.66 and a 1-year high of $50.75. The business has a fifty day moving average price of $20.74 and a 200-day moving average price of $26.14.

Olin (NYSE:OLN) last posted its quarterly earnings data on Thursday, May 1st. The specialty chemicals company reported $0.04 EPS for the quarter, beating analysts’ consensus estimates of ($0.10) by $0.14. The company had revenue of $1.64 billion during the quarter, compared to analysts’ expectations of $1.58 billion. Olin had a return on equity of 3.13% and a net margin of 0.94%. Olin’s revenue for the quarter was up 1.2% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.40 earnings per share. Equities analysts forecast that Olin will post 1.38 earnings per share for the current fiscal year.

Olin Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, June 13th. Shareholders of record on Thursday, May 15th were given a dividend of $0.20 per share. The ex-dividend date was Thursday, May 15th. This represents a $0.80 dividend on an annualized basis and a yield of 4.14%. Olin’s dividend payout ratio (DPR) is presently 156.86%.

Institutional Investors Weigh In On Olin

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Covestor Ltd raised its holdings in shares of Olin by 45.8% in the fourth quarter. Covestor Ltd now owns 1,334 shares of the specialty chemicals company’s stock worth $45,000 after buying an additional 419 shares during the period. Connable Office Inc. grew its stake in Olin by 9.3% in the fourth quarter. Connable Office Inc. now owns 6,207 shares of the specialty chemicals company’s stock worth $210,000 after purchasing an additional 527 shares in the last quarter. Vestcor Inc grew its stake in Olin by 4.6% in the first quarter. Vestcor Inc now owns 12,630 shares of the specialty chemicals company’s stock worth $306,000 after purchasing an additional 558 shares in the last quarter. Fifth Third Bancorp grew its stake in Olin by 160.5% in the first quarter. Fifth Third Bancorp now owns 1,206 shares of the specialty chemicals company’s stock worth $29,000 after purchasing an additional 743 shares in the last quarter. Finally, Xponance Inc. boosted its position in Olin by 5.9% during the 4th quarter. Xponance Inc. now owns 13,435 shares of the specialty chemicals company’s stock valued at $454,000 after acquiring an additional 754 shares in 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.