Olin Corporation (NYSE:OLN) Receives Consensus Recommendation of “Hold” from Analysts

Olin Corporation (NYSE:OLN) has received an average recommendation of “Hold” from the eighteen analysts that are covering the stock, MarketBeat reports. Three equities research analysts have rated the stock with a sell recommendation, twelve have assigned a hold recommendation, two have issued a buy recommendation and one has assigned a strong buy recommendation to the company. The average 12 month price target among brokerages that have issued ratings on the stock in the last year is $23.20.

A number of analysts have issued reports on the company. Citigroup decreased their price target on Olin from $24.00 to $21.00 and set a “neutral” rating on the stock in a research note on Tuesday, February 3rd. Morgan Stanley cut their price objective on shares of Olin from $20.00 to $18.00 and set an “underweight” rating on the stock in a report on Monday, February 2nd. Mizuho boosted their target price on shares of Olin from $22.00 to $24.00 and gave the company a “neutral” rating in a report on Tuesday, February 17th. Royal Bank Of Canada dropped their price target on shares of Olin from $24.00 to $21.00 and set a “sector perform” rating for the company in a research report on Monday, February 2nd. Finally, Truist Financial cut their price target on shares of Olin from $23.00 to $20.00 and set a “hold” rating on the stock in a research note on Monday, February 2nd.

Insider Activity at Olin

In other Olin news, CFO Todd A. Slater sold 92,250 shares of the business’s stock in a transaction dated 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 owned 44,291 shares of the company’s stock, valued at approximately $995,661.68. The trade was a 67.56% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, VP R Nichole Sumner sold 4,750 shares of the company’s stock in a transaction dated Tuesday, February 3rd. The stock was sold at an average price of $22.49, for a total value of $106,827.50. Following the sale, the vice president owned 24,771 shares of the company’s stock, valued at $557,099.79. This represents a 16.09% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last 90 days, insiders have sold 99,379 shares of company stock worth $2,238,298. 1.60% of the stock is owned by insiders.

Institutional Inflows and Outflows

Several hedge funds have recently bought and sold shares of OLN. Strategic Advocates LLC acquired a new position in Olin during the third quarter valued at approximately $25,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. purchased a new position in shares of Olin in the 1st quarter valued at $32,000. Bessemer Group Inc. raised its stake in shares of Olin by 712.7% in the 3rd quarter. Bessemer Group Inc. now owns 1,341 shares of the specialty chemicals company’s stock valued at $34,000 after acquiring an additional 1,176 shares during the period. Evelyn Partners Investment Management LLP lifted its holdings in shares of Olin by 6,360.0% during the 2nd quarter. Evelyn Partners Investment Management LLP now owns 1,615 shares of the specialty chemicals company’s stock valued at $32,000 after acquiring an additional 1,590 shares in the last quarter. Finally, Allworth Financial LP boosted its position in Olin by 114.0% during the 3rd quarter. Allworth Financial LP now owns 1,740 shares of the specialty chemicals company’s stock worth $43,000 after purchasing an additional 927 shares during the period. Hedge funds and other institutional investors own 88.67% of the company’s stock.

Olin Trading Down 0.4%

Shares of OLN opened at $23.92 on Friday. Olin has a fifty-two week low of $17.66 and a fifty-two week high of $27.35. The company has a market capitalization of $2.72 billion, a PE ratio of -62.95 and a beta of 1.64. The stock has a fifty day moving average of $23.09 and a two-hundred day moving average of $22.62. The company has a debt-to-equity ratio of 1.45, a quick ratio of 0.81 and a current ratio of 1.21.

Olin (NYSE:OLN) last announced its quarterly earnings data on Thursday, January 29th. The specialty chemicals company reported ($0.58) EPS for the quarter, meeting analysts’ consensus estimates of ($0.58). The business had revenue of $1.67 billion during the quarter, compared to the consensus estimate of $1.61 billion. Olin had a negative return on equity of 0.48% and a negative net margin of 0.63%.The business’s revenue for the quarter was down .4% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.09 earnings per share. As a group, analysts forecast that Olin will post 1.38 EPS for the current year.

Olin Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, March 13th. Investors of record on Tuesday, March 3rd will be given a $0.20 dividend. This represents a $0.80 annualized dividend and a dividend yield of 3.3%. The ex-dividend date of this dividend is Tuesday, March 3rd. Olin’s dividend payout ratio (DPR) is -210.53%.

Olin Company Profile

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.