Olin Corporation (NYSE:OLN) Given Average Recommendation of “Hold” by Analysts

Shares of Olin Corporation (NYSE:OLN) have been given an average recommendation of “Hold” by the sixteen brokerages that are covering the stock, MarketBeat Ratings reports. Two investment analysts have rated the stock with a sell recommendation, ten have given a hold recommendation, three have given a buy recommendation and one has assigned a strong buy recommendation to the company. The average 12 month price objective among analysts that have updated their coverage on the stock in the last year is $28.0769.

OLN has been the subject of several recent research reports. Wells Fargo & Company reissued an “overweight” rating and issued a $37.00 price objective on shares of Olin in a report on Sunday, May 10th. The Goldman Sachs Group lifted their price objective on Olin from $22.00 to $31.00 and gave the stock a “neutral” rating in a report on Tuesday, May 12th. Weiss Ratings reissued a “sell (d)” rating on shares of Olin in a report on Friday, May 22nd. Royal Bank Of Canada set a $30.00 price objective on Olin and gave the stock a “sector perform” rating in a report on Friday, April 10th. Finally, Deutsche Bank Aktiengesellschaft reissued a “hold” rating and issued a $26.00 price objective on shares of Olin in a report on Tuesday, February 10th.

Institutional Trading of Olin

A number of hedge funds and other institutional investors have recently made changes to their positions in OLN. Orbis Allan Gray Ltd raised its stake in shares of Olin by 448.9% during the 4th quarter. Orbis Allan Gray Ltd now owns 3,804,561 shares of the specialty chemicals company’s stock valued at $79,249,000 after purchasing an additional 3,111,393 shares during the period. Millennium Management LLC raised its stake in shares of Olin by 1,063.0% during the 3rd quarter. Millennium Management LLC now owns 2,486,702 shares of the specialty chemicals company’s stock valued at $62,143,000 after purchasing an additional 2,272,877 shares during the period. Semper Augustus Investments Group LLC raised its stake in shares of Olin by 141.3% during the 3rd quarter. Semper Augustus Investments Group LLC now owns 1,924,245 shares of the specialty chemicals company’s stock valued at $48,087,000 after purchasing an additional 1,126,809 shares during the period. Dimensional Fund Advisors LP raised its stake in shares of Olin by 22.4% during the 1st quarter. Dimensional Fund Advisors LP now owns 5,627,997 shares of the specialty chemicals company’s stock valued at $167,311,000 after purchasing an additional 1,031,498 shares during the period. Finally, Amundi bought a new stake in shares of Olin during the 3rd quarter valued at $24,418,000. 88.67% of the stock is currently owned by institutional investors.

Olin Trading Down 1.7%

Shares of OLN opened at $24.50 on Friday. The business has a 50-day moving average of $27.40 and a 200 day moving average of $24.43. Olin has a fifty-two week low of $18.08 and a fifty-two week high of $30.46. The firm has a market cap of $2.79 billion, a P/E ratio of -21.87 and a beta of 1.17. The company has a debt-to-equity ratio of 1.73, a quick ratio of 0.82 and a current ratio of 1.36.

Olin Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, June 12th. Investors of record on Thursday, May 14th will be issued a $0.20 dividend. The ex-dividend date of this dividend is Thursday, May 14th. This represents a $0.80 annualized dividend and a yield of 3.3%. Olin’s dividend payout ratio (DPR) is -71.43%.

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.