Olin Corporation (NYSE:OLN) Receives Average Rating of “Hold” from Analysts

Olin Corporation (NYSE:OLN) has earned an average rating of “Hold” from the sixteen research firms that are currently covering the firm, MarketBeat reports. Four equities research analysts have rated the stock with a sell recommendation, nine have issued a hold recommendation, two have assigned a buy recommendation and one has assigned a strong buy recommendation to the company. The average 12-month price target among brokers that have covered the stock in the last year is $26.4615.

A number of equities analysts have issued reports on OLN shares. Weiss Ratings reaffirmed a “sell (d)” rating on shares of Olin in a report on Friday, May 22nd. Royal Bank Of Canada set a $30.00 price target on Olin and gave the company a “sector perform” rating in a research note on Friday, April 10th. Mizuho reduced their price target on Olin from $26.00 to $23.00 and set a “neutral” rating on the stock in a report on Wednesday, July 1st. Morgan Stanley upped their price objective on Olin from $18.00 to $22.00 and gave the company an “underweight” rating in a research note on Monday, May 11th. Finally, Citigroup lowered shares of Olin from a “neutral” rating to an “underperform” rating in a report on Tuesday, June 30th.

Olin Trading Up 0.1%

NYSE OLN opened at $23.21 on Monday. The company has a quick ratio of 0.82, a current ratio of 1.36 and a debt-to-equity ratio of 1.73. Olin has a twelve month low of $18.08 and a twelve month high of $30.46. The company has a market cap of $2.64 billion, a price-to-earnings ratio of -20.73 and a beta of 1.21. The business’s fifty day moving average is $23.23 and its 200 day moving average is $24.81.

Olin Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, June 12th. Shareholders of record on Thursday, May 14th were given a $0.20 dividend. This represents a $0.80 annualized dividend and a yield of 3.4%. The ex-dividend date was Thursday, May 14th. Olin’s dividend payout ratio is -71.43%.

Hedge Funds Weigh In On Olin

Several large investors have recently modified their holdings of the business. Rockefeller Capital Management L.P. lifted its holdings in shares of Olin by 115.2% during the fourth quarter. Rockefeller Capital Management L.P. now owns 1,231 shares of the specialty chemicals company’s stock worth $26,000 after purchasing an additional 659 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. acquired a new stake in Olin in the first quarter valued at $32,000. Allworth Financial LP increased its holdings in Olin by 114.0% in the third quarter. Allworth Financial LP now owns 1,740 shares of the specialty chemicals company’s stock valued at $43,000 after purchasing an additional 927 shares during the period. Sunbelt Securities Inc. acquired a new stake in Olin in the first quarter valued at $45,000. Finally, UMB Bank n.a. raised its position in Olin by 34.0% during the 4th quarter. UMB Bank n.a. now owns 2,597 shares of the specialty chemicals company’s stock worth $54,000 after purchasing an additional 659 shares during the last quarter. Institutional investors own 88.67% of the company’s stock.

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.