Analysts Set Olin Co. (NYSE:OLN) Target Price at $30.93

Shares of Olin Co. (NYSE:OLN) have been assigned an average recommendation of “Hold” from the fifteen analysts that are presently covering the stock, MarketBeat reports. One equities research analyst has rated the stock with a sell recommendation, eleven have issued a hold recommendation and three have assigned a buy recommendation to the company. The average 1-year price target among analysts that have updated their coverage on the stock in the last year is $30.53.

Several research firms have commented on OLN. Truist Financial dropped their target price on shares of Olin from $25.00 to $24.00 and set a “hold” rating on the stock in a research report on Monday. UBS Group boosted their price objective on Olin from $21.00 to $22.00 and gave the stock a “neutral” rating in a research report on Friday. Mizuho set a $23.00 target price on Olin in a research report on Tuesday, April 15th. Royal Bank of Canada lowered their target price on Olin from $28.00 to $25.00 and set a “sector perform” rating on the stock in a research note on Monday. Finally, Barclays reduced their price target on shares of Olin from $34.00 to $28.00 and set an “equal weight” rating for the company in a research report on Tuesday, April 1st.

Institutional Investors Weigh In On Olin

Hedge funds and other institutional investors have recently bought and sold shares of the business. Thrivent Financial for Lutherans grew its position in shares of Olin by 5,746.2% in the fourth quarter. Thrivent Financial for Lutherans now owns 1,613,796 shares of the specialty chemicals company’s stock valued at $54,546,000 after purchasing an additional 1,586,192 shares in the last quarter. Norges Bank bought a new position in Olin in the 4th quarter worth about $47,887,000. Fuller & Thaler Asset Management Inc. increased its position in shares of Olin by 11.5% during the fourth quarter. Fuller & Thaler Asset Management Inc. now owns 4,543,844 shares of the specialty chemicals company’s stock valued at $153,582,000 after buying an additional 467,680 shares during the period. Two Sigma Investments LP lifted its holdings in shares of Olin by 890.4% in the fourth quarter. Two Sigma Investments LP now owns 451,020 shares of the specialty chemicals company’s stock worth $15,244,000 after buying an additional 405,480 shares in the last quarter. Finally, Marshall Wace LLP boosted its position in shares of Olin by 1,960.7% in the fourth quarter. Marshall Wace LLP now owns 344,962 shares of the specialty chemicals company’s stock valued at $11,660,000 after acquiring an additional 328,222 shares during the period. Institutional investors own 88.67% of the company’s stock.

Olin Trading Down 6.7 %

Shares of Olin stock opened at $20.71 on Friday. The company has a market capitalization of $2.38 billion, a P/E ratio of 23.01 and a beta of 1.56. The stock has a fifty day simple moving average of $22.76 and a 200 day simple moving average of $31.29. Olin has a 12-month low of $17.66 and a 12-month high of $57.10. The company has a current ratio of 1.27, a quick ratio of 0.77 and a debt-to-equity ratio of 1.32.

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

Olin Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, June 13th. Investors of record on Thursday, May 15th will be issued a $0.20 dividend. This represents a $0.80 annualized dividend and a yield of 3.86%. The ex-dividend date is Thursday, May 15th. Olin’s dividend payout ratio (DPR) is presently 156.86%.

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.