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

Shares of Olin Corporation (NYSE:OLN) have received an average recommendation of “Hold” from the sixteen ratings firms that are presently covering the company, Marketbeat reports. Four investment analysts have rated the stock with a sell rating, nine have issued a hold rating, two have issued a buy rating and one has issued a strong buy rating on the company. The average 1-year target price among brokers that have issued a report on the stock in the last year is $27.0769.

Several research firms have commented on OLN. JPMorgan Chase & Co. dropped their target price on Olin from $26.00 to $25.00 and set a “neutral” rating for the company in a research report on Thursday, June 18th. Wells Fargo & Company reiterated an “overweight” rating and issued a $37.00 price objective on shares of Olin in a report on Sunday, May 10th. Mizuho reduced their target price on shares of Olin from $26.00 to $23.00 and set a “neutral” rating on the stock in a report on Wednesday. Zacks Research upgraded shares of Olin from a “strong sell” rating to a “hold” rating in a research report on Monday, April 13th. Finally, UBS Group raised their price target on shares of Olin from $29.00 to $31.00 and gave the company a “neutral” rating in a research note on Wednesday, May 13th.

Olin Trading Down 1.4%

Shares of OLN stock opened at $19.55 on Thursday. The firm has a market capitalization of $2.23 billion, a P/E ratio of -17.45 and a beta of 1.21. Olin has a twelve month low of $18.08 and a twelve month high of $30.46. The company has a quick ratio of 0.82, a current ratio of 1.36 and a debt-to-equity ratio of 1.73. The stock’s fifty day simple moving average is $25.21 and its 200 day simple moving average is $24.72.

Olin Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, June 12th. Investors of record on Thursday, May 14th were given a dividend of $0.20 per share. This represents a $0.80 annualized dividend and a yield of 4.1%. The ex-dividend date of this dividend was Thursday, May 14th. Olin’s dividend payout ratio (DPR) is currently -71.43%.

Institutional Investors Weigh In On Olin

A number of institutional investors have recently made changes to their positions in OLN. Values First Advisors Inc. increased its stake in shares of Olin by 3.4% in the first quarter. Values First Advisors Inc. now owns 12,909 shares of the specialty chemicals company’s stock valued at $384,000 after buying an additional 425 shares during the period. Covestor Ltd raised its position in shares of Olin by 10.6% during the fourth quarter. Covestor Ltd now owns 5,189 shares of the specialty chemicals company’s stock worth $108,000 after acquiring an additional 497 shares during the last quarter. Oregon Public Employees Retirement Fund lifted its stake in shares of Olin by 2.2% in the first quarter. Oregon Public Employees Retirement Fund now owns 23,302 shares of the specialty chemicals company’s stock worth $693,000 after acquiring an additional 500 shares during the period. Madison Asset Management LLC lifted its stake in shares of Olin by 0.6% in the fourth quarter. Madison Asset Management LLC now owns 97,616 shares of the specialty chemicals company’s stock worth $2,033,000 after acquiring an additional 555 shares during the period. Finally, First Citizens Bank & Trust Co. boosted its holdings in Olin by 2.0% in the first quarter. First Citizens Bank & Trust Co. now owns 31,230 shares of the specialty chemicals company’s stock valued at $928,000 after acquiring an additional 609 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.