Olin (NYSE:OLN) Price Target Lowered to $25.00 at BMO Capital Markets

Olin (NYSE:OLN) had its target price decreased by BMO Capital Markets from $30.00 to $25.00 in a report released on Monday,Benzinga reports. BMO Capital Markets currently has a market perform rating on the specialty chemicals company’s stock.

OLN has been the subject of several other reports. Royal Bank Of Canada set a $30.00 price objective on shares of Olin and gave the stock a “sector perform” rating in a report on Friday, April 10th. Zacks Research raised shares of Olin from a “strong sell” rating to a “hold” rating in a research report on Monday, April 13th. Bank of America lowered Olin from a “buy” rating to an “underperform” rating and lowered their price objective for the company from $32.00 to $21.00 in a report on Tuesday, June 30th. Truist Financial lifted their target price on Olin from $20.00 to $26.00 and gave the stock a “hold” rating in a research report on Monday, May 11th. Finally, The Goldman Sachs Group boosted their price target on Olin from $22.00 to $31.00 and gave the company a “neutral” rating in a report on Tuesday, May 12th. One research analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating, nine have issued a Hold rating and four have assigned a Sell rating to the company’s stock. According to MarketBeat.com, Olin has a consensus rating of “Hold” and a consensus target price of $27.15.

Olin Stock Performance

Shares of OLN opened at $20.11 on Monday. The firm has a market cap of $2.29 billion, a price-to-earnings ratio of -17.96 and a beta of 1.21. 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 business’s 50 day moving average is $24.80 and its two-hundred day moving average is $24.69. Olin has a 52-week low of $18.08 and a 52-week high of $30.46.

Olin Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, June 12th. Shareholders of record on Thursday, May 14th were paid a $0.20 dividend. This represents a $0.80 dividend on an annualized basis and a yield of 4.0%. The ex-dividend date was Thursday, May 14th. Olin’s dividend payout ratio (DPR) is presently -71.43%.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently modified their holdings of the business. Strategic Advocates LLC acquired a new stake in shares of Olin in the 3rd quarter worth approximately $25,000. Rockefeller Capital Management L.P. lifted its position in Olin by 115.2% in 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. bought a new position in Olin during the 1st quarter valued at $32,000. Sunbelt Securities Inc. acquired a new position in shares of Olin during the 1st quarter valued at $45,000. Finally, Allworth Financial LP raised its stake in shares of Olin by 114.0% in the 3rd quarter. Allworth Financial LP now owns 1,740 shares of the specialty chemicals company’s stock worth $43,000 after buying an additional 927 shares in the last quarter. Institutional investors own 88.67% of the company’s stock.

About Olin

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.