Olin Corporation (NYSE:OLN) Receives $25.00 Average PT from Brokerages

Olin Corporation (NYSE:OLN) has been given a consensus recommendation of “Hold” by the sixteen analysts that are currently covering the firm, MarketBeat Ratings reports. Two equities research analysts have rated the stock with a sell rating, eleven have assigned a hold rating, two have given a buy rating and one has assigned a strong buy rating to the company. The average 12 month price target among analysts that have covered the stock in the last year is $25.00.

Several research firms recently issued reports on OLN. Royal Bank Of Canada set a $26.00 price objective on Olin and gave the company a “sector perform” rating in a research report on Tuesday, October 14th. Citigroup reaffirmed a “neutral” rating on shares of Olin in a report on Wednesday, October 29th. Truist Financial reduced their price objective on Olin from $22.00 to $21.00 and set a “hold” rating for the company in a report on Tuesday, October 28th. Mizuho set a $26.00 target price on Olin in a research report on Friday, October 3rd. Finally, Weiss Ratings reaffirmed a “sell (d+)” rating on shares of Olin in a report on Wednesday, October 8th.

Olin Stock Performance

Shares of Olin stock opened at $20.42 on Friday. Olin has a 1 year low of $17.66 and a 1 year high of $35.83. The firm’s 50-day moving average is $21.36 and its 200 day moving average is $21.74. The stock has a market cap of $2.33 billion, a price-to-earnings ratio of 44.39, a PEG ratio of 7.07 and a beta of 1.66. The company has a debt-to-equity ratio of 1.49, a current ratio of 1.56 and a quick ratio of 0.89.

Olin (NYSE:OLN) last issued its earnings results on Monday, October 27th. The specialty chemicals company reported $0.40 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.09 by $0.31. Olin had a net margin of 0.79% and a return on equity of 3.36%. The business had revenue of $1.71 billion during the quarter, compared to analysts’ expectations of $1.74 billion. During the same period in the previous year, the company earned ($0.21) earnings per share. The business’s revenue for the quarter was up 7.8% compared to the same quarter last year. Sell-side analysts anticipate that Olin will post 1.38 EPS for the current fiscal year.

Olin Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, December 12th. Investors of record on Friday, November 28th were issued a $0.20 dividend. The ex-dividend date was Friday, November 28th. This represents a $0.80 annualized dividend and a yield of 3.9%. Olin’s dividend payout ratio (DPR) is currently 173.91%.

Insider Buying and Selling

In other Olin news, VP Teresa M. Vermillion sold 4,500 shares of the business’s stock in a transaction on Wednesday, November 26th. The shares were sold at an average price of $20.86, for a total transaction of $93,870.00. Following the completion of the sale, the vice president directly owned 17,199 shares in the company, valued at approximately $358,771.14. The trade was a 20.74% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Company insiders own 1.70% of the company’s stock.

Institutional Trading of Olin

Large investors have recently modified their holdings of the company. Ilex Capital Partners UK LLP purchased a new stake in Olin during the second quarter valued at $50,476,000. Millennium Management LLC increased its position 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 last quarter. Fuller & Thaler Asset Management Inc. lifted its stake in shares of Olin by 40.5% in the 1st quarter. Fuller & Thaler Asset Management Inc. now owns 6,384,744 shares of the specialty chemicals company’s stock worth $154,766,000 after purchasing an additional 1,840,900 shares during the period. Norges Bank bought a new position in shares of Olin in the 2nd quarter worth approximately $27,843,000. Finally, Hotchkis & Wiley Capital Management LLC boosted its holdings in shares of Olin by 11.5% in the first quarter. Hotchkis & Wiley Capital Management LLC now owns 12,191,163 shares of the specialty chemicals company’s stock worth $295,514,000 after buying an additional 1,259,795 shares during the last quarter. Institutional investors own 88.67% of the company’s stock.

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.