Olin Corporation (NYSE:OLN) Receives $23.08 Consensus Target Price from Brokerages

Shares of Olin Corporation (NYSE:OLN) have earned an average rating of “Reduce” from the sixteen ratings firms that are presently covering the firm, Marketbeat.com reports. Four investment analysts have rated the stock with a sell rating, ten have assigned a hold rating, one has given 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 ratings on the stock in the last year is $22.6154.

A number of brokerages have commented on OLN. Wells Fargo & Company reaffirmed an “equal weight” rating and set a $20.00 target price (down from $25.00) on shares of Olin in a report on Monday, August 3rd. Truist Financial dropped their price target on shares of Olin from $24.00 to $20.00 and set a “hold” rating on the stock in a research note on Monday, August 3rd. Bank of America downgraded shares of Olin from a “buy” rating to an “underperform” rating and cut their price objective for the company from $32.00 to $21.00 in a research report on Tuesday, June 30th. Mizuho upped their price objective on Olin from $23.00 to $24.00 and gave the stock a “neutral” rating in a research note on Friday, July 31st. Finally, UBS Group decreased their target price on Olin from $23.00 to $21.00 and set a “neutral” rating on the stock in a report on Monday, August 3rd.

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in OLN. Rockefeller Capital Management L.P. lifted its position in shares of Olin by 115.2% during the 4th quarter. Rockefeller Capital Management L.P. now owns 1,231 shares of the specialty chemicals company’s stock valued at $26,000 after buying an additional 659 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. bought a new position in shares of Olin during the 1st quarter valued at approximately $32,000. Sunbelt Securities Inc. purchased a new stake in Olin in the 1st quarter worth approximately $45,000. NewEdge Advisors LLC increased its holdings in Olin by 45.0% in the 3rd quarter. NewEdge Advisors LLC now owns 2,323 shares of the specialty chemicals company’s stock worth $58,000 after acquiring an additional 721 shares in the last quarter. Finally, UMB Bank n.a. raised its stake 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 acquiring an additional 659 shares during the period. Institutional investors own 88.67% of the company’s stock.

Olin Trading Down 0.9%

Olin stock opened at $17.42 on Friday. Olin has a 52-week low of $17.08 and a 52-week high of $30.46. The company has a market cap of $1.99 billion, a P/E ratio of -14.16 and a beta of 1.22. The company has a quick ratio of 0.87, a current ratio of 1.42 and a debt-to-equity ratio of 1.77. The business has a 50-day simple moving average of $20.49 and a two-hundred day simple moving average of $24.20.

Olin (NYSE:OLN) last issued its quarterly earnings data on Thursday, July 30th. The specialty chemicals company reported ($0.12) earnings per share for the quarter, missing the consensus estimate of $0.13 by ($0.25). The business had revenue of $1.74 billion during the quarter, compared to the consensus estimate of $1.81 billion. Olin had a negative return on equity of 4.76% and a negative net margin of 2.08%.Olin’s revenue for the quarter was down .9% on a year-over-year basis. During the same quarter last year, the company earned ($0.01) EPS. Analysts predict that Olin will post -0.64 EPS for the current year.

Olin Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, September 11th. Shareholders of record on Thursday, August 27th will be issued a dividend of $0.20 per share. This represents a $0.80 annualized dividend and a yield of 4.6%. The ex-dividend date of this dividend is Thursday, August 27th. Olin’s payout ratio is currently -65.04%.

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.