Analysts Set Olin Co. (NYSE:OLN) Target Price at $53.27

Shares of Olin Co. (NYSE:OLN) have been given a consensus rating of “Hold” by the fifteen ratings firms that are currently covering the stock, MarketBeat.com reports. One research analyst has rated the stock with a sell recommendation, eight have issued a hold recommendation and six have given a buy recommendation to the company. The average 12 month price target among brokers that have issued a report on the stock in the last year is $53.27.

OLN has been the subject of several research reports. Piper Sandler decreased their price target on shares of Olin from $75.00 to $57.00 and set an “overweight” rating for the company in a research note on Tuesday, July 30th. Mizuho assumed coverage on shares of Olin in a research note on Thursday, August 8th. They issued a “neutral” rating and a $45.00 price target on the stock. UBS Group reduced their price objective on shares of Olin from $59.00 to $51.00 and set a “neutral” rating for the company in a research note on Tuesday, July 9th. JPMorgan Chase & Co. raised Olin from a “neutral” rating to an “overweight” rating and set a $55.00 target price on the stock in a research report on Monday, July 29th. Finally, KeyCorp dropped their target price on Olin from $69.00 to $62.00 and set an “overweight” rating on the stock in a report on Monday, July 29th.

Olin Stock Performance

Shares of OLN opened at $43.19 on Monday. The firm has a market cap of $5.16 billion, a P/E ratio of 15.54, a PEG ratio of 0.92 and a beta of 1.44. Olin has a twelve month low of $40.26 and a twelve month high of $60.60. The company has a debt-to-equity ratio of 1.29, a quick ratio of 0.82 and a current ratio of 1.43. The firm’s 50 day moving average price is $45.39 and its two-hundred day moving average price is $51.27.

Olin (NYSE:OLN) last posted its quarterly earnings data on Thursday, July 25th. The specialty chemicals company reported $0.62 earnings per share for the quarter, missing the consensus estimate of $0.70 by ($0.08). Olin had a return on equity of 11.73% and a net margin of 4.26%. The firm had revenue of $1.64 billion for the quarter, compared to analyst estimates of $1.71 billion. During the same period in the prior year, the company earned $1.13 earnings per share. The firm’s quarterly revenue was down 3.5% on a year-over-year basis. On average, analysts forecast that Olin will post 1.61 EPS for the current fiscal year.

Olin Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, September 13th. Shareholders of record on Thursday, August 8th will be given a dividend of $0.20 per share. The ex-dividend date of this dividend is Thursday, August 8th. This represents a $0.80 dividend on an annualized basis and a yield of 1.85%. Olin’s dividend payout ratio (DPR) is 28.78%.

Hedge Funds Weigh In On Olin

Large investors have recently modified their holdings of the stock. Fifth Third Bancorp grew its stake in Olin by 30.0% in the 1st quarter. Fifth Third Bancorp now owns 858 shares of the specialty chemicals company’s stock valued at $50,000 after buying an additional 198 shares during the last quarter. Louisiana State Employees Retirement System grew its position in shares of Olin by 0.6% in the first quarter. Louisiana State Employees Retirement System now owns 34,600 shares of the specialty chemicals company’s stock valued at $2,034,000 after purchasing an additional 200 shares during the last quarter. OLD National Bancorp IN increased its stake in shares of Olin by 4.2% during the second quarter. OLD National Bancorp IN now owns 6,343 shares of the specialty chemicals company’s stock worth $299,000 after purchasing an additional 253 shares during the period. Financial Advocates Investment Management lifted its holdings in Olin by 5.5% during the 4th quarter. Financial Advocates Investment Management now owns 5,086 shares of the specialty chemicals company’s stock worth $274,000 after purchasing an additional 266 shares during the last quarter. Finally, Scott & Selber Inc. boosted its stake in Olin by 1.7% in the 2nd quarter. Scott & Selber Inc. now owns 19,206 shares of the specialty chemicals company’s stock valued at $906,000 after purchasing an additional 326 shares during the period. 88.67% of the stock is owned by institutional investors.

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.