Olin (NYSE:OLN) Coverage Initiated by Analysts at BMO Capital Markets

BMO Capital Markets began coverage on shares of Olin (NYSE:OLN) in a report issued on Tuesday, Marketbeat reports. The firm issued a market perform rating and a $50.00 price target on the specialty chemicals company’s stock.

Several other equities research analysts have also recently issued reports on the company. Piper Sandler cut their target price on Olin from $75.00 to $57.00 and set an overweight rating for the company in a research note on Tuesday, July 30th. UBS Group dropped their price target on shares of Olin from $59.00 to $51.00 and set a neutral rating for the company in a research report 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 note on Monday, July 29th. Royal Bank of Canada cut their price objective on Olin from $61.00 to $52.00 and set an outperform rating on the stock in a research report on Monday, July 29th. Finally, Wells Fargo & Company lowered their target price on shares of Olin from $50.00 to $48.00 and set an equal weight rating for the company in a research note on Monday, July 29th. One equities research analyst has rated the stock with a sell rating, ten have assigned a hold rating and six have assigned a buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of Hold and an average price target of $53.06.

Olin Trading Down 3.5 %

Shares of NYSE:OLN opened at $42.15 on Tuesday. The firm has a market capitalization of $4.95 billion, a price-to-earnings ratio of 15.16, a price-to-earnings-growth ratio of 0.95 and a beta of 1.44. The business’s 50 day moving average price is $44.94 and its 200-day moving average price is $51.02. The company has a debt-to-equity ratio of 1.29, a current ratio of 1.43 and a quick ratio of 0.82. Olin has a 1 year low of $40.26 and a 1 year high of $60.60.

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

Olin Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, September 13th. Shareholders of record on Thursday, August 8th will be paid a $0.20 dividend. The ex-dividend date is Thursday, August 8th. This represents a $0.80 annualized dividend and a yield of 1.90%. Olin’s dividend payout ratio is currently 28.78%.

Hedge Funds Weigh In On Olin

Several institutional investors have recently bought and sold shares of OLN. Hotchkis & Wiley Capital Management LLC boosted its position in shares of Olin by 3.2% during the 4th quarter. Hotchkis & Wiley Capital Management LLC now owns 6,602,331 shares of the specialty chemicals company’s stock worth $356,196,000 after purchasing an additional 203,260 shares in the last quarter. Boston Partners boosted its position in shares of Olin by 7.7% during the 1st quarter. Boston Partners now owns 5,414,265 shares of the specialty chemicals company’s stock worth $317,897,000 after purchasing an additional 384,888 shares in the last quarter. Dimensional Fund Advisors LP boosted its position in shares of Olin by 5.5% during the 2nd quarter. Dimensional Fund Advisors LP now owns 3,741,007 shares of the specialty chemicals company’s stock worth $176,396,000 after purchasing an additional 194,755 shares in the last quarter. Balyasny Asset Management L.P. boosted its position in shares of Olin by 218.6% during the 4th quarter. Balyasny Asset Management L.P. now owns 1,649,273 shares of the specialty chemicals company’s stock worth $88,978,000 after purchasing an additional 1,131,674 shares in the last quarter. Finally, Norges Bank acquired a new position in Olin during the fourth quarter worth about $76,125,000. 88.67% of the stock is owned by institutional investors and hedge funds.

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.