BMO Capital Markets Lowers Olin (NYSE:OLN) Price Target to $47.00

Olin (NYSE:OLN) had its target price reduced by BMO Capital Markets from $50.00 to $47.00 in a research report sent to investors on Tuesday, Benzinga reports. They currently have a market perform rating on the specialty chemicals company’s stock.

OLN has been the topic of several other research reports. Barclays lowered their target price on shares of Olin from $49.00 to $45.00 and set an “equal weight” rating on the stock in a research note on Monday. 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 report on Monday, July 29th. Deutsche Bank Aktiengesellschaft cut their target price on Olin from $57.00 to $48.00 and set a “hold” rating for the company in a research report on Monday, July 29th. The Goldman Sachs Group lowered their price target on Olin from $55.00 to $49.00 and set a “neutral” rating on the stock in a research report on Monday, July 29th. Finally, KeyCorp cut their price objective on Olin from $57.00 to $56.00 and set an “overweight” rating for the company in a report on Monday. One equities research analyst has rated the stock with a sell rating, eight have issued a hold rating and six have issued a buy rating to the company. According to MarketBeat, Olin presently has a consensus rating of “Hold” and an average target price of $51.33.

Olin Trading Down 2.0 %

NYSE:OLN opened at $40.88 on Tuesday. The stock has a market cap of $4.81 billion, a price-to-earnings ratio of 32.97, a PEG ratio of 1.01 and a beta of 1.41. The company has a debt-to-equity ratio of 1.32, a quick ratio of 0.82 and a current ratio of 1.40. Olin has a 1 year low of $39.47 and a 1 year high of $60.60. The business has a fifty day moving average of $44.76 and a 200-day moving average of $47.97.

Olin Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, December 13th. Stockholders of record on Thursday, November 14th will be issued a dividend of $0.20 per share. The ex-dividend date of this dividend is Thursday, November 14th. This represents a $0.80 dividend on an annualized basis and a dividend yield of 1.96%. Olin’s dividend payout ratio is 64.52%.

Hedge Funds Weigh In On Olin

Institutional investors and hedge funds have recently bought and sold shares of the business. LRI Investments LLC acquired a new stake in shares of Olin during the first quarter worth approximately $28,000. EverSource Wealth Advisors LLC lifted its position in Olin by 4,375.0% in the 1st quarter. EverSource Wealth Advisors LLC now owns 537 shares of the specialty chemicals company’s stock worth $32,000 after buying an additional 525 shares in the last quarter. Farther Finance Advisors LLC boosted its stake in shares of Olin by 88.2% during the 3rd quarter. Farther Finance Advisors LLC now owns 589 shares of the specialty chemicals company’s stock valued at $28,000 after buying an additional 276 shares during the period. nVerses Capital LLC purchased a new position in shares of Olin during the 2nd quarter valued at $33,000. Finally, Headlands Technologies LLC acquired a new position in shares of Olin in the first quarter worth $69,000. Hedge funds and other institutional investors own 88.67% of the company’s stock.

Olin Company Profile

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.