Barclays Cuts Olin (NYSE:OLN) Price Target to $45.00

Olin (NYSE:OLN) had its target price decreased by Barclays from $49.00 to $45.00 in a research report sent to investors on Monday, Benzinga reports. Barclays currently has an equal weight rating on the specialty chemicals company’s stock.

A number of other research analysts have also recently commented on the stock. JPMorgan Chase & Co. upgraded shares of Olin from a “neutral” rating to an “overweight” rating and set a $55.00 price target for the company in a research note on Monday, July 29th. The Goldman Sachs Group decreased their price target on Olin from $55.00 to $49.00 and set a “neutral” rating on the stock in a research note on Monday, July 29th. Piper Sandler dropped their price objective on Olin from $75.00 to $57.00 and set an “overweight” rating for the company in a research note on Tuesday, July 30th. BMO Capital Markets began coverage on shares of Olin in a research note on Tuesday, September 3rd. They issued a “market perform” rating and a $50.00 target price on the stock. Finally, Wells Fargo & Company dropped 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 report on Monday, July 29th. Eight research analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Hold” and an average price target of $51.86.

Olin Trading Up 0.6 %

Shares of Olin stock opened at $41.14 on Monday. The company’s fifty day moving average price is $44.72 and its two-hundred day moving average price is $47.88. The firm has a market capitalization of $4.84 billion, a PE ratio of 33.27, a price-to-earnings-growth ratio of 1.01 and a beta of 1.41. Olin has a 52-week low of $39.47 and a 52-week high of $60.60. The company has a debt-to-equity ratio of 1.32, a current ratio of 1.40 and a quick ratio of 0.82.

Olin Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, December 13th. Stockholders of record on Thursday, November 14th will be paid a dividend of $0.20 per share. The ex-dividend date is Thursday, November 14th. This represents a $0.80 annualized dividend and a dividend yield of 1.94%. Olin’s dividend payout ratio (DPR) is currently 64.52%.

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the stock. LRI Investments LLC acquired a new stake in shares of Olin in the 1st quarter valued at $28,000. Farther Finance Advisors LLC boosted its holdings in Olin by 88.2% in the third quarter. Farther Finance Advisors LLC now owns 589 shares of the specialty chemicals company’s stock valued at $28,000 after acquiring an additional 276 shares during the last quarter. EverSource Wealth Advisors LLC increased its position in Olin by 4,375.0% in the first quarter. EverSource Wealth Advisors LLC now owns 537 shares of the specialty chemicals company’s stock worth $32,000 after purchasing an additional 525 shares during the period. nVerses Capital LLC bought a new stake in Olin during the 2nd quarter worth about $33,000. Finally, Denver PWM LLC acquired a new position in Olin during the 2nd quarter valued at about $59,000. 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.