Olin (NYSE:OLN) Price Target Lowered to $56.00 at KeyCorp

Olin (NYSE:OLN) had its price target trimmed by KeyCorp from $57.00 to $56.00 in a research note issued to investors on Monday, Benzinga reports. They currently have an overweight rating on the specialty chemicals company’s stock.

Several other research firms have also issued reports on OLN. Deutsche Bank Aktiengesellschaft cut their price target on shares of Olin from $57.00 to $48.00 and set a “hold” rating for the company in a research report on Monday, July 29th. BMO Capital Markets assumed coverage on shares of Olin in a research report on Tuesday, September 3rd. They set a “market perform” rating and a $50.00 price target for the company. Royal Bank of Canada cut their price target on shares of Olin from $61.00 to $52.00 and set an “outperform” rating for the company in a research report on Monday, July 29th. Wells Fargo & Company cut their price target 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. Finally, UBS Group cut 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. Eight investment analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average target price of $51.86.

Olin Stock Down 0.2 %

Shares of NYSE:OLN opened at $41.03 on Monday. Olin has a 52-week low of $39.47 and a 52-week high of $60.60. The firm has a fifty day moving average of $44.67 and a 200 day moving average of $47.83. The firm has a market capitalization of $4.82 billion, a PE ratio of 33.18, a price-to-earnings-growth 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 Dividend Announcement

The company also recently announced 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 is Thursday, November 14th. This represents a $0.80 dividend on an annualized basis and a dividend yield of 1.95%. Olin’s dividend payout ratio is currently 64.52%.

Hedge Funds Weigh In On Olin

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