Olin Co. (NYSE:OLN) Receives Average Recommendation of “Hold” from Analysts

Shares of Olin Co. (NYSE:OLN) have received a consensus recommendation of “Hold” from the fifteen ratings firms that are currently covering the firm, MarketBeat.com reports. One equities research analyst has rated the stock with a sell rating, eight have assigned a hold rating and six have issued a buy rating on the company. The average 12 month price objective among brokerages that have issued ratings on the stock in the last year is $52.73.

A number of brokerages have recently issued reports on OLN. BMO Capital Markets began coverage on Olin in a report on Tuesday, September 3rd. They set a “market perform” rating and a $50.00 price objective for the company. Wells Fargo & Company reduced their price target on Olin from $50.00 to $48.00 and set an “equal weight” rating for the company in a research note on Monday, July 29th. Royal Bank of Canada dropped their target price on Olin from $61.00 to $52.00 and set an “outperform” rating for the company in a report on Monday, July 29th. Mizuho began coverage on shares of Olin in a research report on Thursday, August 8th. They issued a “neutral” rating and a $45.00 target price for the company. Finally, Piper Sandler lowered their price target on shares of Olin from $75.00 to $57.00 and set an “overweight” rating on the stock in a research report on Tuesday, July 30th.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the stock. LRI Investments LLC acquired a new position in Olin during the 1st quarter worth approximately $28,000. EverSource Wealth Advisors LLC increased its holdings 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 worth $32,000 after buying an additional 525 shares in the last quarter. nVerses Capital LLC acquired a new position in shares of Olin during the second quarter worth $33,000. Quarry LP bought a new position in shares of Olin in the 4th quarter valued at $50,000. Finally, Denver PWM LLC acquired a new stake in shares of Olin during the 2nd quarter valued at $59,000. Institutional investors own 88.67% of the company’s stock.

Olin Stock Up 7.0 %

OLN stock opened at $48.52 on Friday. The business’s 50 day simple moving average is $43.56 and its 200 day simple moving average is $49.83. Olin has a 1-year low of $39.47 and a 1-year high of $60.60. The firm has a market capitalization of $5.70 billion, a PE ratio of 17.45, a PEG ratio of 0.97 and a beta of 1.41. The company has a current ratio of 1.43, a quick ratio of 0.82 and a debt-to-equity ratio of 1.29.

Olin (NYSE:OLN) last issued 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). The company had revenue of $1.64 billion during the quarter, compared to the consensus estimate of $1.71 billion. Olin had a net margin of 4.26% and a return on equity of 11.73%. Olin’s revenue for the quarter was down 3.5% compared to the same quarter last year. During the same period in the previous year, the company earned $1.13 earnings per share. As a group, research analysts anticipate that Olin will post 1.61 EPS for the current year.

Olin Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, September 13th. Shareholders of record on Thursday, August 8th were given a $0.20 dividend. This represents a $0.80 dividend on an annualized basis and a yield of 1.65%. The ex-dividend date was Thursday, August 8th. Olin’s dividend payout ratio is presently 28.78%.

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.