Brokerages Set Olin Co. (NYSE:OLN) PT at $52.40

Olin Co. (NYSE:OLN) has been given a consensus recommendation of “Hold” by the fifteen ratings firms that are currently covering the firm, Marketbeat.com reports. One research analyst has rated the stock with a sell rating, eight have assigned a hold rating and six have given a buy rating to the company. The average twelve-month price target among brokerages that have covered the stock in the last year is $52.40.

Several research firms have commented on OLN. Royal Bank of Canada cut their target price on Olin from $61.00 to $52.00 and set an “outperform” rating on the stock in a research note on Monday, July 29th. Barclays cut their price objective on shares of Olin from $59.00 to $49.00 and set an “equal weight” rating on the stock in a research report on Monday, July 29th. JPMorgan Chase & Co. raised shares of Olin from a “neutral” rating to an “overweight” rating and set a $55.00 target price for the company in a research report on Monday, July 29th. The Goldman Sachs Group cut their price target on shares of Olin from $55.00 to $49.00 and set a “neutral” rating on the stock in a research report on Monday, July 29th. Finally, Bank of America downgraded shares of Olin from a “buy” rating to a “neutral” rating and reduced their price objective for the stock from $62.00 to $51.00 in a research note on Monday, July 29th.

Olin Stock Down 0.9 %

Shares of OLN stock opened at $47.00 on Tuesday. Olin has a 12-month low of $39.47 and a 12-month high of $60.60. The company has a quick ratio of 0.82, a current ratio of 1.43 and a debt-to-equity ratio of 1.29. The firm has a fifty day moving average of $44.46 and a 200-day moving average of $48.63. The company has a market capitalization of $5.52 billion, a price-to-earnings ratio of 20.70, a P/E/G ratio of 1.03 and a beta of 1.41.

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

Olin Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, September 13th. Investors of record on Thursday, August 8th were paid a $0.20 dividend. This represents a $0.80 dividend on an annualized basis and a yield of 1.70%. The ex-dividend date of this dividend was Thursday, August 8th. Olin’s dividend payout ratio (DPR) is presently 35.24%.

Hedge Funds Weigh In On Olin

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in OLN. Allspring Global Investments Holdings LLC lifted its position in Olin by 2.4% during the third quarter. Allspring Global Investments Holdings LLC now owns 1,061,001 shares of the specialty chemicals company’s stock worth $50,907,000 after acquiring an additional 25,163 shares during the last quarter. Raymond James & Associates increased its stake in shares of Olin by 10.7% during the third quarter. Raymond James & Associates now owns 192,826 shares of the specialty chemicals company’s stock worth $9,252,000 after purchasing an additional 18,606 shares during the period. First Citizens Bank & Trust Co. lifted its holdings in Olin by 14.1% during the 3rd quarter. First Citizens Bank & Trust Co. now owns 6,388 shares of the specialty chemicals company’s stock worth $306,000 after purchasing an additional 789 shares during the last quarter. Blue Trust Inc. boosted its stake in Olin by 63.9% in the 3rd quarter. Blue Trust Inc. now owns 2,149 shares of the specialty chemicals company’s stock valued at $101,000 after purchasing an additional 838 shares during the period. Finally, Wedge Capital Management L L P NC grew its holdings in Olin by 36.6% in the 3rd quarter. Wedge Capital Management L L P NC now owns 50,613 shares of the specialty chemicals company’s stock valued at $2,428,000 after buying an additional 13,557 shares in the last quarter. 88.67% of the stock is owned by institutional investors.

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.