Olin Co. (NYSE:OLN) Receives $60.00 Consensus Target Price from Brokerages

Olin Co. (NYSE:OLN) has been given an average recommendation of “Hold” by the fifteen brokerages that are covering the firm, Marketbeat.com reports. Two equities research analysts have rated the stock with a sell rating, seven have issued a hold rating and six have given a buy rating to the company. The average 1-year price target among brokerages that have updated their coverage on the stock in the last year is $59.27.

A number of equities research analysts recently commented on the company. Wells Fargo & Company lifted their target price on Olin from $56.00 to $60.00 and gave the stock an “equal weight” rating in a report on Wednesday, April 3rd. Stifel Nicolaus boosted their price target on Olin from $68.00 to $69.00 and gave the company a “buy” rating in a report on Monday, April 29th. Barclays boosted their price target on Olin from $57.00 to $59.00 and gave the company an “equal weight” rating in a report on Thursday, April 4th. Citigroup upped their target price on Olin from $63.00 to $67.00 and gave the stock a “buy” rating in a research note on Wednesday, April 10th. Finally, Royal Bank of Canada reduced their target price on Olin from $69.00 to $63.00 and set an “outperform” rating for the company in a research note on Monday, April 29th.

Institutional Investors Weigh In On Olin

Hedge funds have recently bought and sold shares of the stock. LRI Investments LLC acquired a new stake in Olin in the 1st quarter valued at about $28,000. EverSource Wealth Advisors LLC increased its holdings in shares of Olin by 4,375.0% in the 1st quarter. EverSource Wealth Advisors LLC now owns 537 shares of the specialty chemicals company’s stock valued at $32,000 after acquiring an additional 525 shares during the last quarter. Sandy Spring Bank increased its holdings in shares of Olin by 145.6% in the 4th quarter. Sandy Spring Bank now owns 614 shares of the specialty chemicals company’s stock valued at $33,000 after acquiring an additional 364 shares during the last quarter. Fifth Third Bancorp increased its holdings in shares of Olin by 30.0% in the 1st quarter. Fifth Third Bancorp now owns 858 shares of the specialty chemicals company’s stock valued at $50,000 after acquiring an additional 198 shares during the last quarter. Finally, Quarry LP purchased a new position in shares of Olin in the 4th quarter valued at about $50,000. Institutional investors and hedge funds own 88.67% of the company’s stock.

Olin Price Performance

OLN opened at $48.16 on Friday. The business’s 50-day moving average is $51.19 and its two-hundred day moving average is $53.10. Olin has a 1 year low of $41.71 and a 1 year high of $60.60. The company has a debt-to-equity ratio of 1.22, a current ratio of 1.38 and a quick ratio of 0.80. The firm has a market capitalization of $5.75 billion, a PE ratio of 17.32, a price-to-earnings-growth ratio of 0.28 and a beta of 1.44.

Olin (NYSE:OLN) last issued its quarterly earnings results on Friday, April 26th. The specialty chemicals company reported $0.40 earnings per share for the quarter, topping analysts’ consensus estimates of $0.38 by $0.02. Olin had a return on equity of 14.47% and a net margin of 5.32%. The business had revenue of $1.64 billion for the quarter, compared to analyst estimates of $1.65 billion. During the same quarter in the previous year, the firm earned $1.16 earnings per share. The company’s revenue was down 11.3% on a year-over-year basis. Research analysts anticipate that Olin will post 3.66 earnings per share for the current fiscal year.

Olin Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, June 14th. Investors of record on Thursday, May 9th were paid a dividend of $0.20 per share. This represents a $0.80 annualized dividend and a yield of 1.66%. The ex-dividend date of this dividend was Wednesday, May 8th. Olin’s payout ratio is 28.78%.

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.