Olin Co. (NYSE:OLN) Receives $51.86 Average Price Target from Analysts

Olin Co. (NYSE:OLN) has earned an average rating of “Hold” from the fourteen brokerages that are currently covering the company, Marketbeat reports. Eight investment analysts have rated the stock with a hold rating and six have given a buy rating to the company. The average 12-month target price among brokers that have issued a report on the stock in the last year is $51.86.

A number of equities research analysts have recently issued reports on OLN shares. Royal Bank of Canada reduced their price target on shares of Olin from $52.00 to $48.00 and set an “outperform” rating for the company in a research report on Tuesday, October 29th. Barclays reduced their price target on shares of Olin from $49.00 to $45.00 and set an “equal weight” rating for the company in a research report on Monday, October 28th. BMO Capital Markets reduced their price target on shares of Olin from $50.00 to $47.00 and set a “market perform” rating for the company in a research report on Tuesday, October 29th. Piper Sandler reduced their price target on shares of Olin from $57.00 to $51.00 and set an “overweight” rating for the company in a research report on Wednesday, October 30th. Finally, KeyCorp reduced their price target on shares of Olin from $57.00 to $56.00 and set an “overweight” rating for the company in a research report on Monday, October 28th.

Olin Price Performance

Shares of NYSE:OLN opened at $41.27 on Wednesday. The company has a quick ratio of 0.82, a current ratio of 1.40 and a debt-to-equity ratio of 1.32. The company has a market cap of $4.81 billion, a P/E ratio of 33.28, a PEG ratio of 1.72 and a beta of 1.43. Olin has a 52 week low of $39.47 and a 52 week high of $60.60. The company has a 50-day moving average price of $43.94 and a 200 day moving average price of $45.60.

Olin Announces Dividend

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

Insider Buying and Selling at Olin

In other Olin news, VP R Nichole Sumner sold 10,500 shares of the business’s stock in a transaction on Friday, November 8th. The stock was sold at an average price of $43.75, for a total value of $459,375.00. Following the completion of the transaction, the vice president now directly owns 24,056 shares in the company, valued at approximately $1,052,450. The trade was a 30.39 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. 1.60% of the stock is currently owned by insiders.

Institutional Trading of Olin

A number of institutional investors and hedge funds have recently made changes to their positions in the company. Hotchkis & Wiley Capital Management LLC increased its holdings in shares of Olin by 6.4% during the 3rd quarter. Hotchkis & Wiley Capital Management LLC now owns 8,838,988 shares of the specialty chemicals company’s stock worth $424,095,000 after buying an additional 531,330 shares during the last quarter. Dimensional Fund Advisors LP increased its holdings in shares of Olin by 5.5% during the 2nd quarter. Dimensional Fund Advisors LP now owns 3,741,007 shares of the specialty chemicals company’s stock worth $176,396,000 after buying an additional 194,755 shares during the last quarter. Pzena Investment Management LLC increased its holdings in shares of Olin by 24.8% during the 3rd quarter. Pzena Investment Management LLC now owns 3,452,708 shares of the specialty chemicals company’s stock worth $165,661,000 after buying an additional 685,710 shares during the last quarter. Bank of New York Mellon Corp increased its holdings in shares of Olin by 2.5% during the 2nd quarter. Bank of New York Mellon Corp now owns 1,373,519 shares of the specialty chemicals company’s stock worth $64,761,000 after buying an additional 33,143 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. increased its holdings in shares of Olin by 2.9% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 1,295,699 shares of the specialty chemicals company’s stock worth $62,168,000 after buying an additional 37,043 shares during the last quarter. 88.67% of the stock is currently owned by institutional investors and hedge funds.

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.