Analysts Set Olin Co. (NYSE:OLN) Price Target at $38.38

Olin Co. (NYSE:OLN) has received an average rating of “Hold” from the sixteen brokerages that are covering the company, MarketBeat.com reports. One research analyst has rated the stock with a sell recommendation, eleven have given a hold recommendation and four have assigned a buy recommendation to the company. The average twelve-month price target among brokers that have covered the stock in the last year is $38.38.

Several brokerages recently weighed in on OLN. Citigroup cut their price objective on shares of Olin from $48.00 to $45.00 and set a “buy” rating on the stock in a report on Monday, December 16th. UBS Group set a $28.00 target price on shares of Olin in a report on Thursday, February 27th. JPMorgan Chase & Co. lowered shares of Olin from an “overweight” rating to a “neutral” rating and cut their target price for the stock from $50.00 to $28.00 in a report on Thursday, February 27th. Truist Financial cut their target price on shares of Olin from $38.00 to $32.00 and set a “hold” rating on the stock in a report on Monday, February 3rd. Finally, BMO Capital Markets cut their target price on shares of Olin from $44.00 to $34.00 and set a “market perform” rating on the stock in a report on Wednesday, February 5th.

Olin Price Performance

Shares of Olin stock opened at $24.66 on Friday. The company has a current ratio of 1.27, a quick ratio of 0.77 and a debt-to-equity ratio of 1.32. The stock has a market capitalization of $2.85 billion, a price-to-earnings ratio of 27.40 and a beta of 1.61. Olin has a 1-year low of $22.98 and a 1-year high of $60.60. The firm’s 50-day moving average price is $28.83 and its two-hundred day moving average price is $37.31.

Olin (NYSE:OLN) last announced its earnings results on Thursday, January 30th. The specialty chemicals company reported $0.09 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.01) by $0.10. Olin had a net margin of 1.66% and a return on equity of 5.10%. On average, equities analysts predict that Olin will post 1.38 earnings per share for the current fiscal year.

Olin Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, March 14th. Shareholders of record on Thursday, March 6th were issued a $0.20 dividend. This represents a $0.80 annualized dividend and a yield of 3.24%. The ex-dividend date of this dividend was Thursday, March 6th. Olin’s dividend payout ratio is currently 88.89%.

Olin announced that its Board of Directors has initiated a stock repurchase plan on Thursday, December 12th that authorizes the company to buyback $2.00 billion in outstanding shares. This buyback authorization authorizes the specialty chemicals company to repurchase up to 45% of its shares through open market purchases. Shares buyback plans are generally a sign that the company’s management believes its stock is undervalued.

Insider Activity at Olin

In other Olin news, CEO Kenneth Todd Lane bought 7,250 shares of Olin stock in a transaction on Tuesday, February 4th. The shares were purchased at an average cost of $28.06 per share, with a total value of $203,435.00. Following the acquisition, the chief executive officer now directly owns 7,250 shares of the company’s stock, valued at $203,435. The trade was a ∞ increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 1.60% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Olin

A number of institutional investors have recently added to or reduced their stakes in the business. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its position in shares of Olin by 11.2% in the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 297,425 shares of the specialty chemicals company’s stock worth $10,053,000 after purchasing an additional 29,919 shares during the period. Voloridge Investment Management LLC acquired a new position in shares of Olin in the 4th quarter worth approximately $4,692,000. Two Sigma Advisers LP acquired a new position in shares of Olin in the 4th quarter worth approximately $7,514,000. Two Sigma Investments LP lifted its position in shares of Olin by 890.4% in the 4th quarter. Two Sigma Investments LP now owns 451,020 shares of the specialty chemicals company’s stock worth $15,244,000 after purchasing an additional 405,480 shares during the period. Finally, Tidal Investments LLC acquired a new position in shares of Olin in the 4th quarter worth approximately $331,000. 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.