Olin Co. (NYSE:OLN) Given Consensus Rating of “Hold” by Analysts

Shares of Olin Co. (NYSE:OLN) have been assigned a consensus recommendation of “Hold” from the sixteen research firms that are currently covering the company, Marketbeat.com reports. One equities research analyst has rated the stock with a sell recommendation, eleven have given a hold recommendation and four have issued a buy recommendation on the company. The average 12 month target price among brokerages that have updated their coverage on the stock in the last year is $35.81.

A number of brokerages have recently weighed in on OLN. KeyCorp lowered their price target on Olin from $50.00 to $40.00 and set an “overweight” rating for the company in a report on Monday, February 3rd. Royal Bank of Canada lowered shares of Olin from an “outperform” rating to a “sector perform” rating and lowered their target price for the company from $45.00 to $30.00 in a research note on Tuesday, February 4th. Wells Fargo & Company reduced their price target on shares of Olin from $31.00 to $25.00 and set an “equal weight” rating on the stock in a research report on Tuesday, April 1st. JPMorgan Chase & Co. lowered shares of Olin from an “overweight” rating to a “neutral” rating and decreased their price target for the company from $50.00 to $28.00 in a report on Thursday, February 27th. Finally, Piper Sandler dropped their price objective on shares of Olin from $33.00 to $26.00 and set a “neutral” rating on the stock in a research note on Monday.

Olin Stock Performance

NYSE:OLN opened at $19.17 on Tuesday. Olin has a 1-year low of $18.33 and a 1-year high of $59.31. The firm has a 50-day moving average of $25.99 and a two-hundred day moving average of $35.21. The company has a debt-to-equity ratio of 1.32, a current ratio of 1.27 and a quick ratio of 0.77. The stock has a market cap of $2.21 billion, a P/E ratio of 21.30 and a beta of 1.50.

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

Olin Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, March 14th. Investors of record on Thursday, March 6th were issued a $0.20 dividend. This represents a $0.80 dividend on an annualized basis and a yield of 4.17%. The ex-dividend date of this dividend was Thursday, March 6th. Olin’s dividend payout ratio (DPR) is 88.89%.

Olin announced that its board has approved a stock repurchase plan on Thursday, December 12th that allows the company to repurchase $2.00 billion in outstanding shares. This repurchase authorization allows the specialty chemicals company to repurchase up to 45% of its stock through open market purchases. Stock repurchase plans are often an indication that the company’s board of directors believes its shares are undervalued.

Insider Buying and Selling at Olin

In other Olin news, CEO Kenneth Todd Lane purchased 7,250 shares of the stock in a transaction dated Tuesday, February 4th. The shares were bought at an average cost of $28.06 per share, with a total value of $203,435.00. Following the completion of the acquisition, the chief executive officer now owns 7,250 shares of the company’s stock, valued at approximately $203,435. This trade represents a ∞ increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. 1.60% of the stock is owned by company insiders.

Institutional Investors Weigh In On Olin

Several institutional investors have recently bought and sold shares of OLN. Captrust Financial Advisors raised its position in shares of Olin by 14.4% during the 3rd quarter. Captrust Financial Advisors now owns 4,998 shares of the specialty chemicals company’s stock worth $240,000 after buying an additional 630 shares in the last quarter. National Bank of Canada FI increased its stake in shares of Olin by 8,678.3% during the third quarter. National Bank of Canada FI now owns 62,677 shares of the specialty chemicals company’s stock valued at $3,007,000 after acquiring an additional 61,963 shares during the period. Barclays PLC raised its holdings in Olin by 37.7% during the third quarter. Barclays PLC now owns 125,913 shares of the specialty chemicals company’s stock worth $6,042,000 after purchasing an additional 34,485 shares in the last quarter. First Sabrepoint Capital Management LP acquired a new stake in Olin in the third quarter worth approximately $5,278,000. Finally, Wilmington Savings Fund Society FSB acquired a new stake in Olin in the third quarter worth approximately $256,000. Institutional investors and hedge funds own 88.67% of the company’s stock.

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.