Olin (NYSE:OLN) Price Target Cut to $25.00 by Analysts at Truist Financial

Olin (NYSE:OLN) had its price target reduced by Truist Financial from $32.00 to $25.00 in a report issued on Monday morning,Benzinga reports. Truist Financial currently has a hold rating on the specialty chemicals company’s stock.

A number of other brokerages also recently commented on OLN. Barclays lowered their price target on shares of Olin from $34.00 to $28.00 and set an “equal weight” rating for the company in a report on Tuesday, April 1st. Royal Bank of Canada cut shares of Olin from an “outperform” rating to a “sector perform” rating and lowered their target price for the stock from $45.00 to $30.00 in a research note on Tuesday, February 4th. BMO Capital Markets reduced their price target on Olin from $44.00 to $34.00 and set a “market perform” rating on the stock in a research note on Wednesday, February 5th. Citigroup lowered their price objective on Olin from $34.00 to $30.00 and set a “buy” rating for the company in a research report on Thursday, March 27th. Finally, UBS Group reduced their target price on Olin from $34.00 to $21.00 and set a “neutral” rating on the stock in a research report on Monday, April 7th. One research analyst has rated the stock with a sell rating, eleven have issued a hold rating and four have given a buy rating to the company. According to MarketBeat, the stock currently has an average rating of “Hold” and an average price target of $34.63.

Olin Trading Up 2.2 %

Shares of OLN stock opened at $20.87 on Monday. The stock has a market cap of $2.40 billion, a P/E ratio of 23.19 and a beta of 1.50. The company has a quick ratio of 0.77, a current ratio of 1.27 and a debt-to-equity ratio of 1.32. Olin has a fifty-two week low of $17.66 and a fifty-two week high of $57.10. The business has a fifty day simple moving average of $24.63 and a 200-day simple moving average of $34.01.

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

Olin Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, March 14th. Investors of record on Thursday, March 6th were paid a dividend of $0.20 per share. This represents a $0.80 annualized dividend and a yield of 3.83%. The ex-dividend date of this dividend was Thursday, March 6th. Olin’s dividend payout ratio (DPR) is presently 88.89%.

Insiders Place Their Bets

In related news, CEO Kenneth Todd Lane purchased 7,250 shares of the company’s stock in a transaction dated Tuesday, February 4th. The shares were acquired at an average cost of $28.06 per share, for a total transaction of $203,435.00. Following the transaction, the chief executive officer now owns 7,250 shares of the company’s stock, valued at $203,435. This trade represents a ∞ increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 1.60% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the stock. Covestor Ltd boosted its holdings in shares of Olin by 45.8% during the fourth quarter. Covestor Ltd now owns 1,334 shares of the specialty chemicals company’s stock valued at $45,000 after acquiring an additional 419 shares during the period. Wilmington Savings Fund Society FSB raised its holdings in shares of Olin by 9.4% during the fourth quarter. Wilmington Savings Fund Society FSB now owns 5,833 shares of the specialty chemicals company’s stock valued at $197,000 after buying an additional 500 shares during the last quarter. Connable Office Inc. boosted its position in shares of Olin by 9.3% during the fourth quarter. Connable Office Inc. now owns 6,207 shares of the specialty chemicals company’s stock worth $210,000 after buying an additional 527 shares during the period. First Citizens Bank & Trust Co. increased its position in Olin by 8.5% in the 4th quarter. First Citizens Bank & Trust Co. now owns 6,930 shares of the specialty chemicals company’s stock valued at $234,000 after acquiring an additional 542 shares during the period. Finally, Captrust Financial Advisors raised its stake in Olin by 14.4% during the 3rd quarter. Captrust Financial Advisors now owns 4,998 shares of the specialty chemicals company’s stock valued at $240,000 after acquiring an additional 630 shares in the last quarter. 88.67% of the stock is currently owned by institutional investors.

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.