Olin (NYSE:OLN) Given New $69.00 Price Target at Royal Bank of Canada

Olin (NYSE:OLN) had its price objective lifted by Royal Bank of Canada from $64.00 to $69.00 in a research report sent to investors on Friday morning, Benzinga reports. Royal Bank of Canada currently has an outperform rating on the specialty chemicals company’s stock.

A number of other research firms have also issued reports on OLN. The Goldman Sachs Group boosted their target price on Olin from $55.00 to $61.00 and gave the company a neutral rating in a report on Tuesday, January 30th. Stifel Nicolaus boosted their target price on Olin from $65.00 to $66.00 and gave the company a buy rating in a report on Monday, January 29th. Barclays boosted their target price on Olin from $57.00 to $59.00 and gave the company an equal weight rating in a report on Thursday, April 4th. Citigroup boosted their target price on Olin from $63.00 to $67.00 and gave the company a buy rating in a report on Wednesday, April 10th. Finally, UBS Group lifted their price target on Olin from $56.00 to $58.00 and gave the company a neutral rating in a research note on Friday, January 26th. Two analysts have rated the stock with a sell rating, eight have assigned a hold rating and five have given a buy rating to the stock. According to MarketBeat, the company has a consensus rating of Hold and an average target price of $59.33.

Olin Trading Up 0.8 %

OLN opened at $53.58 on Friday. The firm has a market cap of $6.41 billion, a price-to-earnings ratio of 15.14, a price-to-earnings-growth ratio of 0.29 and a beta of 1.44. Olin has a 52 week low of $41.71 and a 52 week high of $60.60. The business’s 50 day moving average is $55.48 and its two-hundred day moving average is $51.43. The company has a quick ratio of 0.73, a current ratio of 1.29 and a debt-to-equity ratio of 1.14.

Olin (NYSE:OLN) last released its quarterly earnings results on Thursday, January 25th. The specialty chemicals company reported $0.30 EPS for the quarter, topping the consensus estimate of $0.20 by $0.10. The company had revenue of $1.61 billion for the quarter, compared to analyst estimates of $1.50 billion. Olin had a return on equity of 18.44% and a net margin of 6.74%. On average, research analysts predict that Olin will post 3.75 EPS for the current year.

Olin Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, March 15th. Stockholders of record on Thursday, March 7th were given a $0.20 dividend. This represents a $0.80 annualized dividend and a dividend yield of 1.49%. The ex-dividend date was Wednesday, March 6th. Olin’s payout ratio is 22.60%.

Insider Transactions at Olin

In other news, CFO Todd A. Slater sold 63,250 shares of the company’s stock in a transaction dated Tuesday, January 30th. The stock was sold at an average price of $54.15, for a total value of $3,424,987.50. Following the completion of the sale, the chief financial officer now owns 137,517 shares of the company’s stock, valued at $7,446,545.55. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. In related news, CFO Todd A. Slater sold 63,250 shares of the stock in a transaction dated Tuesday, January 30th. The stock was sold at an average price of $54.15, for a total value of $3,424,987.50. Following the completion of the transaction, the chief financial officer now owns 137,517 shares of the company’s stock, valued at $7,446,545.55. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Scott Mcdougald Sutton sold 15,000 shares of the stock in a transaction dated Thursday, February 22nd. The shares were sold at an average price of $52.50, for a total value of $787,500.00. Following the completion of the transaction, the chief executive officer now directly owns 75,327 shares of the company’s stock, valued at approximately $3,954,667.50. The disclosure for this sale can be found here. Insiders sold 753,274 shares of company stock valued at $40,434,124 over the last quarter. Company insiders own 1.60% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently bought and sold shares of the business. Baystate Wealth Management LLC lifted its holdings in Olin by 154.6% during the 3rd quarter. Baystate Wealth Management LLC now owns 494 shares of the specialty chemicals company’s stock worth $25,000 after buying an additional 300 shares during the last quarter. Salem Investment Counselors Inc. bought a new position in Olin during the 1st quarter worth approximately $26,000. Sandy Spring Bank lifted its holdings in Olin by 145.6% during the 4th quarter. Sandy Spring Bank now owns 614 shares of the specialty chemicals company’s stock worth $33,000 after buying an additional 364 shares during the last quarter. Covestor Ltd lifted its holdings in Olin by 76.7% during the 3rd quarter. Covestor Ltd now owns 659 shares of the specialty chemicals company’s stock worth $33,000 after buying an additional 286 shares during the last quarter. Finally, Quarry LP lifted its holdings in Olin by 508.6% during the 1st quarter. Quarry LP now owns 706 shares of the specialty chemicals company’s stock worth $39,000 after buying an additional 590 shares during the last quarter. Hedge funds and other institutional investors 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.