Olin Corporation (NYSE:OLN) Receives $27.77 Average PT from Analysts

Shares of Olin Corporation (NYSE:OLN) have been given a consensus recommendation of “Hold” by the seventeen ratings firms that are currently covering the stock, MarketBeat Ratings reports. Two equities research analysts have rated the stock with a sell recommendation, eleven have assigned a hold recommendation, three have issued a buy recommendation and one has assigned a strong buy recommendation to the company. The average 12 month price target among analysts that have issued ratings on the stock in the last year is $27.7857.

OLN has been the topic of several recent analyst reports. JPMorgan Chase & Co. upped their target price on shares of Olin from $20.00 to $26.00 and gave the stock a “neutral” rating in a research report on Friday, May 15th. Truist Financial upped their target price on shares of Olin from $20.00 to $26.00 and gave the stock a “hold” rating in a research report on Monday, May 11th. UBS Group upped their target price on shares of Olin from $29.00 to $31.00 and gave the stock a “neutral” rating in a research report on Wednesday, May 13th. Weiss Ratings restated a “sell (d+)” rating on shares of Olin in a research report on Thursday, January 22nd. Finally, Citigroup upped their target price on shares of Olin from $26.00 to $30.00 and gave the stock a “neutral” rating in a research report on Thursday, April 16th.

Olin Trading Down 4.2%

NYSE OLN opened at $25.94 on Wednesday. The stock has a market capitalization of $2.95 billion, a P/E ratio of -23.16 and a beta of 1.21. Olin has a 52-week low of $18.08 and a 52-week high of $30.46. The firm has a 50-day moving average price of $27.25 and a 200 day moving average price of $23.92. The company has a quick ratio of 0.82, a current ratio of 1.36 and a debt-to-equity ratio of 1.73.

Olin Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, June 12th. Shareholders of record on Thursday, May 14th will be given a dividend of $0.20 per share. This represents a $0.80 annualized dividend and a yield of 3.1%. The ex-dividend date is Thursday, May 14th. Olin’s dividend payout ratio is presently -71.43%.

Insider Activity at Olin

In other news, VP Angela M. Castle sold 2,379 shares of the stock in a transaction that occurred on Tuesday, February 24th. The shares were sold at an average price of $24.25, for a total value of $57,690.75. Following the sale, the vice president directly owned 1,528 shares in the company, valued at $37,054. This represents a 60.89% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 1.60% of the stock is owned by corporate insiders.

Institutional Trading of Olin

Several large investors have recently modified their holdings of the business. Edgestream Partners L.P. acquired a new stake in shares of Olin in the first quarter valued at approximately $6,894,000. Sunbelt Securities Inc. acquired a new stake in shares of Olin in the first quarter valued at approximately $45,000. Amundi grew its position in shares of Olin by 337.2% in the first quarter. Amundi now owns 684,036 shares of the specialty chemicals company’s stock valued at $20,336,000 after purchasing an additional 527,586 shares during the last quarter. California State Teachers Retirement System grew its position in shares of Olin by 24.1% in the first quarter. California State Teachers Retirement System now owns 134,579 shares of the specialty chemicals company’s stock valued at $4,001,000 after purchasing an additional 26,102 shares during the last quarter. Finally, Readystate Asset Management LP acquired a new stake in shares of Olin in the first quarter valued at approximately $10,431,000. 88.67% of the stock is currently owned by institutional investors and hedge funds.

Olin Company Profile

Olin Corporation is a diversified manufacturer specializing in chemical products and ammunition. The company’s core business activities encompass the production and distribution of chlor-alkali products, epoxy resins and derivatives, and small-caliber ammunition under the Winchester brand. Olin’s chemical operations supply chlorine, caustic soda and related co-products to a wide range of end markets, including water treatment, pulp and paper, pharmaceuticals and general industrial applications.

In its Chlor Alkali Products & Vinyls segment, Olin operates multiple manufacturing facilities that produce chlorine and sodium hydroxide, along with vinyl chloride monomer and polyvinyl chloride (PVC) compounds.