Olin (NYSE:OLN) Stock Gets Price Target Reduction from Royal Bank Of Canada

Olin (NYSE:OLN) had its price target decreased by Royal Bank Of Canada from $20.00 to $16.00 in a research report released on Tuesday, MarketBeat reports. Royal Bank Of Canada currently has a sector perform rating on the specialty chemicals company’s stock.

Other analysts have also recently issued research reports about the company. JPMorgan Chase & Co. cut their target price on Olin from $26.00 to $25.00 and set a “neutral” rating on the stock in a research report on Thursday, June 18th. UBS Group decreased their target price on Olin from $21.00 to $18.00 and set a “neutral” rating for the company in a research report on Monday, October 5th. BMO Capital Markets decreased their target price on Olin from $30.00 to $25.00 and set a “market perform” rating for the company in a research report on Monday, July 6th. KeyCorp started coverage on Olin in a research note on Friday, September 11th. They set an “overweight” rating and a $26.00 price target on the stock. Finally, Deutsche Bank Aktiengesellschaft cut their price target on Olin from $30.00 to $20.00 and set a “hold” rating on the stock in a research report on Tuesday, August 25th. One investment analyst has rated the stock with a Buy rating, twelve have assigned a Hold rating and three have given a Sell rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Reduce” and an average target price of $20.43.

Olin Trading Up 3.7%

Shares of NYSE:OLN opened at $15.59 on Tuesday. The company has a debt-to-equity ratio of 1.77, a quick ratio of 0.87 and a current ratio of 1.42. Olin has a twelve month low of $14.64 and a twelve month high of $30.46. The firm has a 50 day simple moving average of $17.06 and a 200-day simple moving average of $21.96.

Olin (NYSE:OLN) last posted its earnings results on Thursday, July 30th. The specialty chemicals company reported ($0.12) EPS for the quarter, missing analysts’ consensus estimates of $0.13 by ($0.25). Olin had a negative net margin of 2.08% and a negative return on equity of 4.76%. The company had revenue of $1.74 billion during the quarter, compared to analysts’ expectations of $1.81 billion. During the same period last year, the business earned ($0.01) earnings per share. The company’s quarterly revenue was down .9% on a year-over-year basis. On average, research analysts expect that Olin will post -0.80 EPS for the current year.

Olin Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, September 11th. Investors of record on Thursday, August 27th were paid a dividend of $0.20 per share. The ex-dividend date was Thursday, August 27th. This represents a $0.80 dividend on an annualized basis and a yield of 5.1%. Olin’s dividend payout ratio is currently -65.04%.

Institutional Inflows and Outflows

A number of institutional investors have recently bought and sold shares of OLN. CX Institutional acquired a new position in Olin in the 3rd quarter valued at about $76,000. Tidal Investments LLC lifted its position in Olin by 16.7% during the 2nd quarter. Tidal Investments LLC now owns 50,158 shares of the specialty chemicals company’s stock worth $994,000 after acquiring an additional 7,175 shares during the period. WINTON GROUP Ltd acquired a new stake in Olin during the 2nd quarter worth approximately $1,747,000. Engineers Gate Manager LP lifted its position in Olin by 1,601.5% during the 2nd quarter. Engineers Gate Manager LP now owns 210,478 shares of the specialty chemicals company’s stock worth $4,172,000 after acquiring an additional 198,108 shares during the period. Finally, Integrated Wealth Concepts LLC purchased a new position in shares of Olin in the 2nd quarter valued at approximately $205,000. 88.67% of the stock is currently owned by institutional investors and hedge funds.

Olin Company Profile

Olin Corporation is a global manufacturer of chemical products and ammunition. The company operates through its Chlor Alkali Products and Vinyls, Epoxy, and Winchester businesses, serving customers in a range of industrial, commercial, and consumer markets.

Olin’s Chlor Alkali Products and Vinyls business produces chlorine, caustic soda, hydrochloric acid, hydrogen, bleach products, chlorinated organic chemicals, and related materials used in water treatment, construction, pulp and paper, energy, and other manufacturing applications.