Olin (NYSE:OLN) Price Target Cut to $24.00 by Analysts at Mizuho

Olin (NYSE:OLN - Free Report) had its target price cut by Mizuho from $25.00 to $24.00 in a research report sent to investors on Tuesday morning,Benzinga reports. They currently have a neutral rating on the specialty chemicals company's stock.

OLN has been the subject of several other research reports. UBS Group upped their price target on Olin from $22.00 to $23.00 and gave the company a "neutral" rating in a report on Wednesday, July 9th. Barclays cut their price target on Olin from $28.00 to $24.00 and set an "equal weight" rating for the company in a report on Wednesday, May 28th. The Goldman Sachs Group cut their price target on Olin from $33.00 to $25.00 and set a "neutral" rating for the company in a report on Tuesday, May 6th. Wall Street Zen lowered Olin from a "hold" rating to a "sell" rating in a research note on Friday, June 27th. Finally, Royal Bank Of Canada lowered their price objective on Olin from $25.00 to $23.00 and set a "sector perform" rating on the stock in a research note on Thursday, July 3rd. Two investment analysts have rated the stock with a sell rating, eleven have issued a hold rating and three have assigned a buy rating to the company. Based on data from MarketBeat, Olin currently has a consensus rating of "Hold" and an average price target of $27.33.

Olin Stock Down 2.3%

NYSE OLN traded down $0.48 on Tuesday, reaching $20.40. The stock had a trading volume of 2,336,313 shares, compared to its average volume of 1,747,260. Olin has a 1 year low of $17.66 and a 1 year high of $50.61. The business has a 50 day moving average price of $20.70 and a 200 day moving average price of $24.26. The company has a market capitalization of $2.35 billion, a price-to-earnings ratio of 40.00 and a beta of 1.52. The company has a current ratio of 1.56, a quick ratio of 0.96 and a debt-to-equity ratio of 1.48.

Olin (NYSE:OLN - Get Free Report) last announced its quarterly earnings results on Thursday, May 1st. The specialty chemicals company reported $0.04 earnings per share for the quarter, topping analysts' consensus estimates of ($0.10) by $0.14. Olin had a return on equity of 3.13% and a net margin of 0.94%. The company had revenue of $1.64 billion during the quarter, compared to analysts' expectations of $1.58 billion. During the same quarter in the previous year, the firm earned $0.40 earnings per share. The business's quarterly revenue was up 1.2% compared to the same quarter last year. On average, analysts forecast that Olin will post 1.38 EPS for the current fiscal year.

Olin Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, June 13th. Stockholders of record on Thursday, May 15th were paid a $0.20 dividend. This represents a $0.80 dividend on an annualized basis and a dividend yield of 3.92%. The ex-dividend date was Thursday, May 15th. Olin's dividend payout ratio (DPR) is currently 156.86%.

Hedge Funds Weigh In On Olin

A number of large investors have recently added to or reduced their stakes in the company. Fifth Third Bancorp grew its holdings in shares of Olin by 160.5% in the 1st quarter. Fifth Third Bancorp now owns 1,206 shares of the specialty chemicals company's stock valued at $29,000 after acquiring an additional 743 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. bought a new position in Olin during the first quarter worth about $31,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. acquired a new stake in Olin during the first quarter worth approximately $32,000. Covestor Ltd lifted its position in Olin by 45.8% during the fourth quarter. Covestor Ltd now owns 1,334 shares of the specialty chemicals company's stock worth $45,000 after acquiring an additional 419 shares during the last quarter. Finally, Allworth Financial LP lifted its position in Olin by 188.5% during the first quarter. Allworth Financial LP now owns 1,676 shares of the specialty chemicals company's stock worth $37,000 after acquiring an additional 1,095 shares during the last quarter. 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.