Olin (NYSE:OLN) Price Target Raised to $59.00 at Barclays

Olin (NYSE:OLN - Free Report) had its price objective increased by Barclays from $57.00 to $59.00 in a report issued on Thursday morning, Benzinga reports. They currently have an equal weight rating on the specialty chemicals company's stock.

Several other research analysts have also weighed in on the stock. Royal Bank of Canada raised their price objective on shares of Olin from $58.00 to $64.00 and gave the stock an outperform rating in a report on Monday, January 29th. Wells Fargo & Company boosted their price target on shares of Olin from $56.00 to $60.00 and gave the stock an equal weight rating in a research report on Wednesday. Deutsche Bank Aktiengesellschaft began coverage on shares of Olin in a research report on Thursday, December 7th. They set a hold rating and a $52.00 price target on the stock. The Goldman Sachs Group boosted their price target on shares of Olin from $55.00 to $61.00 and gave the stock a neutral rating in a research report on Tuesday, January 30th. Finally, KeyCorp lifted their price objective on shares of Olin from $61.00 to $66.00 and gave the stock an overweight rating in a research note on Tuesday, January 9th. Two analysts have rated the stock with a sell rating, eight have assigned a hold rating and five have issued a buy rating to the company's stock. Based on data from MarketBeat.com, the company currently has an average rating of Hold and an average target price of $57.07.

Olin Price Performance

Shares of OLN stock traded down $0.60 during trading hours on Thursday, hitting $58.83. The company's stock had a trading volume of 877,155 shares, compared to its average volume of 1,074,583. The business has a fifty day moving average of $54.76 and a 200-day moving average of $50.87. The stock has a market cap of $7.04 billion, a price-to-earnings ratio of 16.62, a P/E/G ratio of 0.32 and a beta of 1.44. Olin has a twelve month low of $41.71 and a twelve month high of $60.60. The company has a current ratio of 1.29, a quick ratio of 0.73 and a debt-to-equity ratio of 1.14.

Olin (NYSE:OLN - Get Free Report) last announced its quarterly earnings data on Thursday, January 25th. The specialty chemicals company reported $0.30 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.20 by $0.10. The business had revenue of $1.61 billion for the quarter, compared to the consensus estimate of $1.50 billion. Olin had a net margin of 6.74% and a return on equity of 18.44%. As a group, equities research analysts anticipate 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. Investors of record on Thursday, March 7th were issued a $0.20 dividend. This represents a $0.80 annualized dividend and a yield of 1.36%. The ex-dividend date was Wednesday, March 6th. Olin's payout ratio is presently 22.60%.

Insiders Place Their Bets

In other news, CEO Scott Mcdougald Sutton sold 48,896 shares of the company's stock in a transaction that occurred on Tuesday, February 27th. The stock was sold at an average price of $52.39, for a total transaction of $2,561,661.44. Following the transaction, the chief executive officer now directly owns 90,327 shares of the company's stock, valued at $4,732,231.53. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In other news, CEO Scott Mcdougald Sutton sold 48,896 shares of the firm's stock in a transaction on Tuesday, February 27th. The stock was sold at an average price of $52.39, for a total transaction of $2,561,661.44. Following the completion of the sale, the chief executive officer now directly owns 90,327 shares of the company's stock, valued at approximately $4,732,231.53. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, VP Valerie A. Peters sold 71,800 shares of the firm's stock in a transaction on Wednesday, January 31st. The shares were sold at an average price of $52.52, for a total value of $3,770,936.00. Following the sale, the vice president now directly owns 19,469 shares of the company's stock, valued at $1,022,511.88. The disclosure for this sale can be found here. In the last three months, insiders have sold 753,274 shares of company stock worth $40,434,124. Corporate insiders own 1.60% of the company's stock.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the company. Baystate Wealth Management LLC boosted its stake in Olin by 154.6% in the 3rd quarter. Baystate Wealth Management LLC now owns 494 shares of the specialty chemicals company's stock worth $25,000 after purchasing an additional 300 shares during the period. Salem Investment Counselors Inc. bought a new stake in shares of Olin during the 1st quarter valued at about $26,000. Sandy Spring Bank boosted its position in shares of Olin by 145.6% during the 4th quarter. Sandy Spring Bank now owns 614 shares of the specialty chemicals company's stock valued at $33,000 after acquiring an additional 364 shares during the last quarter. Covestor Ltd boosted its position in shares of Olin by 76.7% during the 3rd quarter. Covestor Ltd now owns 659 shares of the specialty chemicals company's stock valued at $33,000 after acquiring an additional 286 shares during the last quarter. Finally, Quarry LP boosted its position in shares of Olin by 508.6% during the 1st quarter. Quarry LP now owns 706 shares of the specialty chemicals company's stock valued at $39,000 after acquiring an additional 590 shares during the last quarter. Institutional investors own 88.67% of the company's stock.

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.