Olin (NYSE:OLN) PT Raised to $69.00 at Royal Bank of Canada

Olin (NYSE:OLN - Free Report) had its price objective upped by Royal Bank of Canada from $64.00 to $69.00 in a report released on Friday, Benzinga reports. The firm currently has an outperform rating on the specialty chemicals company's stock.

A number of other research firms have also commented on OLN. Barclays raised their price objective on shares of Olin from $57.00 to $59.00 and gave the company an equal weight rating in a research report on Thursday, April 4th. Stifel Nicolaus upped their price target on shares of Olin from $65.00 to $66.00 and gave the stock a buy rating in a report on Monday, January 29th. KeyCorp increased their price objective on Olin from $66.00 to $78.00 and gave the stock an overweight rating in a research report on Tuesday, April 9th. UBS Group boosted their target price on Olin from $56.00 to $58.00 and gave the stock a neutral rating in a research report on Friday, January 26th. Finally, Wells Fargo & Company raised their price target on Olin from $56.00 to $60.00 and gave the company an equal weight rating in a report on Wednesday, April 3rd. Two equities research analysts have rated the stock with a sell rating, eight have assigned a hold rating and five have given a buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of Hold and a consensus price target of $59.33.

Olin Stock Performance

Shares of OLN traded up $0.41 during mid-day trading on Friday, hitting $53.58. The stock had a trading volume of 688,838 shares, compared to its average volume of 1,028,066. The company has a debt-to-equity ratio of 1.14, a current ratio of 1.29 and a quick ratio of 0.73. The firm has a market cap of $6.41 billion, a P/E ratio of 15.14, a PEG 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 has a fifty day moving average price of $55.43 and a 200-day moving average price of $51.39.

Olin (NYSE:OLN - Get Free Report) last issued its earnings results on Thursday, January 25th. The specialty chemicals company reported $0.30 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.20 by $0.10. The business had revenue of $1.61 billion for the quarter, compared to analysts' expectations of $1.50 billion. Olin had a net margin of 6.74% and a return on equity of 18.44%. On average, equities research analysts expect that Olin will post 3.75 EPS for the current year.

Olin Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, March 15th. Stockholders of record on Thursday, March 7th were issued a $0.20 dividend. The ex-dividend date of this dividend was Wednesday, March 6th. This represents a $0.80 dividend on an annualized basis and a dividend yield of 1.49%. Olin's payout ratio is 22.60%.

Insider Activity

In other news, CEO Scott Mcdougald Sutton sold 15,000 shares of the firm's stock in a transaction dated Thursday, February 22nd. The stock was sold at an average price of $52.50, for a total transaction of $787,500.00. Following the transaction, the chief executive officer now directly owns 75,327 shares of the company's stock, valued at $3,954,667.50. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. In other news, CEO Scott Mcdougald Sutton sold 15,000 shares of the stock in a transaction that occurred on Thursday, February 22nd. The stock was sold at an average price of $52.50, for a total transaction of $787,500.00. Following the completion of the sale, the chief executive officer now owns 75,327 shares of the company's stock, valued at $3,954,667.50. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, VP Valerie A. Peters sold 71,800 shares of the firm's stock in a transaction that occurred on Wednesday, January 31st. The stock was sold at an average price of $52.52, for a total transaction of $3,770,936.00. Following the completion of the transaction, the vice president now owns 19,469 shares in the company, valued at approximately $1,022,511.88. The disclosure for this sale can be found here. In the last 90 days, insiders sold 753,274 shares of company stock valued at $40,434,124. Corporate insiders own 1.60% of the company's stock.

Institutional Investors Weigh In On Olin

Large investors have recently made changes to their positions in the business. Baystate Wealth Management LLC boosted its position in Olin by 154.6% during the 3rd quarter. Baystate Wealth Management LLC now owns 494 shares of the specialty chemicals company's stock valued at $25,000 after acquiring an additional 300 shares in the last quarter. Salem Investment Counselors Inc. purchased a new stake in shares of Olin in the first quarter worth $26,000. Covestor Ltd grew its position in 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 purchasing an additional 286 shares during the last quarter. Sandy Spring Bank lifted its stake in shares of Olin by 145.6% in the fourth quarter. Sandy Spring Bank now owns 614 shares of the specialty chemicals company's stock worth $33,000 after buying an additional 364 shares in the last quarter. Finally, Quarry LP grew its holdings in shares of Olin by 508.6% during the first quarter. Quarry LP now owns 706 shares of the specialty chemicals company's stock valued at $39,000 after buying an additional 590 shares during the last quarter. 88.67% of the stock is currently owned by institutional investors.

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.