Brokerages Set Olin Co. (NYSE:OLN) Price Target at $30.93

Shares of Olin Co. (NYSE:OLN - Get Free Report) have been given a consensus recommendation of "Hold" by the fifteen research firms that are currently covering the stock, MarketBeat.com reports. One equities research analyst has rated the stock with a sell rating, eleven have assigned a hold rating and three have assigned a buy rating to the company. The average twelve-month price objective among brokerages that have issued ratings on the stock in the last year is $28.60.

A number of equities analysts recently weighed in on the stock. Piper Sandler lowered their price objective on shares of Olin from $33.00 to $26.00 and set a "neutral" rating for the company in a research report on Monday, April 7th. UBS Group lifted their price objective on shares of Olin from $21.00 to $22.00 and gave the company a "neutral" rating in a report on Friday, May 2nd. Citigroup reduced their target price on shares of Olin from $34.00 to $30.00 and set a "buy" rating on the stock in a report on Thursday, March 27th. Bank of America raised Olin from a "neutral" rating to a "buy" rating and cut their price objective for the stock from $48.00 to $40.00 in a research report on Tuesday, January 14th. Finally, Truist Financial decreased their target price on Olin from $25.00 to $24.00 and set a "hold" rating for the company in a report on Monday.

Hedge Funds Weigh In On Olin

Hedge funds and other institutional investors have recently bought and sold shares of the company. Covestor Ltd raised 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. Wilmington Savings Fund Society FSB boosted its holdings in shares of Olin by 9.4% during the fourth quarter. Wilmington Savings Fund Society FSB now owns 5,833 shares of the specialty chemicals company's stock worth $197,000 after purchasing an additional 500 shares during the last quarter. Connable Office Inc. grew its position in shares of Olin by 9.3% in the fourth quarter. Connable Office Inc. now owns 6,207 shares of the specialty chemicals company's stock valued at $210,000 after purchasing an additional 527 shares during the period. First Citizens Bank & Trust Co. increased its stake in Olin by 8.5% in the fourth quarter. First Citizens Bank & Trust Co. now owns 6,930 shares of the specialty chemicals company's stock valued at $234,000 after purchasing an additional 542 shares during the last quarter. Finally, Vestcor Inc lifted its position in Olin by 4.6% during the first quarter. Vestcor Inc now owns 12,630 shares of the specialty chemicals company's stock worth $306,000 after buying an additional 558 shares during the period. 88.67% of the stock is currently owned by hedge funds and other institutional investors.

Olin Price Performance

Shares of OLN traded up $0.50 during trading hours on Friday, hitting $20.89. 158,214 shares of the stock were exchanged, compared to its average volume of 1,572,369. The stock's 50-day moving average price is $22.57 and its two-hundred day moving average price is $31.14. The company has a debt-to-equity ratio of 1.32, a quick ratio of 0.77 and a current ratio of 1.27. The company has a market cap of $2.40 billion, a price-to-earnings ratio of 23.21 and a beta of 1.56. Olin has a 12-month low of $17.66 and a 12-month high of $57.10.

Olin (NYSE:OLN - Get Free Report) last issued its earnings results on Thursday, May 1st. The specialty chemicals company reported $0.04 EPS for the quarter, beating analysts' consensus estimates of ($0.10) by $0.14. The business had revenue of $1.64 billion during the quarter, compared to analysts' expectations of $1.58 billion. Olin had a net margin of 1.66% and a return on equity of 5.10%. The company's quarterly revenue was up 1.2% compared to the same quarter last year. During the same period in the prior year, the business earned $0.40 earnings per share. Research analysts expect that Olin will post 1.38 earnings per share for the current year.

Olin Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, June 13th. Shareholders of record on Thursday, May 15th will be paid a $0.20 dividend. This represents a $0.80 dividend on an annualized basis and a yield of 3.83%. The ex-dividend date is Thursday, May 15th. Olin's dividend payout ratio is currently 156.86%.

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.