Olin Corporation (NYSE:OLN) Given Average Rating of "Hold" by Brokerages

Key Points

• Olin has an average “Hold” rating from 16 analysts: nine rate it Hold, four Sell, two Buy, and one Strong Buy. The average 12-month price target is $26.46.
• Several brokerages recently reduced their price targets, with JPMorgan, Mizuho, and Goldman Sachs maintaining neutral ratings; Citigroup and Wall Street Zen took a more bearish view.
• Olin shares opened at $23.21, while institutional investors own 88.67% of the stock. The company pays a quarterly dividend of $0.20, equivalent to a 3.4% yield.

Shares of Olin Corporation (NYSE:OLN - Get Free Report) have been assigned an average rating of "Hold" from the sixteen ratings firms that are currently covering the stock, Marketbeat reports. Four analysts have rated the stock with a sell recommendation, nine have issued a hold recommendation, two have issued a buy recommendation and one has given a strong buy recommendation to the company. The average twelve-month price objective among brokers that have issued a report on the stock in the last year is $26.4615.

Several brokerages recently issued reports on OLN. JPMorgan Chase & Co. cut their price target on Olin from $26.00 to $25.00 and set a "neutral" rating for the company in a research note on Thursday, June 18th. Mizuho lowered their price objective on Olin from $26.00 to $23.00 and set a "neutral" rating on the stock in a research note on Wednesday, July 1st. The Goldman Sachs Group dropped their price objective on Olin from $31.00 to $24.00 and set a "neutral" rating for the company in a report on Thursday, July 16th. Citigroup downgraded Olin from a "neutral" rating to an "underperform" rating in a research report on Tuesday, June 30th. Finally, Wall Street Zen lowered Olin from a "hold" rating to a "sell" rating in a report on Saturday, June 27th.

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the business. Values First Advisors Inc. boosted its stake in shares of Olin by 3.4% in the 1st quarter. Values First Advisors Inc. now owns 12,909 shares of the specialty chemicals company's stock valued at $384,000 after purchasing an additional 425 shares in the last quarter. Covestor Ltd grew its holdings in shares of Olin by 10.6% during the 4th quarter. Covestor Ltd now owns 5,189 shares of the specialty chemicals company's stock valued at $108,000 after purchasing an additional 497 shares during the last quarter. Oregon Public Employees Retirement Fund increased its position in Olin by 2.2% during the 1st quarter. Oregon Public Employees Retirement Fund now owns 23,302 shares of the specialty chemicals company's stock worth $693,000 after purchasing an additional 500 shares in the last quarter. Madison Asset Management LLC increased its position in Olin by 0.6% during the 4th quarter. Madison Asset Management LLC now owns 97,616 shares of the specialty chemicals company's stock worth $2,033,000 after purchasing an additional 555 shares in the last quarter. Finally, First Citizens Bank & Trust Co. lifted its stake in Olin by 2.0% in the 1st quarter. First Citizens Bank & Trust Co. now owns 31,230 shares of the specialty chemicals company's stock valued at $928,000 after purchasing an additional 609 shares during the last quarter. Institutional investors and hedge funds own 88.67% of the company's stock.

Olin Stock Performance

Shares of NYSE:OLN opened at $23.21 on Monday. Olin has a 12-month low of $18.08 and a 12-month high of $30.46. The company's 50 day moving average price is $23.23 and its two-hundred day moving average price is $24.81. The firm has a market cap of $2.64 billion, a PE ratio of -20.73 and a beta of 1.21. The company has a quick ratio of 0.82, a current ratio of 1.36 and a debt-to-equity ratio of 1.73.

Olin Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, June 12th. Stockholders of record on Thursday, May 14th were paid a $0.20 dividend. The ex-dividend date was Thursday, May 14th. This represents a $0.80 annualized dividend and a dividend yield of 3.4%. Olin's dividend payout ratio (DPR) is presently -71.43%.

About Olin

Olin Corporation is a diversified manufacturer specializing in chemical products and ammunition. The company's core business activities encompass the production and distribution of chlor-alkali products, epoxy resins and derivatives, and small-caliber ammunition under the Winchester brand. Olin's chemical operations supply chlorine, caustic soda and related co-products to a wide range of end markets, including water treatment, pulp and paper, pharmaceuticals and general industrial applications.

In its Chlor Alkali Products & Vinyls segment, Olin operates multiple manufacturing facilities that produce chlorine and sodium hydroxide, along with vinyl chloride monomer and polyvinyl chloride (PVC) compounds.

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