Olin Corporation (NYSE:OLN) Given Consensus Recommendation of "Hold" by Brokerages

Key Points

• Olin Corporation has received a consensus recommendation of "Hold" from analysts, with a mix of ratings including two sells, eleven holds, two buys, and one strong buy.
• The average 1-year price target for Olin's stock is approximately $25.71 according to analyst reports.
• Olin recently announced a quarterly dividend of $0.20 per share, yielding about 3.3%, although it currently has a negative payout ratio.

Shares of Olin Corporation (NYSE:OLN - Get Free Report) have been assigned an average recommendation of "Hold" from the sixteen analysts that are currently covering the firm, MarketBeat Ratings reports. Two equities research analysts have rated the stock with a sell rating, eleven have assigned a hold rating, two have assigned a buy rating and one has assigned a strong buy rating to the company. The average 1-year price objective among analysts that have issued a report on the stock in the last year is $25.7143.

Several equities research analysts have weighed in on OLN shares. Royal Bank Of Canada set a $26.00 price target on shares of Olin and gave the company a "sector perform" rating in a research note on Tuesday, October 14th. Citigroup downgraded shares of Olin from a "buy" rating to a "neutral" rating and set a $25.00 price target for the company. in a research note on Thursday, October 2nd. Mizuho set a $26.00 price target on shares of Olin in a research note on Friday, October 3rd. Wall Street Zen raised shares of Olin from a "sell" rating to a "hold" rating in a research note on Saturday, August 2nd. Finally, KeyCorp decreased their price target on shares of Olin from $32.00 to $31.00 and set an "overweight" rating for the company in a research note on Wednesday, July 30th.

Insider Activity at Olin

In other news, VP Teresa M. Vermillion sold 6,000 shares of the business's stock in a transaction dated Wednesday, August 13th. The shares were sold at an average price of $21.11, for a total transaction of $126,660.00. Following the completion of the sale, the vice president directly owned 17,199 shares of the company's stock, valued at $363,070.89. The trade was a 25.86% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. 1.60% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Olin

Several hedge funds and other institutional investors have recently made changes to their positions in OLN. Envestnet Portfolio Solutions Inc. bought a new stake in shares of Olin during the first quarter worth about $206,000. Sequoia Financial Advisors LLC bought a new stake in shares of Olin during the first quarter worth about $247,000. Mirae Asset Global Investments Co. Ltd. purchased a new position in Olin during the first quarter worth about $31,000. Deroy & Devereaux Private Investment Counsel Inc. boosted its holdings in Olin by 3.5% during the first quarter. Deroy & Devereaux Private Investment Counsel Inc. now owns 57,760 shares of the specialty chemicals company's stock worth $1,400,000 after purchasing an additional 1,960 shares during the last quarter. Finally, M&T Bank Corp boosted its holdings in Olin by 75.4% during the first quarter. M&T Bank Corp now owns 14,118 shares of the specialty chemicals company's stock worth $342,000 after purchasing an additional 6,071 shares during the last quarter. 88.67% of the stock is owned by institutional investors.

Olin Price Performance

OLN stock opened at $24.05 on Friday. The firm has a market cap of $2.76 billion, a price-to-earnings ratio of -200.44 and a beta of 1.68. The company has a quick ratio of 0.88, a current ratio of 1.48 and a debt-to-equity ratio of 1.50. Olin has a 12-month low of $17.66 and a 12-month high of $44.76. The company's fifty day simple moving average is $24.03 and its 200 day simple moving average is $21.82.

Olin (NYSE:OLN - Get Free Report) last posted its quarterly earnings results on Monday, July 28th. The specialty chemicals company reported $0.05 earnings per share for the quarter, missing the consensus estimate of $0.09 by ($0.04). Olin had a negative net margin of 0.21% and a negative return on equity of 0.13%. The company had revenue of $1.76 billion during the quarter, compared to the consensus estimate of $1.68 billion. During the same period last year, the firm posted $0.62 earnings per share. The company's revenue for the quarter was up 7.0% on a year-over-year basis. On average, analysts expect that Olin will post 1.38 earnings per share for the current year.

Olin Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, September 12th. Stockholders of record on Thursday, August 28th were given a dividend of $0.20 per share. The ex-dividend date of this dividend was Thursday, August 28th. This represents a $0.80 annualized dividend and a dividend yield of 3.3%. Olin's payout ratio is presently -666.67%.

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.

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