Olin Corporation (NYSE:OLN) Receives Average Recommendation of "Hold" from Brokerages

Olin Corporation (NYSE:OLN - Get Free Report) has been given a consensus recommendation of "Hold" by the fifteen ratings firms that are currently covering the stock, Marketbeat Ratings reports. One analyst has rated the stock with a sell rating, eleven have assigned a hold rating and three have issued a buy rating on the company. The average 12-month price target among brokers that have issued a report on the stock in the last year is $27.80.

Several research analysts have commented on OLN shares. Citigroup cut their target price on Olin from $34.00 to $30.00 and set a "buy" rating for the company in a research note on Thursday, March 27th. Truist Financial lowered their price target on Olin from $25.00 to $24.00 and set a "hold" rating on the stock in a report on Monday, May 5th. KeyCorp lowered their price target on Olin from $40.00 to $34.00 and set an "overweight" rating on the stock in a report on Monday, April 14th. UBS Group raised their price objective on Olin from $21.00 to $22.00 and gave the company a "neutral" rating in a report on Friday, May 2nd. Finally, Royal Bank Of Canada decreased their price objective on Olin from $28.00 to $25.00 and set a "sector perform" rating on the stock in a report on Monday, May 5th.

Olin Stock Down 0.6%

Shares of NYSE:OLN opened at $19.31 on Friday. The company has a market capitalization of $2.22 billion, a PE ratio of 37.87 and a beta of 1.53. The company has a debt-to-equity ratio of 1.48, a current ratio of 1.56 and a quick ratio of 0.96. The business has a fifty day moving average price of $20.74 and a two-hundred day moving average price of $26.14. Olin has a 1 year low of $17.66 and a 1 year high of $50.75.

Olin (NYSE:OLN - Get Free Report) last announced its quarterly earnings data on Thursday, May 1st. The specialty chemicals company reported $0.04 earnings per share for the quarter, topping the consensus estimate of ($0.10) by $0.14. Olin had a return on equity of 3.13% and a net margin of 0.94%. The company had revenue of $1.64 billion during the quarter, compared to analyst estimates of $1.58 billion. During the same quarter last year, the firm posted $0.40 EPS. The firm's revenue for the quarter was up 1.2% on a year-over-year basis. Analysts forecast that Olin will post 1.38 earnings per share for the current year.

Olin Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, June 13th. Stockholders of record on Thursday, May 15th were given a $0.20 dividend. The ex-dividend date was Thursday, May 15th. This represents a $0.80 dividend on an annualized basis and a dividend yield of 4.14%. Olin's dividend payout ratio is currently 156.86%.

Institutional Investors Weigh In On Olin

A number of large investors have recently made changes to their positions in the business. Intech Investment Management LLC grew its position in shares of Olin by 48.2% in the 1st quarter. Intech Investment Management LLC now owns 90,214 shares of the specialty chemicals company's stock worth $2,187,000 after buying an additional 29,344 shares during the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its stake in Olin by 6.7% during the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 317,472 shares of the specialty chemicals company's stock valued at $7,696,000 after buying an additional 20,047 shares during the last quarter. Arete Wealth Advisors LLC purchased a new position in Olin during the first quarter valued at $1,897,000. Goldman Sachs Group Inc. raised its stake in Olin by 57.6% during the first quarter. Goldman Sachs Group Inc. now owns 588,602 shares of the specialty chemicals company's stock valued at $14,268,000 after buying an additional 215,235 shares during the last quarter. Finally, Jones Financial Companies Lllp raised its stake in Olin by 467.9% during the first quarter. Jones Financial Companies Lllp now owns 13,805 shares of the specialty chemicals company's stock valued at $335,000 after buying an additional 11,374 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.

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