Truist Financial Has Lowered Expectations for Olin (NYSE:OLN) Stock Price

Olin (NYSE:OLN - Free Report) had its price target decreased by Truist Financial from $32.00 to $25.00 in a research note released on Monday morning,Benzinga reports. Truist Financial currently has a hold rating on the specialty chemicals company's stock.

A number of other research firms also recently commented on OLN. Royal Bank of Canada downgraded shares of Olin from an "outperform" rating to a "sector perform" rating and reduced their price objective for the stock from $45.00 to $30.00 in a report on Tuesday, February 4th. Citigroup cut their price target on shares of Olin from $34.00 to $30.00 and set a "buy" rating for the company in a research note on Thursday, March 27th. UBS Group dropped their target price on Olin from $34.00 to $21.00 and set a "neutral" rating for the company in a report on Monday, April 7th. JPMorgan Chase & Co. downgraded Olin from an "overweight" rating to a "neutral" rating and cut their target price for the stock from $50.00 to $28.00 in a research report on Thursday, February 27th. Finally, Barclays lowered their price target on Olin from $34.00 to $28.00 and set an "equal weight" rating on the stock in a research report on Tuesday, April 1st. One research analyst has rated the stock with a sell rating, eleven have given a hold rating and four have given a buy rating to the company's stock. According to MarketBeat, the company has an average rating of "Hold" and an average target price of $33.25.

Olin Stock Performance

Shares of NYSE OLN traded up $0.46 during mid-day trading on Monday, hitting $20.83. The company had a trading volume of 1,363,094 shares, compared to its average volume of 1,532,151. Olin has a 12 month low of $17.66 and a 12 month high of $57.10. The firm has a market cap of $2.40 billion, a P/E ratio of 23.14 and a beta of 1.50. The business's 50-day simple moving average is $24.01 and its 200-day simple moving average is $33.45. The company has a debt-to-equity ratio of 1.32, a current ratio of 1.27 and a quick ratio of 0.77.

Olin (NYSE:OLN - Get Free Report) last announced its quarterly earnings data on Thursday, January 30th. The specialty chemicals company reported $0.09 EPS for the quarter, topping analysts' consensus estimates of ($0.01) by $0.10. Olin had a return on equity of 5.10% and a net margin of 1.66%. As a group, analysts predict that Olin will post 1.38 earnings per share for the current fiscal year.

Olin Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, March 14th. Stockholders of record on Thursday, March 6th were given a dividend of $0.20 per share. The ex-dividend date was Thursday, March 6th. This represents a $0.80 dividend on an annualized basis and a dividend yield of 3.84%. Olin's payout ratio is 88.89%.

Insider Buying and Selling at Olin

In other Olin news, CEO Kenneth Todd Lane acquired 7,250 shares of the business's stock in a transaction that occurred on Tuesday, February 4th. The shares were acquired at an average cost of $28.06 per share, for a total transaction of $203,435.00. Following the completion of the acquisition, the chief executive officer now directly owns 7,250 shares of the company's stock, valued at approximately $203,435. This represents a ∞ increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Corporate insiders own 1.60% of the company's stock.

Institutional Trading of Olin

Institutional investors have recently bought and sold shares of the business. Blue Trust Inc. grew its stake in shares of Olin by 34.3% during the fourth quarter. Blue Trust Inc. now owns 2,887 shares of the specialty chemicals company's stock worth $98,000 after purchasing an additional 738 shares during the period. Harbor Capital Advisors Inc. increased its stake in shares of Olin by 55.5% in the 4th quarter. Harbor Capital Advisors Inc. now owns 143,062 shares of the specialty chemicals company's stock valued at $4,835,000 after acquiring an additional 51,051 shares during the last quarter. KBC Group NV raised its position in shares of Olin by 82.9% in the 4th quarter. KBC Group NV now owns 5,461 shares of the specialty chemicals company's stock valued at $185,000 after acquiring an additional 2,476 shares during the period. Mariner Investment Group LLC bought a new position in Olin during the 4th quarter worth approximately $355,000. Finally, LPL Financial LLC increased its stake in Olin by 218.9% in the fourth quarter. LPL Financial LLC now owns 138,477 shares of the specialty chemicals company's stock valued at $4,681,000 after purchasing an additional 95,054 shares in the last quarter. Institutional investors and hedge funds own 88.67% of the company's stock.

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.