Olin (NYSE:OLN) Given New $24.00 Price Target at Barclays

Olin (NYSE:OLN - Free Report) had its price objective cut by Barclays from $28.00 to $24.00 in a report issued on Wednesday morning,Benzinga reports. They currently have an equal weight rating on the specialty chemicals company's stock.

A number of other research analysts also recently issued reports on OLN. Royal Bank of Canada cut their price objective on Olin from $28.00 to $25.00 and set a "sector perform" rating for the company in a research note on Monday, May 5th. Wells Fargo & Company raised their price objective on Olin from $19.00 to $22.00 and gave the company an "equal weight" rating in a research report on Tuesday, May 6th. UBS Group raised their price objective on Olin from $21.00 to $22.00 and gave the company a "neutral" rating in a research report on Friday, May 2nd. KeyCorp dropped their price objective on Olin from $40.00 to $34.00 and set an "overweight" rating on the stock in a research report on Monday, April 14th. Finally, Piper Sandler dropped their price objective on Olin from $33.00 to $26.00 and set a "neutral" rating on the stock in a research report on Monday, April 7th. One research analyst has rated the stock with a sell rating, eleven have issued a hold rating and three have assigned a buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of "Hold" and an average price target of $27.80.

Olin Stock Performance

Shares of Olin stock traded down $0.71 during trading hours on Wednesday, reaching $19.42. 3,337,674 shares of the stock traded hands, compared to its average volume of 1,633,472. The company has a 50 day moving average price of $21.34 and a 200 day moving average price of $28.69. The firm has a market capitalization of $2.24 billion, a price-to-earnings ratio of 21.58 and a beta of 1.56. Olin has a one year low of $17.66 and a one year high of $54.05. The company has a quick ratio of 0.77, a current ratio of 1.27 and a debt-to-equity ratio of 1.32.

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 (EPS) for the quarter, beating analysts' consensus estimates of ($0.10) by $0.14. The company had revenue of $1.64 billion during the quarter, compared to the consensus estimate of $1.58 billion. Olin had a return on equity of 5.10% and a net margin of 1.66%. The firm's revenue was up 1.2% on a year-over-year basis. During the same period in the previous year, the company posted $0.40 EPS. On average, equities research analysts expect that Olin will post 1.38 earnings per share for the current fiscal year.

Olin Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, June 13th. Investors of record on Thursday, May 15th will be issued a dividend of $0.20 per share. This represents a $0.80 annualized dividend and a dividend yield of 4.12%. The ex-dividend date of this dividend is Thursday, May 15th. Olin's dividend payout ratio is presently 156.86%.

Institutional Trading of Olin

Hedge funds have recently modified their holdings of the business. Barclays PLC increased its position in Olin by 37.7% during the third quarter. Barclays PLC now owns 125,913 shares of the specialty chemicals company's stock worth $6,042,000 after buying an additional 34,485 shares in the last quarter. First Citizens Bank & Trust Co. boosted its holdings 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. Blue Trust Inc. raised its stake in Olin by 34.3% during the fourth quarter. Blue Trust Inc. now owns 2,887 shares of the specialty chemicals company's stock valued at $98,000 after buying an additional 738 shares in the last quarter. KBC Group NV raised its stake in Olin by 82.9% during the fourth quarter. KBC Group NV now owns 5,461 shares of the specialty chemicals company's stock valued at $185,000 after buying an additional 2,476 shares in the last quarter. Finally, Crews Bank & Trust acquired a new stake in shares of Olin during the 4th quarter worth approximately $153,000. 88.67% of the stock is owned by institutional investors and hedge funds.

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.