Barclays Lowers Olin (NYSE:OLN) Price Target to $24.00

Olin (NYSE:OLN - Free Report) had its price target lowered by Barclays from $28.00 to $24.00 in a report published on Wednesday,Benzinga reports. The firm currently has an equal weight rating on the specialty chemicals company's stock.

Several other brokerages also recently commented on OLN. KeyCorp cut their target price on Olin from $40.00 to $34.00 and set an "overweight" rating for the company in a research note on Monday, April 14th. Citigroup lowered their price target on shares of Olin from $34.00 to $30.00 and set a "buy" rating on the stock in a report on Thursday, March 27th. BMO Capital Markets reduced their price objective on shares of Olin from $44.00 to $34.00 and set a "market perform" rating for the company in a research note on Wednesday, February 5th. The Goldman Sachs Group decreased their target price on shares of Olin from $33.00 to $25.00 and set a "neutral" rating on the stock in a report on Tuesday, May 6th. Finally, UBS Group raised their price target on shares of Olin from $21.00 to $22.00 and gave the company a "neutral" rating in a report on Friday, May 2nd. One research analyst has rated the stock with a sell rating, eleven have issued a hold rating and three have given a buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of "Hold" and an average target price of $27.80.

Olin Stock Performance

Shares of NYSE OLN traded down $0.71 during midday trading on Wednesday, hitting $19.42. The company's stock had a trading volume of 3,337,674 shares, compared to its average volume of 1,635,875. The firm has a market capitalization of $2.24 billion, a price-to-earnings ratio of 21.58 and a beta of 1.56. The company has a current ratio of 1.27, a quick ratio of 0.77 and a debt-to-equity ratio of 1.32. The stock has a fifty day moving average price of $21.23 and a 200 day moving average price of $28.43. Olin has a one year low of $17.66 and a one year high of $54.05.

Olin (NYSE:OLN - Get Free Report) last issued its earnings results 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. Olin had a net margin of 1.66% and a return on equity of 5.10%. The business had revenue of $1.64 billion for the quarter, compared to analysts' expectations of $1.58 billion. During the same quarter in the previous year, the firm posted $0.40 EPS. The business's revenue for the quarter was up 1.2% compared to the same quarter last year. On average, research analysts forecast that Olin will post 1.38 EPS for the current fiscal year.

Olin Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, June 13th. Stockholders of record on Thursday, May 15th will be given a $0.20 dividend. 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

A number of institutional investors and hedge funds have recently bought and sold shares of OLN. Fifth Third Bancorp lifted its stake in shares of Olin by 160.5% in the first quarter. Fifth Third Bancorp now owns 1,206 shares of the specialty chemicals company's stock worth $29,000 after buying an additional 743 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. purchased a new position in Olin in the 1st quarter worth approximately $31,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. bought a new position in Olin in the 1st quarter valued at approximately $32,000. Allworth Financial LP boosted its stake in Olin by 188.5% during the 1st quarter. Allworth Financial LP now owns 1,676 shares of the specialty chemicals company's stock valued at $37,000 after purchasing an additional 1,095 shares during the last quarter. Finally, Covestor Ltd increased its holdings in shares of Olin by 45.8% in the 4th quarter. Covestor Ltd now owns 1,334 shares of the specialty chemicals company's stock worth $45,000 after purchasing an additional 419 shares in the last quarter. 88.67% of the stock is currently owned by institutional investors.

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.