Olin (NYSE:OLN) Price Target Cut to $20.00 by Analysts at JPMorgan Chase & Co.

Olin (NYSE:OLN - Free Report) had its target price cut by JPMorgan Chase & Co. from $28.00 to $20.00 in a research report released on Tuesday morning,Benzinga reports. They currently have a neutral rating on the specialty chemicals company's stock.

A number of other brokerages have also commented on OLN. Truist Financial reduced their target price on shares of Olin from $25.00 to $24.00 and set a "hold" rating on the stock in a research report on Monday, May 5th. Morgan Stanley reduced their target price on Olin from $31.00 to $28.00 and set an "underweight" rating for the company in a research note on Tuesday, February 4th. BMO Capital Markets decreased their target price 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. Wells Fargo & Company raised their price target on shares of Olin from $19.00 to $22.00 and gave the company an "equal weight" rating in a research note on Tuesday, May 6th. Finally, KeyCorp reduced 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. One investment analyst has rated the stock with a sell rating, eleven have given a hold rating and three have assigned a buy rating to the stock. According to MarketBeat, the stock currently has an average rating of "Hold" and a consensus target price of $28.60.

Olin Stock Down 0.4 %

Shares of Olin stock traded down $0.09 during trading on Tuesday, hitting $21.32. The company's stock had a trading volume of 1,214,392 shares, compared to its average volume of 1,586,480. The company has a debt-to-equity ratio of 1.32, a quick ratio of 0.77 and a current ratio of 1.27. The company has a fifty day simple moving average of $22.47 and a two-hundred day simple moving average of $30.71. Olin has a 52 week low of $17.66 and a 52 week high of $57.10. The company has a market capitalization of $2.45 billion, a PE ratio of 23.69 and a beta of 1.56.

Olin (NYSE:OLN - Get Free Report) last posted its earnings results on Thursday, May 1st. The specialty chemicals company reported $0.04 earnings per share for the quarter, beating analysts' consensus estimates of ($0.10) by $0.14. Olin had a return on equity of 5.10% and a net margin of 1.66%. The company had revenue of $1.64 billion for the quarter, compared to the consensus estimate of $1.58 billion. During the same quarter in the prior year, the company earned $0.40 earnings per share. Olin's revenue was up 1.2% on a year-over-year basis. Equities research analysts predict that Olin will post 1.38 earnings per share for the current 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 dividend on an annualized basis and a dividend yield of 3.75%. The ex-dividend date of this dividend is Thursday, May 15th. Olin's dividend payout ratio (DPR) is 156.86%.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of OLN. Fifth Third Bancorp lifted its holdings in Olin by 160.5% in the first quarter. Fifth Third Bancorp now owns 1,206 shares of the specialty chemicals company's stock valued at $29,000 after buying an additional 743 shares during the period. Mirae Asset Global Investments Co. Ltd. acquired a new position in Olin in the first quarter valued at about $31,000. Allworth Financial LP grew its stake in shares of Olin by 188.5% during the first quarter. Allworth Financial LP now owns 1,676 shares of the specialty chemicals company's stock worth $37,000 after buying an additional 1,095 shares during the last quarter. Covestor Ltd increased its position in Olin by 45.8% in the 4th quarter. Covestor Ltd now owns 1,334 shares of the specialty chemicals company's stock valued at $45,000 after acquiring an additional 419 shares during the period. Finally, Spire Wealth Management lifted its position in shares of Olin by 246.8% in the 4th quarter. Spire Wealth Management now owns 1,616 shares of the specialty chemicals company's stock worth $55,000 after purchasing an additional 1,150 shares during the period. 88.67% of the stock is currently 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.