Royal Bank of Canada Has Lowered Expectations for Olin (NYSE:OLN) Stock Price

Olin (NYSE:OLN - Free Report) had its price target decreased by Royal Bank of Canada from $28.00 to $25.00 in a research report sent to investors on Monday, Marketbeat.com reports. Royal Bank of Canada currently has a sector perform rating on the specialty chemicals company's stock.

OLN has been the subject of several other reports. BMO Capital Markets lowered their target price on Olin from $44.00 to $34.00 and set a "market perform" rating for the company in a research note on Wednesday, February 5th. Mizuho set a $23.00 price objective on Olin in a research report on Tuesday, April 15th. UBS Group raised their target price on shares of Olin from $21.00 to $22.00 and gave the company a "neutral" rating in a report on Friday, May 2nd. JPMorgan Chase & Co. cut shares of Olin from an "overweight" rating to a "neutral" rating and lowered their price target for the stock from $50.00 to $28.00 in a report on Thursday, February 27th. Finally, Piper Sandler reduced their price objective on shares of Olin from $33.00 to $26.00 and set a "neutral" rating on the stock in a report on Monday, April 7th. One analyst has rated the stock with a sell rating, eleven have issued a hold rating and three have given a buy rating to the company's stock. Based on data from MarketBeat.com, the stock currently has an average rating of "Hold" and a consensus price target of $28.60.

Olin Trading Down 0.4 %

NYSE:OLN traded down $0.09 on Monday, reaching $21.32. 1,214,392 shares of the company's stock were exchanged, compared to its average volume of 1,582,365. The business has a fifty day moving average of $22.47 and a 200-day moving average of $30.81. 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 has a 52-week low of $17.66 and a 52-week high of $57.10. The firm has a market capitalization of $2.45 billion, a price-to-earnings ratio of 23.69 and a beta of 1.56.

Olin (NYSE:OLN - Get Free Report) last released its earnings results on Thursday, May 1st. The specialty chemicals company reported $0.04 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of ($0.10) by $0.14. The company had revenue of $1.64 billion for the quarter, compared to analyst estimates of $1.58 billion. Olin had a net margin of 1.66% and a return on equity of 5.10%. The firm's quarterly revenue was up 1.2% on a year-over-year basis. During the same period in the prior year, the business earned $0.40 EPS. As a group, analysts expect that Olin will post 1.38 earnings per share for the current year.

Olin Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, June 13th. Shareholders of record on Thursday, May 15th will be paid a $0.20 dividend. This represents a $0.80 dividend on an annualized basis and a yield of 3.75%. The ex-dividend date of this dividend is Thursday, May 15th. Olin's dividend payout ratio is currently 156.86%.

Institutional Trading of Olin

A number of large investors have recently bought and sold shares of OLN. Barclays PLC raised its stake in shares of 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 purchasing an additional 34,485 shares during the last quarter. Wilmington Savings Fund Society FSB acquired a new stake in shares of Olin in the 3rd quarter worth approximately $256,000. Synovus Financial Corp acquired a new position in shares of Olin during the 3rd quarter worth $253,000. Franklin Resources Inc. lifted its holdings in shares of Olin by 19.2% in the third quarter. Franklin Resources Inc. now owns 1,073,087 shares of the specialty chemicals company's stock valued at $51,015,000 after purchasing an additional 172,768 shares in the last quarter. Finally, First Hawaiian Bank grew its holdings in Olin by 9.0% during the 4th quarter. First Hawaiian Bank now owns 21,642 shares of the specialty chemicals company's stock valued at $732,000 after buying an additional 1,785 shares during 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.