Olin Co. (NYSE:OLN) Given Average Rating of “Hold” by Brokerages

Olin Co. (NYSE:OLN) has been assigned a consensus rating of “Hold” from the fourteen analysts that are covering the firm, MarketBeat.com reports. One analyst has rated the stock with a sell rating, seven have issued a hold rating and six have issued a buy rating on the company. The average 1 year target price among brokers that have issued ratings on the stock in the last year is $53.86.

Several equities research analysts recently weighed in on OLN shares. Barclays decreased their target price on Olin from $59.00 to $49.00 and set an “equal weight” rating for the company in a research note on Monday, July 29th. Deutsche Bank Aktiengesellschaft dropped their target price on shares of Olin from $57.00 to $48.00 and set a “hold” rating on the stock in a research report on Monday, July 29th. Citigroup raised their price objective on Olin from $63.00 to $67.00 and gave the stock a “buy” rating in a report on Wednesday, April 10th. Royal Bank of Canada reduced their target price on Olin from $61.00 to $52.00 and set an “outperform” rating for the company in a report on Monday, July 29th. Finally, KeyCorp dropped their price target on Olin from $69.00 to $62.00 and set an “overweight” rating on the stock in a research note on Monday, July 29th.

Olin Stock Performance

Shares of OLN opened at $41.42 on Thursday. The stock has a 50-day simple moving average of $48.63 and a 200-day simple moving average of $52.48. The company has a debt-to-equity ratio of 1.29, a quick ratio of 0.82 and a current ratio of 1.43. Olin has a 1 year low of $40.41 and a 1 year high of $60.60. The stock has a market capitalization of $4.95 billion, a PE ratio of 14.90, a PEG ratio of 0.96 and a beta of 1.44.

Olin (NYSE:OLN) last announced its quarterly earnings data on Thursday, July 25th. The specialty chemicals company reported $0.62 earnings per share for the quarter, missing analysts’ consensus estimates of $0.70 by ($0.08). The firm had revenue of $1.64 billion during the quarter, compared to analyst estimates of $1.71 billion. Olin had a net margin of 4.26% and a return on equity of 11.73%. Olin’s revenue for the quarter was down 3.5% compared to the same quarter last year. During the same quarter in the previous year, the business posted $1.13 earnings per share. On average, analysts predict that Olin will post 1.61 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, September 13th. Stockholders of record on Thursday, August 8th will be given a dividend of $0.20 per share. The ex-dividend date of this dividend is Thursday, August 8th. This represents a $0.80 dividend on an annualized basis and a dividend yield of 1.93%. Olin’s payout ratio is 28.78%.

Institutional Investors Weigh In On Olin

Large investors have recently added to or reduced their stakes in the business. Boston Partners lifted its stake in shares of Olin by 122.8% during the 4th quarter. Boston Partners now owns 5,029,377 shares of the specialty chemicals company’s stock worth $271,152,000 after purchasing an additional 2,772,274 shares during the period. Norges Bank purchased a new position in Olin during the fourth quarter worth about $76,125,000. Balyasny Asset Management L.P. boosted its stake in Olin by 218.6% in the 4th quarter. Balyasny Asset Management L.P. now owns 1,649,273 shares of the specialty chemicals company’s stock worth $88,978,000 after buying an additional 1,131,674 shares during the last quarter. Franklin Resources Inc. grew its holdings in Olin by 67.6% in the 4th quarter. Franklin Resources Inc. now owns 663,202 shares of the specialty chemicals company’s stock valued at $35,780,000 after buying an additional 267,460 shares during the period. Finally, Bank of Nova Scotia acquired a new position in shares of Olin during the 4th quarter valued at about $12,628,000. 88.67% of the stock is owned by institutional investors and hedge funds.

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.