Olin Co. (NYSE:OLN) Receives $38.38 Average Price Target from Analysts

Shares of Olin Co. (NYSE:OLN) have been assigned an average rating of “Hold” from the sixteen research firms that are currently covering the stock, MarketBeat Ratings reports. One investment analyst has rated the stock with a sell recommendation, eleven have given a hold recommendation and four have assigned a buy recommendation to the company. The average 12-month price target among brokers that have issued ratings on the stock in the last year is $38.38.

Several equities research analysts recently issued reports on the company. Wells Fargo & Company reiterated an “equal weight” rating on shares of Olin in a report on Monday, February 3rd. Morgan Stanley cut their price target on shares of Olin from $31.00 to $28.00 and set an “underweight” rating on the stock in a research note on Tuesday, February 4th. Truist Financial lowered their price objective on shares of Olin from $38.00 to $32.00 and set a “hold” rating for the company in a research note on Monday, February 3rd. UBS Group set a $28.00 target price on shares of Olin in a report on Thursday, February 27th. Finally, Barclays restated an “equal weight” rating on shares of Olin in a research note on Monday, February 3rd.

Insider Activity

In related news, CEO Kenneth Todd Lane purchased 7,250 shares of Olin stock in a transaction that occurred on Tuesday, February 4th. The stock was purchased at an average cost of $28.06 per share, with a total value of $203,435.00. Following the completion of the transaction, the chief executive officer now directly owns 7,250 shares in the company, valued at approximately $203,435. The trade was a ∞ increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Company insiders own 1.60% of the company’s stock.

Institutional Trading of Olin

A number of hedge funds and other institutional investors have recently made changes to their positions in the company. Farther Finance Advisors LLC increased its position in Olin by 88.2% during the third quarter. Farther Finance Advisors LLC now owns 589 shares of the specialty chemicals company’s stock worth $28,000 after buying an additional 276 shares during the period. Covestor Ltd grew its position in shares of Olin by 357.5% during the third quarter. Covestor Ltd now owns 915 shares of the specialty chemicals company’s stock worth $44,000 after acquiring an additional 715 shares during the last quarter. State of New Jersey Common Pension Fund D increased its holdings in shares of Olin by 16.9% in the 3rd quarter. State of New Jersey Common Pension Fund D now owns 44,695 shares of the specialty chemicals company’s stock valued at $2,144,000 after acquiring an additional 6,466 shares during the period. Entropy Technologies LP raised its position in Olin by 2.5% in the 3rd quarter. Entropy Technologies LP now owns 13,499 shares of the specialty chemicals company’s stock valued at $648,000 after purchasing an additional 332 shares during the last quarter. Finally, Connable Office Inc. boosted its stake in Olin by 22.9% during the 3rd quarter. Connable Office Inc. now owns 5,680 shares of the specialty chemicals company’s stock worth $273,000 after purchasing an additional 1,057 shares during the period. Institutional investors and hedge funds own 88.67% of the company’s stock.

Olin Price Performance

Shares of OLN opened at $25.09 on Friday. The firm has a 50-day simple moving average of $28.53 and a two-hundred day simple moving average of $37.05. The stock has a market cap of $2.90 billion, a PE ratio of 27.88 and a beta of 1.61. Olin has a 1-year low of $22.98 and a 1-year high of $60.60. The company has a debt-to-equity ratio of 1.32, a current ratio of 1.27 and a quick ratio of 0.77.

Olin (NYSE:OLN) last posted its quarterly earnings data on Thursday, January 30th. The specialty chemicals company reported $0.09 earnings per share for the quarter, topping analysts’ consensus estimates of ($0.01) by $0.10. Olin had a net margin of 1.66% and a return on equity of 5.10%. As a group, analysts forecast that Olin will post 1.38 EPS for the current year.

Olin announced that its Board of Directors has authorized a stock repurchase program on Thursday, December 12th that authorizes the company to buyback $2.00 billion in shares. This buyback authorization authorizes the specialty chemicals company to buy up to 45% of its stock through open market purchases. Stock buyback programs are generally a sign that the company’s management believes its shares are undervalued.

Olin Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, March 14th. Shareholders of record on Thursday, March 6th were paid a $0.20 dividend. The ex-dividend date of this dividend was Thursday, March 6th. This represents a $0.80 annualized dividend and a yield of 3.19%. Olin’s dividend payout ratio is currently 88.89%.

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.