Olin Co. (NYSE:OLN) Receives $40.44 Average PT from Analysts

Shares of Olin Co. (NYSE:OLN) have been assigned a consensus rating of “Hold” from the sixteen research firms that are covering the company, MarketBeat reports. One investment analyst has rated the stock with a sell rating, ten have issued a hold rating and five have assigned a buy rating to the company. The average 12 month price objective among brokers that have issued a report on the stock in the last year is $40.44.

A number of brokerages have commented on OLN. KeyCorp dropped their price objective on shares of Olin from $50.00 to $40.00 and set an “overweight” rating on the stock in a research report on Monday, February 3rd. Barclays reissued an “equal weight” rating on shares of Olin in a research report on Monday, February 3rd. Morgan Stanley dropped their price objective on shares of Olin from $31.00 to $28.00 and set an “underweight” rating on the stock in a research report on Tuesday, February 4th. Wells Fargo & Company reissued an “equal weight” rating on shares of Olin in a research report on Monday, February 3rd. Finally, Piper Sandler downgraded shares of Olin from an “overweight” rating to a “neutral” rating and dropped their price objective for the company from $41.00 to $33.00 in a research report on Thursday, February 13th.

Olin Price Performance

Olin stock opened at $26.89 on Monday. The firm has a market cap of $3.14 billion, a PE ratio of 29.88 and a beta of 1.45. Olin has a 52-week low of $26.48 and a 52-week high of $60.60. The company has a quick ratio of 0.77, a current ratio of 1.27 and a debt-to-equity ratio of 1.32. The company’s 50 day moving average is $31.50 and its two-hundred day moving average is $39.18.

Olin (NYSE:OLN) last released its earnings results on Thursday, January 30th. The specialty chemicals company reported $0.09 earnings per share (EPS) 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%. On average, research analysts expect that Olin will post 1.38 EPS for the current fiscal year.

Olin Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, March 14th. Stockholders of record on Thursday, March 6th will be issued a $0.20 dividend. This represents a $0.80 annualized dividend and a dividend yield of 2.97%. The ex-dividend date is Thursday, March 6th. Olin’s payout ratio is 88.89%.

Olin announced that its Board of Directors has authorized a stock buyback plan on Thursday, December 12th that permits the company to repurchase $2.00 billion in outstanding shares. This repurchase authorization permits the specialty chemicals company to buy up to 45% of its shares through open market purchases. Shares repurchase plans are typically an indication that the company’s leadership believes its shares are undervalued.

Insider Activity

In other news, CEO Kenneth Todd Lane bought 7,250 shares of the stock in a transaction dated Tuesday, February 4th. The shares were acquired at an average price of $28.06 per share, with a total value of $203,435.00. Following the completion of the acquisition, 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 document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 1.60% of the company’s stock.

Institutional Trading of Olin

Hedge funds and other institutional investors have recently made changes to their positions in the company. CWM LLC boosted its holdings in Olin by 18.0% during the third quarter. CWM LLC now owns 8,668 shares of the specialty chemicals company’s stock worth $416,000 after buying an additional 1,324 shares in the last quarter. Blue Trust Inc. boosted its holdings in Olin by 63.9% during the third quarter. Blue Trust Inc. now owns 2,149 shares of the specialty chemicals company’s stock worth $101,000 after buying an additional 838 shares in the last quarter. First Citizens Bank & Trust Co. boosted its holdings in Olin by 14.1% during the third quarter. First Citizens Bank & Trust Co. now owns 6,388 shares of the specialty chemicals company’s stock worth $306,000 after buying an additional 789 shares in the last quarter. Raymond James & Associates boosted its holdings in Olin by 10.7% during the third quarter. Raymond James & Associates now owns 192,826 shares of the specialty chemicals company’s stock worth $9,252,000 after buying an additional 18,606 shares in the last quarter. Finally, Allspring Global Investments Holdings LLC boosted its holdings in Olin by 2.4% during the third quarter. Allspring Global Investments Holdings LLC now owns 1,061,001 shares of the specialty chemicals company’s stock worth $50,907,000 after buying an additional 25,163 shares in the last quarter. Hedge funds and other institutional investors own 88.67% of the company’s stock.

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.