Olin (NYSE:OLN) PT Lowered to $73.00 at Piper Sandler

Olin (NYSE:OLNGet Rating) had its target price trimmed by Piper Sandler from $80.00 to $73.00 in a research report released on Tuesday morning, Benzinga reports. The firm currently has an overweight rating on the specialty chemicals company’s stock.

Several other research firms also recently weighed in on OLN. StockNews.com downgraded Olin from a strong-buy rating to a buy rating in a research note on Wednesday, June 15th. Citigroup downgraded Olin from a buy rating to a neutral rating and cut their target price for the stock from $74.00 to $55.00 in a research note on Friday, June 17th. UBS Group cut their target price on Olin from $64.00 to $60.00 and set a buy rating for the company in a research note on Friday, July 29th. Barclays cut their target price on Olin from $65.00 to $52.00 and set an equal weight rating for the company in a research note on Monday, July 11th. Finally, Bank of America cut their target price on Olin from $81.00 to $72.00 and set a buy rating for the company in a research note on Tuesday, June 14th. Three research analysts have rated the stock with a hold rating and nine have issued a buy rating to the company’s stock. According to MarketBeat.com, Olin has a consensus rating of Moderate Buy and an average price target of $67.18.

Olin Stock Up 2.3 %

Shares of NYSE:OLN opened at $52.17 on Tuesday. The company has a debt-to-equity ratio of 0.96, a current ratio of 1.44 and a quick ratio of 0.93. The company has a market capitalization of $7.57 billion, a PE ratio of 5.49, a price-to-earnings-growth ratio of 1.60 and a beta of 1.34. Olin has a 1 year low of $43.02 and a 1 year high of $67.25. The business has a fifty day moving average price of $52.21 and a two-hundred day moving average price of $53.41.

Olin Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, September 9th. Shareholders of record on Wednesday, August 10th will be paid a $0.20 dividend. The ex-dividend date of this dividend is Tuesday, August 9th. This represents a $0.80 dividend on an annualized basis and a yield of 1.53%. Olin’s dividend payout ratio (DPR) is currently 8.41%.

Insiders Place Their Bets

In other news, Director C Robert Bunch sold 43,293 shares of Olin stock in a transaction that occurred on Tuesday, May 17th. The stock was sold at an average price of $65.02, for a total value of $2,814,910.86. The sale was disclosed in a document filed with the SEC, which is available through this link. In other news, VP R Nichole Sumner sold 9,518 shares of Olin stock in a transaction that occurred on Friday, May 27th. The stock was sold at an average price of $64.83, for a total value of $617,051.94. Following the sale, the vice president now directly owns 12,242 shares in the company, valued at approximately $793,648.86. The sale was disclosed in a filing with the SEC, which is available through this link. Also, Director C Robert Bunch sold 43,293 shares of Olin stock in a transaction that occurred on Tuesday, May 17th. The stock was sold at an average price of $65.02, for a total value of $2,814,910.86. The disclosure for this sale can be found here. Insiders have sold 2,586,576 shares of company stock valued at $158,064,019 in the last ninety days. Company insiders own 9.00% of the company’s stock.

Institutional Investors Weigh In On Olin

Several hedge funds have recently made changes to their positions in the company. Vanguard Group Inc. boosted its position in shares of Olin by 3.2% during the first quarter. Vanguard Group Inc. now owns 15,867,281 shares of the specialty chemicals company’s stock valued at $829,542,000 after purchasing an additional 493,052 shares in the last quarter. BlackRock Inc. raised its stake in Olin by 3.1% during the first quarter. BlackRock Inc. now owns 15,796,238 shares of the specialty chemicals company’s stock valued at $825,827,000 after buying an additional 472,527 shares during the last quarter. State Street Corp raised its stake in Olin by 0.6% during the first quarter. State Street Corp now owns 5,581,714 shares of the specialty chemicals company’s stock valued at $291,812,000 after buying an additional 31,587 shares during the last quarter. Fuller & Thaler Asset Management Inc. raised its stake in Olin by 3.8% during the fourth quarter. Fuller & Thaler Asset Management Inc. now owns 4,669,514 shares of the specialty chemicals company’s stock valued at $268,590,000 after buying an additional 170,468 shares during the last quarter. Finally, Invesco Ltd. raised its stake in Olin by 37.3% during the fourth quarter. Invesco Ltd. now owns 4,391,847 shares of the specialty chemicals company’s stock valued at $252,618,000 after buying an additional 1,193,359 shares during the last quarter. 81.79% of the stock is currently owned by institutional investors.

About Olin

(Get Rating)

Olin Corporation manufactures and distributes chemical products in the United States, Europe, and internationally. 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, chlorinated organics intermediates and solvents, and sodium hypochlorite.

Further Reading

Analyst Recommendations for Olin (NYSE:OLN)

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