Olin (NYSE:OLN) PT Lowered to $62.00

Olin (NYSE:OLNGet Rating) had its target price reduced by Bank of America from $69.00 to $62.00 in a research report sent to investors on Wednesday, The Fly reports.

Several other research analysts have also recently issued reports on OLN. KeyCorp increased their price target on Olin from $60.00 to $61.00 and gave the stock an overweight rating in a research note on Monday, August 1st. Piper Sandler decreased their price target on Olin from $73.00 to $68.00 and set an overweight rating for the company in a research note on Wednesday. StockNews.com cut Olin from a strong-buy rating to a buy rating in a research note on Wednesday, June 15th. Barclays cut their price objective on Olin from $65.00 to $52.00 and set an equal weight rating for the company in a report on Monday, July 11th. Finally, Royal Bank of Canada cut their price objective on Olin from $70.00 to $58.00 and set an outperform rating for the company in a report on Wednesday. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and nine have assigned a buy rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of Moderate Buy and a consensus target price of $63.75.

Olin Trading Down 1.1 %

NYSE:OLN opened at $45.25 on Wednesday. Olin has a 1 year low of $43.02 and a 1 year high of $67.25. The stock has a market cap of $6.57 billion, a price-to-earnings ratio of 4.76, a PEG ratio of 1.51 and a beta of 1.31. The business has a fifty day moving average of $52.44 and a 200-day moving average of $54.26. The company has a debt-to-equity ratio of 0.96, a quick ratio of 0.93 and a current ratio of 1.44.

Olin Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, September 9th. Stockholders of record on Wednesday, August 10th were issued a dividend of $0.20 per share. This represents a $0.80 annualized dividend and a dividend yield of 1.77%. The ex-dividend date was Tuesday, August 9th. Olin’s dividend payout ratio is 8.41%.

Insider Activity

In other news, COO James A. Varilek sold 3,345 shares of the company’s stock in a transaction on Thursday, August 18th. The stock was sold at an average price of $57.81, for a total transaction of $193,374.45. Following the completion of the sale, the chief operating officer now directly owns 17,761 shares of the company’s stock, valued at $1,026,763.41. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. 9.00% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of OLN. Salem Investment Counselors Inc. acquired a new position in Olin during the first quarter valued at $26,000. Wellington Shields Capital Management LLC acquired a new position in Olin during the first quarter valued at $28,000. TFO TDC LLC acquired a new position in Olin during the first quarter valued at $32,000. TCI Wealth Advisors Inc. raised its position in Olin by 169.2% during the first quarter. TCI Wealth Advisors Inc. now owns 603 shares of the specialty chemicals company’s stock valued at $32,000 after buying an additional 379 shares during the period. Finally, FNY Investment Advisers LLC raised its position in Olin by 56.8% during the second quarter. FNY Investment Advisers LLC now owns 712 shares of the specialty chemicals company’s stock valued at $32,000 after buying an additional 258 shares during the period. 87.92% of the stock is owned by institutional investors and hedge funds.

Olin Company Profile

(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

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Analyst Recommendations for Olin (NYSE:OLN)

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