Olin (NYSE:OLN) Price Target Lowered to $73.00 at KeyCorp

Olin (NYSE:OLN) had its price objective lowered by KeyCorp from $78.00 to $73.00 in a research report report published on Monday morning, Benzinga reports. KeyCorp currently has an overweight rating on the specialty chemicals company’s stock.

OLN has been the topic of several other reports. Royal Bank of Canada increased their target price on Olin from $64.00 to $69.00 and gave the stock an outperform rating in a research report on Friday, April 19th. Stifel Nicolaus raised their price objective on Olin from $65.00 to $66.00 and gave the company a buy rating in a research report on Monday, January 29th. UBS Group raised their price objective on Olin from $56.00 to $58.00 and gave the company a neutral rating in a research report on Friday, January 26th. Citigroup raised their price objective on Olin from $63.00 to $67.00 and gave the company a buy rating in a research report on Wednesday, April 10th. Finally, Barclays raised their price objective on Olin from $57.00 to $59.00 and gave the company an equal weight rating in a research report on Thursday, April 4th. Two equities research analysts have rated the stock with a sell rating, eight have assigned a hold rating and six have assigned a buy rating to the stock. According to data from MarketBeat, the company has an average rating of Hold and a consensus target price of $60.00.

Olin Trading Down 0.4 %

Shares of OLN opened at $52.06 on Monday. The company has a current ratio of 1.38, a quick ratio of 0.80 and a debt-to-equity ratio of 1.22. The firm has a market capitalization of $6.22 billion, a P/E ratio of 18.73, a price-to-earnings-growth ratio of 0.30 and a beta of 1.44. The stock’s fifty day simple moving average is $55.67 and its 200 day simple moving average is $51.73. Olin has a twelve month low of $41.71 and a twelve month high of $60.60.

Olin (NYSE:OLN) last issued its earnings results on Friday, April 26th. The specialty chemicals company reported $0.40 earnings per share for the quarter, topping the consensus estimate of $0.38 by $0.02. The business had revenue of $1.64 billion for the quarter, compared to analyst estimates of $1.65 billion. Olin had a return on equity of 14.47% and a net margin of 5.32%. The business’s quarterly revenue was down 11.3% on a year-over-year basis. During the same period last year, the company posted $1.16 EPS. On average, equities research analysts forecast that Olin will post 3.68 earnings per share for the current year.

Olin Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, June 14th. Investors of record on Thursday, May 9th will be paid a $0.20 dividend. This represents a $0.80 annualized dividend and a dividend yield of 1.54%. The ex-dividend date of this dividend is Wednesday, May 8th. Olin’s dividend payout ratio (DPR) is 28.78%.

Insider Buying and Selling

In related news, CEO Scott Mcdougald Sutton sold 48,896 shares of the business’s stock in a transaction dated Tuesday, February 27th. The stock was sold at an average price of $52.39, for a total value of $2,561,661.44. Following the transaction, the chief executive officer now owns 90,327 shares in the company, valued at $4,732,231.53. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. In related news, CEO Scott Mcdougald Sutton sold 48,896 shares of the business’s stock in a transaction dated Tuesday, February 27th. The stock was sold at an average price of $52.39, for a total value of $2,561,661.44. Following the completion of the sale, the chief executive officer now directly owns 90,327 shares of the company’s stock, valued at $4,732,231.53. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, VP Brett A. Flaugher sold 15,000 shares of the business’s stock in a transaction dated Monday, February 26th. The shares were sold at an average price of $52.46, for a total value of $786,900.00. Following the completion of the sale, the vice president now directly owns 8,782 shares of the company’s stock, valued at $460,703.72. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 78,896 shares of company stock worth $4,136,061. 1.80% of the stock is currently owned by corporate insiders.

Institutional Trading of Olin

Several hedge funds and other institutional investors have recently bought and sold shares of OLN. Baystate Wealth Management LLC grew its holdings in shares of Olin by 154.6% during the third quarter. Baystate Wealth Management LLC now owns 494 shares of the specialty chemicals company’s stock valued at $25,000 after purchasing an additional 300 shares during the last quarter. Sandy Spring Bank grew its holdings in shares of Olin by 145.6% during the fourth quarter. Sandy Spring Bank now owns 614 shares of the specialty chemicals company’s stock valued at $33,000 after purchasing an additional 364 shares during the last quarter. Covestor Ltd grew its holdings in shares of Olin by 76.7% during the third quarter. Covestor Ltd now owns 659 shares of the specialty chemicals company’s stock valued at $33,000 after purchasing an additional 286 shares during the last quarter. Motco bought a new position in shares of Olin during the third quarter valued at approximately $40,000. Finally, Fifth Third Bancorp grew its holdings in shares of Olin by 30.0% during the first quarter. Fifth Third Bancorp now owns 858 shares of the specialty chemicals company’s stock valued at $50,000 after purchasing an additional 198 shares during the last quarter. 88.67% of the stock is owned by institutional investors.

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.