Olin (NYSE:OLN) PT Raised to $69.00

Olin (NYSE:OLN) had its target price lifted by Stifel Nicolaus from $68.00 to $69.00 in a research note released on Monday morning, Benzinga reports. They currently have a buy rating on the specialty chemicals company’s stock.

Other research analysts have also recently issued reports about the stock. KeyCorp lowered their price target on shares of Olin from $78.00 to $73.00 and set an overweight rating on the stock in a report on Monday. UBS Group lifted their price target on Olin from $56.00 to $58.00 and gave the stock a neutral rating in a report on Friday, January 26th. The Goldman Sachs Group upped their price objective on Olin from $55.00 to $61.00 and gave the company a neutral rating in a report on Tuesday, January 30th. Citigroup lifted their target price on Olin from $63.00 to $67.00 and gave the stock a buy rating in a report on Wednesday, April 10th. Finally, Bank of America decreased their price target on shares of Olin from $74.00 to $72.00 and set a buy rating on the stock in a research note on Monday. Two equities research analysts have rated the stock with a sell rating, eight have issued a hold rating and six have assigned a buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of Hold and a consensus target price of $60.00.

Olin Stock Performance

Shares of NYSE 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 company has a market capitalization of $6.22 billion, a P/E ratio of 18.73, a P/E/G ratio of 0.30 and a beta of 1.44. Olin has a 12 month low of $41.71 and a 12 month high of $60.60. The stock has a 50 day moving average of $55.67 and a 200-day moving average of $51.73.

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

Olin Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, June 14th. Shareholders of record on Thursday, May 9th will be given a dividend of $0.20 per share. The ex-dividend date is Wednesday, May 8th. This represents a $0.80 annualized dividend and a yield of 1.54%. Olin’s dividend payout ratio is currently 28.78%.

Insider Buying and Selling at Olin

In other news, CEO Scott Mcdougald Sutton sold 15,000 shares of the business’s stock in a transaction on Thursday, February 22nd. The stock was sold at an average price of $52.50, for a total transaction of $787,500.00. Following the completion of the transaction, the chief executive officer now owns 75,327 shares of the company’s stock, valued at approximately $3,954,667.50. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. In the last quarter, insiders have sold 78,896 shares of company stock valued at $4,136,061. 1.80% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Olin

Several hedge funds and other institutional investors have recently made changes to their positions in the stock. South Dakota Investment Council grew its stake in shares of Olin by 279.8% during the fourth quarter. South Dakota Investment Council now owns 60,392 shares of the specialty chemicals company’s stock worth $3,258,000 after buying an additional 44,492 shares during the last quarter. Quantbot Technologies LP boosted its holdings in shares of Olin by 153.2% during the 3rd quarter. Quantbot Technologies LP now owns 24,674 shares of the specialty chemicals company’s stock valued at $1,233,000 after acquiring an additional 14,928 shares in the last quarter. Coombe Bender & Co LLC grew its position in Olin by 20.8% during the 3rd quarter. Coombe Bender & Co LLC now owns 90,977 shares of the specialty chemicals company’s stock worth $4,547,000 after acquiring an additional 15,645 shares during the last quarter. AdvisorShares Investments LLC acquired a new position in Olin in the 3rd quarter worth about $361,000. Finally, Cerity Partners LLC bought a new position in Olin in the fourth quarter valued at about $2,613,000. 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.