Analysts Set Olin Co. (NYSE:OLN) PT at $43.71

Olin Co. (NYSE:OLN) has been given an average rating of “Buy” by the seventeen ratings firms that are currently covering the stock, Marketbeat.com reports. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating and nine have given a buy rating to the company. The average 1-year price objective among brokerages that have issued a report on the stock in the last year is $43.71.

OLN has been the subject of several recent analyst reports. Royal Bank of Canada lifted their price target on Olin from $56.00 to $63.00 and gave the company an “outperform” rating in a report on Thursday, April 29th. Wells Fargo & Company lifted their price target on Olin from $50.00 to $55.00 and gave the company an “overweight” rating in a report on Thursday, April 29th. Vertical Research upgraded Olin from a “hold” rating to a “buy” rating and set a $53.00 price target for the company in a report on Monday, May 24th. Wolfe Research started coverage on Olin in a research note on Wednesday. They issued an “outperform” rating on the stock. Finally, Tudor Pickering raised Olin from a “hold” rating to a “buy” rating and set a $47.00 price objective on the stock in a research note on Thursday, March 18th.

In other Olin news, EVP Pat D. Dawson sold 100,000 shares of the company’s stock in a transaction that occurred on Tuesday, May 4th. The stock was sold at an average price of $44.86, for a total value of $4,486,000.00. Following the transaction, the executive vice president now directly owns 102,734 shares of the company’s stock, valued at approximately $4,608,647.24. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, VP Teresa M. Vermillion sold 8,000 shares of the company’s stock in a transaction that occurred on Tuesday, May 25th. The shares were sold at an average price of $48.64, for a total value of $389,120.00. Following the completion of the transaction, the vice president now directly owns 15,431 shares in the company, valued at $750,563.84. The disclosure for this sale can be found here. Insiders have sold a total of 321,100 shares of company stock worth $14,876,654 over the last three months. 11.90% of the stock is currently owned by corporate insiders.

Institutional investors and hedge funds have recently made changes to their positions in the business. Rosenberg Matthew Hamilton raised its position in shares of Olin by 117.2% in the 1st quarter. Rosenberg Matthew Hamilton now owns 656 shares of the specialty chemicals company’s stock valued at $25,000 after purchasing an additional 354 shares in the last quarter. Total Clarity Wealth Management Inc. acquired a new position in shares of Olin in the 1st quarter valued at approximately $27,000. Eaton Vance Management acquired a new position in shares of Olin in the 1st quarter valued at approximately $35,000. Lazard Asset Management LLC acquired a new position in shares of Olin in the 1st quarter valued at approximately $37,000. Finally, Harvest Fund Management Co. Ltd acquired a new position in shares of Olin in the 1st quarter valued at approximately $43,000. 84.33% of the stock is currently owned by institutional investors.

OLN opened at $48.25 on Tuesday. The company has a quick ratio of 1.09, a current ratio of 1.65 and a debt-to-equity ratio of 2.18. The stock has a market cap of $7.69 billion, a PE ratio of -11.68 and a beta of 1.32. The company has a 50-day simple moving average of $44.59. Olin has a 12 month low of $9.67 and a 12 month high of $51.04.

Olin (NYSE:OLN) last posted its quarterly earnings results on Monday, April 26th. The specialty chemicals company reported $1.54 EPS for the quarter, beating the consensus estimate of $1.34 by $0.20. The company had revenue of $1.92 billion during the quarter, compared to analysts’ expectations of $1.89 billion. Olin had a positive return on equity of 5.74% and a negative net margin of 10.34%. Equities research analysts predict that Olin will post 5.04 EPS for the current year.

The business also recently declared a quarterly dividend, which was paid on Thursday, June 10th. Investors of record on Monday, May 10th were given a dividend of $0.20 per share. This represents a $0.80 annualized dividend and a yield of 1.66%. The ex-dividend date was Friday, May 7th. Olin’s dividend payout ratio (DPR) is presently -59.26%.

Olin Company Profile

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, trichloroethylene, hydrochloric acid, hydrogen, bleach products, potassium hydroxide, chlorinated organics intermediates and solvents, and sodium hypochlorite.

Further Reading: Special Dividends

Analyst Recommendations for Olin (NYSE:OLN)

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