Olin (NYSE:OLN) PT Lowered to $72.00 at Bank of America

Olin (NYSE:OLN) had its price objective lowered by Bank of America from $74.00 to $72.00 in a report released on Monday, Benzinga reports. The firm currently has a buy rating on the specialty chemicals company’s stock.

A number of other research analysts have also recently issued reports on the company. Royal Bank of Canada lifted their price objective on Olin from $64.00 to $69.00 and gave the company an outperform rating in a research note on Friday, April 19th. Wells Fargo & Company lifted their price target on Olin from $56.00 to $60.00 and gave the stock an equal weight rating in a research report on Wednesday, April 3rd. Citigroup raised their price objective on shares of Olin from $63.00 to $67.00 and gave the company a buy rating in a research note on Wednesday, April 10th. The Goldman Sachs Group upped their target price on shares of Olin from $55.00 to $61.00 and gave the stock a neutral rating in a research note on Tuesday, January 30th. Finally, Barclays raised their price target on shares of Olin from $57.00 to $59.00 and gave the company an equal weight rating in a research report on Thursday, April 4th. Two analysts have rated the stock with a sell rating, eight have issued a hold rating and six have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of Hold and an average price target of $60.00.

Olin Stock Performance

Shares of OLN stock 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’s fifty day moving average price is $55.67 and its 200-day moving average price is $51.73. The stock has a market cap of $6.22 billion, a PE ratio of 18.73, a price-to-earnings-growth 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.

Olin (NYSE:OLN) last announced its quarterly earnings data on Friday, April 26th. The specialty chemicals company reported $0.40 earnings per share for the quarter, topping analysts’ consensus estimates of $0.38 by $0.02. Olin had a net margin of 5.32% and a return on equity of 14.47%. The business had revenue of $1.64 billion for the quarter, compared to analysts’ expectations of $1.65 billion. During the same quarter in the prior year, the company earned $1.16 earnings per share. The business’s revenue was down 11.3% compared to the same quarter last year. On average, equities analysts expect that Olin will post 3.68 EPS for the current fiscal year.

Olin Dividend Announcement

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

Insider Activity

In related news, CEO Scott Mcdougald Sutton sold 15,000 shares of the firm’s stock in a transaction that occurred on Thursday, February 22nd. The shares were sold at an average price of $52.50, for a total value of $787,500.00. Following the transaction, the chief executive officer now owns 75,327 shares of the company’s stock, valued at $3,954,667.50. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Insiders sold 78,896 shares of company stock valued at $4,136,061 in the last quarter. 1.80% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Olin

Several institutional investors and hedge funds have recently bought and sold shares of the stock. SG Americas Securities LLC raised its stake in shares of Olin by 59.2% in the third quarter. SG Americas Securities LLC now owns 24,824 shares of the specialty chemicals company’s stock worth $1,241,000 after buying an additional 9,232 shares during the period. Xponance Inc. lifted its holdings in Olin by 3.0% during the third quarter. Xponance Inc. now owns 15,174 shares of the specialty chemicals company’s stock valued at $758,000 after purchasing an additional 444 shares in the last quarter. FinTrust Capital Advisors LLC boosted its position in shares of Olin by 651.4% in the third quarter. FinTrust Capital Advisors LLC now owns 37,569 shares of the specialty chemicals company’s stock worth $1,878,000 after purchasing an additional 32,569 shares during the period. Raymond James Financial Services Advisors Inc. increased its stake in shares of Olin by 209.4% in the third quarter. Raymond James Financial Services Advisors Inc. now owns 50,657 shares of the specialty chemicals company’s stock worth $2,532,000 after purchasing an additional 34,285 shares in the last quarter. Finally, Arnhold LLC raised its position in shares of Olin by 29.8% during the 3rd quarter. Arnhold LLC now owns 225,338 shares of the specialty chemicals company’s stock valued at $11,262,000 after purchasing an additional 51,768 shares during the period. 88.67% of the stock is currently owned by hedge funds and other institutional investors.

Olin Company Profile

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.