Olin Co. (NYSE:OLN) Receives Average Recommendation of “Hold” from Analysts

Shares of Olin Co. (NYSE:OLN) have been given a consensus rating of “Hold” by the fourteen brokerages that are presently covering the stock, Marketbeat reports. Eight investment analysts have rated the stock with a hold recommendation and six have assigned a buy recommendation to the company. The average 12 month price target among analysts that have issued a report on the stock in the last year is $51.86.

OLN has been the topic of a number of recent research reports. Barclays cut their price target on Olin from $49.00 to $45.00 and set an “equal weight” rating on the stock in a research note on Monday, October 28th. KeyCorp cut their target price on shares of Olin from $57.00 to $56.00 and set an “overweight” rating on the stock in a research report on Monday, October 28th. Wells Fargo & Company decreased their price target on shares of Olin from $48.00 to $44.00 and set an “equal weight” rating for the company in a research report on Monday, October 28th. BMO Capital Markets cut their price target on shares of Olin from $50.00 to $47.00 and set a “market perform” rating on the stock in a report on Tuesday, October 29th. Finally, Piper Sandler decreased their price objective on Olin from $57.00 to $51.00 and set an “overweight” rating for the company in a report on Wednesday, October 30th.

Olin Stock Up 0.6 %

Shares of NYSE:OLN opened at $41.27 on Wednesday. The company has a debt-to-equity ratio of 1.32, a quick ratio of 0.82 and a current ratio of 1.40. Olin has a 52-week low of $39.47 and a 52-week high of $60.60. The company has a market capitalization of $4.81 billion, a PE ratio of 33.28, a price-to-earnings-growth ratio of 1.69 and a beta of 1.43. The company has a fifty day moving average of $43.94 and a 200-day moving average of $45.47.

Olin Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, December 13th. Shareholders of record on Thursday, November 14th will be issued a $0.20 dividend. This represents a $0.80 dividend on an annualized basis and a yield of 1.94%. The ex-dividend date is Thursday, November 14th. Olin’s payout ratio is 64.52%.

Insider Activity at Olin

In other news, VP R Nichole Sumner sold 10,500 shares of the business’s stock in a transaction dated Friday, November 8th. The shares were sold at an average price of $43.75, for a total transaction of $459,375.00. Following the completion of the sale, the vice president now directly owns 24,056 shares of the company’s stock, valued at $1,052,450. The trade was a 30.39 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. 1.60% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Olin

Hedge funds have recently added to or reduced their stakes in the stock. Franklin Resources Inc. lifted its holdings in shares of Olin by 19.2% in the third quarter. Franklin Resources Inc. now owns 1,073,087 shares of the specialty chemicals company’s stock valued at $51,015,000 after purchasing an additional 172,768 shares in the last quarter. Synovus Financial Corp purchased a new stake in Olin in the 3rd quarter valued at $253,000. Wilmington Savings Fund Society FSB bought a new position in Olin during the 3rd quarter valued at $256,000. First Sabrepoint Capital Management LP purchased a new position in Olin during the 3rd quarter worth $5,278,000. Finally, Barclays PLC grew its stake in shares of Olin by 37.7% in the 3rd quarter. Barclays PLC now owns 125,913 shares of the specialty chemicals company’s stock worth $6,042,000 after acquiring an additional 34,485 shares in the last quarter. Institutional investors and hedge funds own 88.67% of the company’s stock.

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.