Olin Co. (NYSE:OLN) Receives $51.86 Average Price Target from Brokerages

Olin Co. (NYSE:OLN) has earned an average recommendation of “Hold” from the fourteen research firms that are currently covering the company, MarketBeat reports. Eight investment analysts have rated the stock with a hold recommendation and six have given a buy recommendation to the company. The average 12-month target price among analysts that have updated their coverage on the stock in the last year is $51.86.

Several equities analysts recently weighed in on OLN shares. Piper Sandler reduced their price target on shares of Olin from $57.00 to $51.00 and set an “overweight” rating for the company in a research report on Wednesday, October 30th. Royal Bank of Canada reduced their target price on shares of Olin from $52.00 to $48.00 and set an “outperform” rating for the company in a research report on Tuesday, October 29th. KeyCorp dropped their price objective on Olin from $57.00 to $56.00 and set an “overweight” rating on the stock in a research note on Monday, October 28th. BMO Capital Markets decreased their target price on Olin from $50.00 to $47.00 and set a “market perform” rating for the company in a research report on Tuesday, October 29th. Finally, Wells Fargo & Company dropped their price target on Olin from $48.00 to $44.00 and set an “equal weight” rating on the stock in a research report on Monday, October 28th.

Insider Buying and Selling

In other Olin news, VP R Nichole Sumner sold 10,500 shares of Olin stock in a transaction that occurred on Friday, November 8th. The stock was sold at an average price of $43.75, for a total value of $459,375.00. Following the transaction, 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 position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 1.60% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the company. SG Americas Securities LLC grew its holdings in Olin by 1,220.6% in the 2nd quarter. SG Americas Securities LLC now owns 50,050 shares of the specialty chemicals company’s stock worth $2,360,000 after acquiring an additional 46,260 shares during the last quarter. Segall Bryant & Hamill LLC purchased a new position in Olin during the 3rd quarter valued at about $916,000. Charles Schwab Investment Management Inc. raised its position in Olin by 2.9% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 1,295,699 shares of the specialty chemicals company’s stock valued at $62,168,000 after purchasing an additional 37,043 shares during the last quarter. Magnetar Financial LLC purchased a new stake in Olin in the 2nd quarter worth approximately $2,350,000. Finally, Canada Pension Plan Investment Board grew its position in shares of Olin by 846.7% in the 2nd quarter. Canada Pension Plan Investment Board now owns 14,200 shares of the specialty chemicals company’s stock worth $670,000 after buying an additional 12,700 shares during the last quarter. Institutional investors own 88.67% of the company’s stock.

Olin Stock Up 0.6 %

OLN stock opened at $41.27 on Wednesday. The stock has a market cap of $4.81 billion, a P/E ratio of 33.28, a P/E/G ratio of 1.69 and a beta of 1.43. The company has a current ratio of 1.40, a quick ratio of 0.82 and a debt-to-equity ratio of 1.32. The stock’s fifty day simple moving average is $43.94 and its two-hundred day simple moving average is $45.47. Olin has a 1-year low of $39.47 and a 1-year high of $60.60.

Olin Dividend Announcement

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

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.