Olin Co. (NYSE:OLN) Receives $51.86 Consensus Target Price from Analysts

Olin Co. (NYSE:OLN) has earned a consensus rating of “Hold” from the fourteen research firms that are presently covering the stock, MarketBeat reports. Eight analysts have rated the stock with a hold recommendation and six have issued a buy recommendation on the company. The average 1 year target price among brokers that have covered the stock in the last year is $51.86.

Several analysts have recently issued reports on the company. Wells Fargo & Company reduced their price objective on Olin from $48.00 to $44.00 and set an “equal weight” rating on the stock in a research note on Monday, October 28th. BMO Capital Markets cut their price target on Olin from $50.00 to $47.00 and set a “market perform” rating on the stock in a research note on Tuesday, October 29th. KeyCorp cut their price target on Olin from $57.00 to $56.00 and set an “overweight” rating on the stock in a research note on Monday, October 28th. 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. Finally, Royal Bank of Canada cut their price target on Olin from $52.00 to $48.00 and set an “outperform” rating on the stock in a research note on Tuesday, October 29th.

Olin Stock Up 0.6 %

Shares of NYSE OLN opened at $41.27 on Wednesday. The stock has a market cap of $4.81 billion, a P/E ratio of 33.28, a PEG ratio of 1.72 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. Olin has a 12-month low of $39.47 and a 12-month high of $60.60. The business’s fifty day simple moving average is $43.94 and its 200-day simple moving average is $45.60.

Olin Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, December 13th. Shareholders 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%.

Insiders Place Their Bets

In related news, VP R Nichole Sumner sold 10,500 shares of the firm’s stock in a transaction dated Friday, November 8th. The stock was sold at an average price of $43.75, for a total transaction of $459,375.00. Following the transaction, the vice president now owns 24,056 shares of the company’s stock, valued at $1,052,450. This trade represents a 30.39 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. Corporate insiders own 1.60% of the company’s stock.

Hedge Funds Weigh In On Olin

A number of hedge funds and other institutional investors have recently made changes to their positions in OLN. Pzena Investment Management LLC grew its holdings in shares of Olin by 24.8% during the third quarter. Pzena Investment Management LLC now owns 3,452,708 shares of the specialty chemicals company’s stock worth $165,661,000 after buying an additional 685,710 shares during the last quarter. Hotchkis & Wiley Capital Management LLC lifted its position in Olin by 6.4% in the third quarter. Hotchkis & Wiley Capital Management LLC now owns 8,838,988 shares of the specialty chemicals company’s stock valued at $424,095,000 after purchasing an additional 531,330 shares during the period. AQR Capital Management LLC lifted its position in Olin by 429.8% in the second quarter. AQR Capital Management LLC now owns 610,153 shares of the specialty chemicals company’s stock valued at $28,769,000 after purchasing an additional 494,976 shares during the period. Verition Fund Management LLC lifted its position in Olin by 70.9% in the third quarter. Verition Fund Management LLC now owns 544,814 shares of the specialty chemicals company’s stock valued at $26,140,000 after purchasing an additional 225,930 shares during the period. Finally, Dimensional Fund Advisors LP lifted its position in Olin by 5.5% in the second quarter. Dimensional Fund Advisors LP now owns 3,741,007 shares of the specialty chemicals company’s stock valued at $176,396,000 after purchasing an additional 194,755 shares during the period. Hedge funds and other institutional investors own 88.67% of the company’s stock.

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.