Olin (NYSE:OLN) Price Target Cut to $69.00 by Analysts at KeyCorp

Olin (NYSE:OLN) had its price target cut by KeyCorp from $73.00 to $69.00 in a research report sent to investors on Wednesday, Benzinga reports. They currently have an overweight rating on the specialty chemicals company’s stock.

A number of other equities research analysts also recently issued reports on the company. Bank of America decreased their price objective on Olin from $74.00 to $72.00 and set a buy rating on the stock in a research report on Monday, April 29th. UBS Group cut their target price on Olin from $59.00 to $51.00 and set a neutral rating on the stock in a research note on Tuesday. Citigroup upped their target price on Olin from $63.00 to $67.00 and gave the company a buy rating in a research note on Wednesday, April 10th. Barclays upped their target price on Olin from $57.00 to $59.00 and gave the company an equal weight rating in a research note on Thursday, April 4th. Finally, Piper Sandler upped their target price on Olin from $72.00 to $75.00 and gave the company an overweight rating in a research note on Monday, April 29th. Two research analysts have rated the stock with a sell rating, eight have assigned a hold rating and six have given a buy rating to the company. According to MarketBeat, the stock presently has an average rating of Hold and a consensus price target of $59.27.

Olin Price Performance

NYSE:OLN opened at $46.44 on Wednesday. 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 has a market capitalization of $5.55 billion, a P/E ratio of 16.71, a P/E/G ratio of 0.27 and a beta of 1.44. Olin has a 12 month low of $41.71 and a 12 month high of $60.60. The business’s 50-day moving average is $51.42 and its 200 day moving average is $53.18.

Olin (NYSE:OLN) last issued its quarterly earnings data on Friday, April 26th. The specialty chemicals company reported $0.40 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.38 by $0.02. Olin had a return on equity of 14.47% and a net margin of 5.32%. The business had revenue of $1.64 billion for the quarter, compared to the consensus estimate of $1.65 billion. During the same period in the prior year, the business posted $1.16 earnings per share. The company’s quarterly revenue was down 11.3% compared to the same quarter last year. On average, equities research analysts forecast that Olin will post 3.66 earnings per share for the current fiscal year.

Olin Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, June 14th. Shareholders of record on Thursday, May 9th were issued a dividend of $0.20 per share. The ex-dividend date of this dividend was Wednesday, May 8th. This represents a $0.80 dividend on an annualized basis and a yield of 1.72%. Olin’s dividend payout ratio is currently 28.78%.

Institutional Trading of Olin

Hedge funds have recently bought and sold shares of the stock. LRI Investments LLC purchased a new stake in Olin during the first quarter worth $28,000. EverSource Wealth Advisors LLC lifted its holdings in shares of Olin by 4,375.0% during the 1st quarter. EverSource Wealth Advisors LLC now owns 537 shares of the specialty chemicals company’s stock valued at $32,000 after purchasing an additional 525 shares during the last quarter. Sandy Spring Bank lifted its holdings in shares of Olin by 145.6% during the 4th quarter. Sandy Spring Bank now owns 614 shares of the specialty chemicals company’s stock valued at $33,000 after purchasing an additional 364 shares during the last quarter. Fifth Third Bancorp lifted its holdings in shares of Olin by 30.0% during the 1st quarter. Fifth Third Bancorp now owns 858 shares of the specialty chemicals company’s stock valued at $50,000 after purchasing an additional 198 shares during the last quarter. Finally, Quarry LP purchased a new stake in shares of Olin during the 4th quarter valued at $50,000. Hedge funds and other institutional investors 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.