Olin (NYSE:OLN) Price Target Cut to $45.00 by Analysts at Barclays

Olin (NYSE:OLN) had its target price trimmed by Barclays from $49.00 to $45.00 in a report released on Monday, Benzinga reports. The firm currently has an equal weight rating on the specialty chemicals company’s stock.

OLN has been the subject of a number of other reports. KeyCorp cut their price objective on Olin from $57.00 to $56.00 and set an “overweight” rating for the company in a research note on Monday. BMO Capital Markets began coverage on shares of Olin in a research note on Tuesday, September 3rd. They issued a “market perform” rating and a $50.00 price objective for the company. JPMorgan Chase & Co. upgraded shares of Olin from a “neutral” rating to an “overweight” rating and set a $55.00 target price on the stock in a research note on Monday, July 29th. Piper Sandler decreased their price target on Olin from $75.00 to $57.00 and set an “overweight” rating on the stock in a report on Tuesday, July 30th. Finally, The Goldman Sachs Group dropped their price objective on Olin from $55.00 to $49.00 and set a “neutral” rating for the company in a research note on Monday, July 29th. Eight equities research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. According to data from MarketBeat, Olin has an average rating of “Hold” and a consensus price target of $51.86.

Olin Stock Performance

NYSE:OLN opened at $41.03 on Monday. The company has a debt-to-equity ratio of 1.32, a quick ratio of 0.82 and a current ratio of 1.40. The stock has a 50-day simple moving average of $44.67 and a two-hundred day simple moving average of $47.83. The firm has a market capitalization of $4.82 billion, a PE ratio of 33.18, a P/E/G ratio of 1.01 and a beta of 1.41. Olin has a 52-week low of $39.47 and a 52-week high of $60.60.

Olin Announces Dividend

The company 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 dividend of $0.20 per share. This represents a $0.80 annualized dividend and a yield of 1.95%. The ex-dividend date is Thursday, November 14th. Olin’s dividend payout ratio is presently 64.52%.

Institutional Trading of Olin

Hedge funds have recently modified their holdings of the company. LRI Investments LLC bought a new stake in Olin in the first quarter worth $28,000. Farther Finance Advisors LLC grew its stake in shares of Olin by 88.2% in the 3rd quarter. Farther Finance Advisors LLC now owns 589 shares of the specialty chemicals company’s stock worth $28,000 after buying an additional 276 shares in the last quarter. EverSource Wealth Advisors LLC increased its holdings in shares of Olin by 4,375.0% in the 1st quarter. EverSource Wealth Advisors LLC now owns 537 shares of the specialty chemicals company’s stock worth $32,000 after buying an additional 525 shares during the last quarter. nVerses Capital LLC purchased a new stake in shares of Olin during the 2nd quarter valued at about $33,000. Finally, Denver PWM LLC bought a new position in shares of Olin in the 2nd quarter valued at about $59,000. 88.67% of the stock is owned by hedge funds and other institutional investors.

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.