Olin Co. (NYSE:OLN) Given Consensus Rating of “Hold” by Analysts

Shares of Olin Co. (NYSE:OLN) have been assigned an average recommendation of “Hold” from the fourteen research firms that are currently covering the firm, Marketbeat.com reports. Eight research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. The average 12-month target price among analysts that have updated their coverage on the stock in the last year is $50.14.

A number of equities research analysts have commented on the company. Royal Bank of Canada reduced their price objective on Olin from $52.00 to $48.00 and set an “outperform” rating for the company in a research note on Tuesday, October 29th. BMO Capital Markets reduced their price target on shares of Olin from $50.00 to $47.00 and set a “market perform” rating for the company in a research report on Tuesday, October 29th. Barclays lowered their price objective on shares of Olin from $45.00 to $43.00 and set an “equal weight” rating on the stock in a report on Friday, December 13th. Wells Fargo & Company reduced their price objective on shares of Olin from $48.00 to $44.00 and set an “equal weight” rating for the company in a report on Monday, October 28th. Finally, Piper Sandler lowered their target price on shares of Olin from $57.00 to $51.00 and set an “overweight” rating on the stock in a report on Wednesday, October 30th.

Insider Activity

In other Olin news, VP R Nichole Sumner sold 10,500 shares of the business’s stock in a transaction 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 sale, the vice president now directly owns 24,056 shares in the company, valued at $1,052,450. The trade was a 30.39 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Insiders own 1.80% of the company’s stock.

Institutional Investors Weigh In On Olin

Several large investors have recently added to or reduced their stakes in OLN. Farther Finance Advisors LLC grew its position in Olin by 88.2% during the third quarter. Farther Finance Advisors LLC now owns 589 shares of the specialty chemicals company’s stock valued at $28,000 after acquiring an additional 276 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. grew its holdings in shares of Olin by 26.2% during the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 1,534 shares of the specialty chemicals company’s stock valued at $75,000 after purchasing an additional 318 shares during the last quarter. Entropy Technologies LP raised its position in Olin by 2.5% in the 3rd quarter. Entropy Technologies LP now owns 13,499 shares of the specialty chemicals company’s stock worth $648,000 after purchasing an additional 332 shares during the period. Nisa Investment Advisors LLC lifted its stake in Olin by 3.0% in the third quarter. Nisa Investment Advisors LLC now owns 11,830 shares of the specialty chemicals company’s stock worth $568,000 after purchasing an additional 350 shares during the last quarter. Finally, Captrust Financial Advisors lifted its stake in Olin by 14.4% in the third quarter. Captrust Financial Advisors now owns 4,998 shares of the specialty chemicals company’s stock worth $240,000 after purchasing an additional 630 shares during the last quarter. Hedge funds and other institutional investors own 88.67% of the company’s stock.

Olin Stock Up 0.9 %

Shares of Olin stock opened at $33.77 on Friday. The business has a 50-day moving average price of $40.44 and a 200 day moving average price of $43.78. The company has a quick ratio of 0.82, a current ratio of 1.40 and a debt-to-equity ratio of 1.32. Olin has a fifty-two week low of $32.90 and a fifty-two week high of $60.60. The firm has a market cap of $3.94 billion, a P/E ratio of 27.23, a P/E/G ratio of 1.51 and a beta of 1.43.

Olin announced that its board has initiated a share repurchase program on Thursday, December 12th that authorizes the company to buyback $2.00 billion in shares. This buyback authorization authorizes the specialty chemicals company to reacquire up to 45% of its stock through open market purchases. Stock buyback programs are usually a sign that the company’s board believes its stock is undervalued.

Olin Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, December 13th. Investors of record on Thursday, November 14th were issued a dividend of $0.20 per share. The ex-dividend date of this dividend was Thursday, November 14th. This represents a $0.80 dividend on an annualized basis and a yield of 2.37%. Olin’s dividend payout ratio (DPR) is currently 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.