Olin (NYSE:OLN) Given New $28.00 Price Target at Barclays

Olin (NYSE:OLN) had its price target reduced by Barclays from $34.00 to $28.00 in a research report report published on Tuesday morning,Benzinga reports. They currently have an equal weight rating on the specialty chemicals company’s stock.

Several other analysts have also recently issued reports on OLN. Truist Financial lowered their target price on shares of Olin from $38.00 to $32.00 and set a “hold” rating on the stock in a research note on Monday, February 3rd. Morgan Stanley cut their target price on Olin from $31.00 to $28.00 and set an “underweight” rating for the company in a research note on Tuesday, February 4th. KeyCorp cut their price target on shares of Olin from $50.00 to $40.00 and set an “overweight” rating for the company in a research report on Monday, February 3rd. BMO Capital Markets cut their target price on shares of Olin from $44.00 to $34.00 and set a “market perform” rating on the stock in a report on Wednesday, February 5th. Finally, UBS Group set a $28.00 target price on Olin in a research note on Thursday, February 27th. One equities research analyst has rated the stock with a sell rating, eleven have issued a hold rating and four have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus price target of $36.69.

Olin Price Performance

Olin stock opened at $23.77 on Tuesday. Olin has a 12 month low of $22.98 and a 12 month high of $60.60. The company has a current ratio of 1.27, a quick ratio of 0.77 and a debt-to-equity ratio of 1.32. The business’s 50 day simple moving average is $26.93 and its 200 day simple moving average is $35.84. The company has a market cap of $2.74 billion, a price-to-earnings ratio of 26.42 and a beta of 1.61.

Olin (NYSE:OLN) last announced its quarterly earnings results on Thursday, January 30th. The specialty chemicals company reported $0.09 EPS for the quarter, beating analysts’ consensus estimates of ($0.01) by $0.10. Olin had a net margin of 1.66% and a return on equity of 5.10%. Sell-side analysts forecast that Olin will post 1.38 EPS for the current year.

Olin Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, March 14th. Investors of record on Thursday, March 6th were given a dividend of $0.20 per share. This represents a $0.80 dividend on an annualized basis and a yield of 3.37%. The ex-dividend date was Thursday, March 6th. Olin’s dividend payout ratio (DPR) is presently 88.89%.

Olin announced that its board has authorized a share repurchase plan on Thursday, December 12th that permits the company to buyback $2.00 billion in shares. This buyback authorization permits the specialty chemicals company to purchase up to 45% of its stock through open market purchases. Stock buyback plans are often an indication that the company’s board believes its shares are undervalued.

Insiders Place Their Bets

In other Olin news, CEO Kenneth Todd Lane bought 7,250 shares of the firm’s stock in a transaction on Tuesday, February 4th. The stock was acquired at an average price of $28.06 per share, with a total value of $203,435.00. Following the transaction, the chief executive officer now owns 7,250 shares in the company, valued at $203,435. This represents a ∞ increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which is accessible through this link. Corporate insiders own 1.60% of the company’s stock.

Institutional Investors Weigh In On Olin

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Covestor Ltd increased its position in shares of Olin by 45.8% during the 4th quarter. Covestor Ltd now owns 1,334 shares of the specialty chemicals company’s stock valued at $45,000 after purchasing an additional 419 shares during the last quarter. Spire Wealth Management grew its holdings in Olin by 246.8% during the 4th quarter. Spire Wealth Management now owns 1,616 shares of the specialty chemicals company’s stock valued at $55,000 after buying an additional 1,150 shares in the last quarter. CoreFirst Bank & Trust purchased a new position in Olin during the fourth quarter valued at $66,000. Jones Financial Companies Lllp increased its holdings in shares of Olin by 59.9% in the fourth quarter. Jones Financial Companies Lllp now owns 2,431 shares of the specialty chemicals company’s stock worth $82,000 after purchasing an additional 911 shares during the last quarter. Finally, Blue Trust Inc. boosted its position in shares of Olin by 34.3% during the 4th quarter. Blue Trust Inc. now owns 2,887 shares of the specialty chemicals company’s stock valued at $98,000 after acquiring an additional 738 shares during the last quarter. 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.