Olin (NYSE:OLN) Price Target Cut to $25.00 by Analysts at Wells Fargo & Company

Olin (NYSE:OLN) had its price target reduced by Wells Fargo & Company from $31.00 to $25.00 in a research report released on Tuesday morning,Benzinga reports. They currently have an equal weight rating on the specialty chemicals company’s stock.

Several other analysts have also weighed in on the stock. Truist Financial dropped their price objective on shares of Olin from $38.00 to $32.00 and set a “hold” rating for the company in a report on Monday, February 3rd. Bank of America raised Olin from a “neutral” rating to a “buy” rating and dropped their price target for the company from $48.00 to $40.00 in a report on Tuesday, January 14th. JPMorgan Chase & Co. downgraded Olin from an “overweight” rating to a “neutral” rating and cut their price objective for the company from $50.00 to $28.00 in a research report on Thursday, February 27th. KeyCorp decreased their target price on Olin from $50.00 to $40.00 and set an “overweight” rating on the stock in a report on Monday, February 3rd. Finally, Royal Bank of Canada cut Olin from an “outperform” rating to a “sector perform” rating and cut their price target for the company from $45.00 to $30.00 in a report on Tuesday, February 4th. One research analyst has rated the stock with a sell rating, eleven have given a hold rating and four have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus price target of $36.69.

Olin Price Performance

Olin stock opened at $23.77 on Tuesday. The business has a 50 day simple moving average of $26.93 and a 200 day simple moving average of $35.84. The company has a debt-to-equity ratio of 1.32, a current ratio of 1.27 and a quick ratio of 0.77. The company has a market capitalization of $2.74 billion, a PE ratio of 26.42 and a beta of 1.61. Olin has a one year low of $22.98 and a one year high of $60.60.

Olin (NYSE:OLN) last released its quarterly earnings data on Thursday, January 30th. The specialty chemicals company reported $0.09 earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.01) by $0.10. Olin had a return on equity of 5.10% and a net margin of 1.66%. On average, sell-side analysts forecast that Olin will post 1.38 EPS for the current fiscal year.

Olin declared that its Board of Directors has initiated a share repurchase plan on Thursday, December 12th that allows the company to repurchase $2.00 billion in outstanding shares. This repurchase authorization allows the specialty chemicals company to purchase up to 45% of its shares through open market purchases. Shares repurchase plans are usually an indication that the company’s board believes its shares are undervalued.

Olin Announces Dividend

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

Insider Buying and Selling at Olin

In related news, CEO Kenneth Todd Lane bought 7,250 shares of Olin stock in a transaction on Tuesday, February 4th. The shares were purchased at an average price of $28.06 per share, for a total transaction of $203,435.00. Following the completion of the acquisition, the chief executive officer now owns 7,250 shares in the company, valued at approximately $203,435. This represents a ∞ increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Insiders own 1.60% of the company’s stock.

Institutional Trading of Olin

A number of institutional investors and hedge funds have recently modified their holdings of the stock. Captrust Financial Advisors raised its stake in Olin by 14.4% during the 3rd quarter. Captrust Financial Advisors now owns 4,998 shares of the specialty chemicals company’s stock worth $240,000 after buying an additional 630 shares during the period. Point72 Asia Singapore Pte. Ltd. increased its holdings in shares of Olin by 22.5% in the third quarter. Point72 Asia Singapore Pte. Ltd. now owns 8,676 shares of the specialty chemicals company’s stock worth $416,000 after acquiring an additional 1,594 shares in the last quarter. Paloma Partners Management Co acquired a new stake in shares of Olin during the third quarter worth about $330,000. Holocene Advisors LP lifted its holdings in shares of Olin by 504.9% during the 3rd quarter. Holocene Advisors LP now owns 167,186 shares of the specialty chemicals company’s stock valued at $8,022,000 after purchasing an additional 139,549 shares in the last quarter. Finally, Hotchkis & Wiley Capital Management LLC lifted its holdings in shares of Olin by 6.4% during the 3rd 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 in the last quarter. 88.67% of the stock is owned by 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.