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

Olin Co. (NYSE:OLN) has been given a consensus rating of “Hold” by the sixteen research firms that are presently covering the company, MarketBeat.com reports. One investment analyst has rated the stock with a sell recommendation, eleven have assigned a hold recommendation and four have assigned a buy recommendation to the company. The average 1 year price objective among brokers that have issued ratings on the stock in the last year is $38.38.

Several research analysts recently commented on the stock. BMO Capital Markets reduced their price objective on shares of Olin from $44.00 to $34.00 and set a “market perform” rating for the company in a research note on Wednesday, February 5th. Bank of America upgraded shares of Olin from a “neutral” rating to a “buy” rating and reduced their price objective for the stock from $48.00 to $40.00 in a research note on Tuesday, January 14th. Wells Fargo & Company reiterated an “equal weight” rating on shares of Olin in a research note on Monday, February 3rd. Morgan Stanley reduced their price objective on shares of Olin from $31.00 to $28.00 and set an “underweight” rating for the company in a research note on Tuesday, February 4th. Finally, Truist Financial cut their price target 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.

Olin Price Performance

Shares of OLN opened at $23.77 on Friday. The company has a 50 day moving average price of $28.98 and a 200-day moving average price of $37.53. Olin has a fifty-two week low of $22.98 and a fifty-two week high of $60.60. The stock has a market capitalization of $2.74 billion, a PE ratio of 26.41 and a beta of 1.61. The company has a debt-to-equity ratio of 1.32, a quick ratio of 0.77 and a current ratio of 1.27.

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

Olin Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, March 14th. Stockholders of record on Thursday, March 6th will be paid a $0.20 dividend. The ex-dividend date is Thursday, March 6th. This represents a $0.80 dividend on an annualized basis and a dividend yield of 3.37%. Olin’s payout ratio is currently 88.89%.

Olin announced that its board has authorized a share buyback program 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 reacquire up to 45% of its stock through open market purchases. Stock repurchase programs are typically a sign that the company’s board of directors believes its shares are undervalued.

Insider Transactions at Olin

In other news, CEO Kenneth Todd Lane purchased 7,250 shares of the stock in a transaction that occurred on Tuesday, February 4th. The shares were purchased at an average cost of $28.06 per share, with a total value of $203,435.00. Following the completion of the acquisition, the chief executive officer now owns 7,250 shares of the company’s stock, valued at approximately $203,435. This represents a ∞ increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 1.60% of the company’s stock.

Institutional Trading of Olin

A number of hedge funds have recently added to or reduced their stakes in OLN. Farther Finance Advisors LLC boosted its holdings in Olin by 88.2% during the third 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. Covestor Ltd boosted its holdings in Olin by 357.5% during the third quarter. Covestor Ltd now owns 915 shares of the specialty chemicals company’s stock worth $44,000 after buying an additional 715 shares in the last quarter. State of New Jersey Common Pension Fund D boosted its holdings in Olin by 16.9% during the third quarter. State of New Jersey Common Pension Fund D now owns 44,695 shares of the specialty chemicals company’s stock worth $2,144,000 after buying an additional 6,466 shares in the last quarter. Entropy Technologies LP lifted its holdings in Olin by 2.5% during the third quarter. Entropy Technologies LP now owns 13,499 shares of the specialty chemicals company’s stock valued at $648,000 after purchasing an additional 332 shares in the last quarter. Finally, Connable Office Inc. lifted its holdings in Olin by 22.9% during the third quarter. Connable Office Inc. now owns 5,680 shares of the specialty chemicals company’s stock valued at $273,000 after purchasing an additional 1,057 shares in the last quarter. 88.67% of the stock is owned by hedge funds and other institutional investors.

Olin Company Profile

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.