Olin (NYSE:OLN) Price Target Lowered to $62.00 at KeyCorp

Olin (NYSE:OLN) had its price target cut by KeyCorp from $69.00 to $62.00 in a research note issued to investors on Monday morning, Benzinga reports. They currently have an overweight rating on the specialty chemicals company’s stock.

Several other research firms have also weighed in on OLN. Barclays raised their price objective on shares of Olin from $57.00 to $59.00 and gave the stock an equal weight rating in a report on Thursday, April 4th. Wells Fargo & Company lifted their price target on shares of Olin from $56.00 to $60.00 and gave the stock an equal weight rating in a research report on Wednesday, April 3rd. Citigroup raised their price objective on shares of Olin from $63.00 to $67.00 and gave the stock a buy rating in a report on Wednesday, April 10th. Bank of America dropped their price objective on shares of Olin from $74.00 to $72.00 and set a buy rating on the stock in a report on Monday, April 29th. Finally, Royal Bank of Canada lowered their price target on shares of Olin from $69.00 to $63.00 and set an outperform rating on the stock in a research note on Monday, April 29th. One equities research analyst has rated the stock with a sell rating, eight have issued a hold rating and six have issued a buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of Hold and a consensus target price of $53.86.

Olin Trading Down 2.5 %

Shares of NYSE:OLN opened at $44.45 on Monday. The company has a current ratio of 1.43, a quick ratio of 0.82 and a debt-to-equity ratio of 1.29. The firm has a fifty day moving average price of $48.86 and a 200 day moving average price of $52.52. Olin has a 1 year low of $41.71 and a 1 year high of $60.60. The stock has a market capitalization of $5.22 billion, a PE ratio of 15.99, a P/E/G ratio of 0.58 and a beta of 1.44.

Olin (NYSE:OLN) last posted its quarterly earnings results on Thursday, July 25th. The specialty chemicals company reported $0.62 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.70 by ($0.08). Olin had a return on equity of 11.73% and a net margin of 4.26%. The business had revenue of $1.64 billion during the quarter, compared to analyst estimates of $1.71 billion. During the same period last year, the company earned $1.13 EPS. The business’s revenue for the quarter was down 3.5% on a year-over-year basis. Analysts expect that Olin will post 2.73 EPS for the current fiscal year.

Olin Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, September 13th. Investors of record on Thursday, August 8th will be issued a dividend of $0.20 per share. This represents a $0.80 annualized dividend and a dividend yield of 1.80%. The ex-dividend date is Thursday, August 8th. Olin’s payout ratio is 28.78%.

Institutional Trading of Olin

A number of institutional investors and hedge funds have recently made changes to their positions in the company. Hotchkis & Wiley Capital Management LLC raised its stake in shares of Olin by 3.2% during the fourth quarter. Hotchkis & Wiley Capital Management LLC now owns 6,602,331 shares of the specialty chemicals company’s stock valued at $356,196,000 after acquiring an additional 203,260 shares during the last quarter. Boston Partners grew its holdings in shares of Olin by 7.7% during the first quarter. Boston Partners now owns 5,414,265 shares of the specialty chemicals company’s stock valued at $317,897,000 after buying an additional 384,888 shares during the last quarter. Dimensional Fund Advisors LP grew its holdings in shares of Olin by 3.6% during the fourth quarter. Dimensional Fund Advisors LP now owns 3,635,983 shares of the specialty chemicals company’s stock valued at $196,167,000 after buying an additional 126,587 shares during the last quarter. Balyasny Asset Management L.P. boosted its holdings in Olin by 218.6% during the fourth quarter. Balyasny Asset Management L.P. now owns 1,649,273 shares of the specialty chemicals company’s stock worth $88,978,000 after purchasing an additional 1,131,674 shares during the last quarter. Finally, Norges Bank purchased a new position in Olin during the fourth quarter worth about $76,125,000. Institutional investors own 88.67% of the company’s stock.

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.