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

Shares of Olin Co. (NYSE:OLN) have been given a consensus recommendation of “Hold” by the fourteen research firms that are currently covering the firm, MarketBeat Ratings reports. One investment analyst has rated the stock with a sell rating, seven have given a hold rating and six have given a buy rating to the company. The average twelve-month price objective among brokerages that have issued ratings on the stock in the last year is $53.86.

A number of research analysts recently weighed in on OLN shares. JPMorgan Chase & Co. upgraded shares of Olin from a “neutral” rating to an “overweight” rating and set a $55.00 price objective for the company in a report on Monday, July 29th. Royal Bank of Canada reduced their price objective on Olin from $61.00 to $52.00 and set an “outperform” rating on the stock in a research note on Monday, July 29th. The Goldman Sachs Group lowered their target price on Olin from $55.00 to $49.00 and set a “neutral” rating for the company in a research note on Monday, July 29th. Wells Fargo & Company reduced their price target on Olin from $50.00 to $48.00 and set an “equal weight” rating on the stock in a research report on Monday, July 29th. Finally, UBS Group cut their target price on shares of Olin from $59.00 to $51.00 and set a “neutral” rating on the stock in a research note on Tuesday, July 9th.

Olin Stock Performance

NYSE:OLN opened at $41.42 on Thursday. Olin has a fifty-two week low of $40.41 and a fifty-two week high of $60.60. The company has a debt-to-equity ratio of 1.29, a quick ratio of 0.82 and a current ratio of 1.43. The company has a 50 day moving average price of $48.63 and a 200 day moving average price of $52.48. The stock has a market capitalization of $4.95 billion, a P/E ratio of 14.90, a PEG ratio of 0.96 and a beta of 1.44.

Olin (NYSE:OLN) last issued its quarterly earnings data on Thursday, July 25th. The specialty chemicals company reported $0.62 earnings per share for the quarter, missing analysts’ consensus estimates of $0.70 by ($0.08). Olin had a net margin of 4.26% and a return on equity of 11.73%. The firm had revenue of $1.64 billion during the quarter, compared to analyst estimates of $1.71 billion. During the same period in the previous year, the firm posted $1.13 earnings per share. The company’s quarterly revenue was down 3.5% compared to the same quarter last year. Equities research analysts forecast that Olin will post 1.61 EPS for the current year.

Olin Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, September 13th. Investors of record on Thursday, August 8th will be given a $0.20 dividend. The ex-dividend date of this dividend is Thursday, August 8th. This represents a $0.80 annualized dividend and a yield of 1.93%. Olin’s dividend payout ratio (DPR) is 28.78%.

Institutional Inflows and Outflows

A number of institutional investors have recently bought and sold shares of the business. LRI Investments LLC purchased a new position in shares of Olin during the first quarter worth about $28,000. EverSource Wealth Advisors LLC increased its holdings in shares of Olin by 4,375.0% in the first quarter. EverSource Wealth Advisors LLC now owns 537 shares of the specialty chemicals company’s stock valued at $32,000 after purchasing an additional 525 shares during the period. Sandy Spring Bank lifted its holdings in shares of Olin by 145.6% during the fourth quarter. Sandy Spring Bank now owns 614 shares of the specialty chemicals company’s stock worth $33,000 after purchasing an additional 364 shares during the period. nVerses Capital LLC acquired a new position in shares of Olin during the second quarter worth about $33,000. Finally, Fifth Third Bancorp raised its stake in shares of Olin by 30.0% during the 1st quarter. Fifth Third Bancorp now owns 858 shares of the specialty chemicals company’s stock worth $50,000 after buying an additional 198 shares in the last quarter. 88.67% of the stock is currently owned by institutional investors and hedge funds.

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.