BMO Capital Markets Cuts Olin (NYSE:OLN) Price Target to $47.00

Olin (NYSE:OLN) had its price objective decreased by BMO Capital Markets from $50.00 to $47.00 in a report published on Tuesday, Benzinga reports. BMO Capital Markets currently has a market perform rating on the specialty chemicals company’s stock.

Several other research firms have also recently commented on OLN. Royal Bank of Canada dropped their target price on shares of Olin from $52.00 to $48.00 and set an “outperform” rating on the stock in a research report on Tuesday. Deutsche Bank Aktiengesellschaft dropped their target price on shares of Olin from $57.00 to $48.00 and set a “hold” rating on the stock in a research report on Monday, July 29th. Wells Fargo & Company dropped their target price on shares of Olin from $48.00 to $44.00 and set an “equal weight” rating on the stock in a research report on Monday. KeyCorp dropped their target price on shares of Olin from $57.00 to $56.00 and set an “overweight” rating on the stock in a research report on Monday. Finally, The Goldman Sachs Group dropped their target price on shares of Olin from $55.00 to $49.00 and set a “neutral” rating on the stock in a research report on Monday, July 29th. Eight investment analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. According to MarketBeat, Olin presently has a consensus rating of “Hold” and an average price target of $51.86.

Olin Price Performance

Shares of NYSE OLN opened at $41.03 on Tuesday. Olin has a fifty-two week low of $39.47 and a fifty-two week high of $60.60. The stock has a market cap of $4.78 billion, a price-to-earnings ratio of 33.09, a PEG ratio of 1.53 and a beta of 1.41. The company has a debt-to-equity ratio of 1.32, a quick ratio of 0.82 and a current ratio of 1.40. The firm’s 50-day simple moving average is $44.64 and its 200 day simple moving average is $47.78.

Olin Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, December 13th. Investors of record on Thursday, November 14th will be paid a $0.20 dividend. The ex-dividend date of this dividend is Thursday, November 14th. This represents a $0.80 dividend on an annualized basis and a yield of 1.95%. Olin’s dividend payout ratio is 64.52%.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of OLN. LRI Investments LLC purchased a new position in Olin in the 1st quarter valued at approximately $28,000. Farther Finance Advisors LLC grew its stake in shares of Olin by 88.2% during the third quarter. Farther Finance Advisors LLC now owns 589 shares of the specialty chemicals company’s stock valued at $28,000 after buying an additional 276 shares during the last quarter. EverSource Wealth Advisors LLC grew its stake in shares of Olin by 4,375.0% during the first quarter. EverSource Wealth Advisors LLC now owns 537 shares of the specialty chemicals company’s stock valued at $32,000 after buying an additional 525 shares during the last quarter. nVerses Capital LLC purchased a new stake in shares of Olin during the second quarter worth about $33,000. Finally, Denver PWM LLC purchased a new stake in shares of Olin during the second quarter worth about $59,000. 88.67% of the stock is currently 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.