Shares of Olin Co. (NYSE:OLN) have earned a consensus recommendation of “Hold” from the fourteen research firms that are currently covering the firm, MarketBeat.com reports. Two equities research analysts have rated the stock with a sell rating, five have assigned a hold rating and six have given a buy rating to the company. The average twelve-month target price among analysts that have updated their coverage on the stock in the last year is $26.55.
OLN has been the subject of a number of recent analyst reports. Royal Bank of Canada reduced their target price on Olin to $19.00 and set a “sector perform” rating for the company in a report on Wednesday, July 10th. Alembic Global Advisors initiated coverage on Olin in a report on Monday, April 22nd. They set a “buy” rating and a $32.00 target price for the company. Cowen reaffirmed an “outperform” rating and set a $27.00 target price (down previously from $31.00) on shares of Olin in a report on Monday, May 6th. Nomura raised Olin from a “reduce” rating to a “neutral” rating and lifted their target price for the company from $22.00 to $25.00 in a report on Monday, April 15th. Finally, ValuEngine raised Olin from a “strong sell” rating to a “sell” rating in a report on Friday, May 10th.
OLN stock traded down $0.16 during mid-day trading on Friday, reaching $17.67. 3,535,688 shares of the company traded hands, compared to its average volume of 2,338,417. The company has a quick ratio of 0.98, a current ratio of 1.64 and a debt-to-equity ratio of 1.17. The stock has a market capitalization of $2.98 billion, a P/E ratio of 10.10, a P/E/G ratio of 0.86 and a beta of 1.54. Olin has a 52-week low of $17.58 and a 52-week high of $32.00. The company has a fifty day moving average price of $20.82.
The firm also recently declared a quarterly dividend, which will be paid on Tuesday, September 10th. Stockholders of record on Friday, August 9th will be given a dividend of $0.20 per share. The ex-dividend date is Thursday, August 8th. This represents a $0.80 dividend on an annualized basis and a dividend yield of 4.53%. Olin’s dividend payout ratio (DPR) is presently 45.71%.
In other news, EVP John L. Mcintosh sold 19,335 shares of Olin stock in a transaction dated Wednesday, May 22nd. The stock was sold at an average price of $22.54, for a total transaction of $435,810.90. Following the completion of the sale, the executive vice president now owns 81,477 shares in the company, valued at approximately $1,836,491.58. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, EVP John L. Mcintosh sold 10,500 shares of Olin stock in a transaction dated Thursday, May 16th. The shares were sold at an average price of $21.74, for a total value of $228,270.00. Following the sale, the executive vice president now owns 100,812 shares of the company’s stock, valued at approximately $2,191,652.88. The disclosure for this sale can be found here. Company insiders own 1.90% of the company’s stock.
Several institutional investors and hedge funds have recently modified their holdings of the company. FMR LLC boosted its position in shares of Olin by 99.8% during the 1st quarter. FMR LLC now owns 24,733,170 shares of the specialty chemicals company’s stock valued at $572,325,000 after acquiring an additional 12,354,303 shares during the last quarter. BlackRock Inc. lifted its position in Olin by 0.4% in the 1st quarter. BlackRock Inc. now owns 19,435,921 shares of the specialty chemicals company’s stock worth $449,746,000 after buying an additional 80,752 shares during the last quarter. Dimensional Fund Advisors LP lifted its position in Olin by 18.8% in the 4th quarter. Dimensional Fund Advisors LP now owns 5,338,344 shares of the specialty chemicals company’s stock worth $107,351,000 after buying an additional 844,972 shares during the last quarter. Norges Bank bought a new stake in Olin in the 4th quarter worth approximately $39,321,000. Finally, Geode Capital Management LLC lifted its position in Olin by 7.9% in the 4th quarter. Geode Capital Management LLC now owns 1,760,528 shares of the specialty chemicals company’s stock worth $35,403,000 after buying an additional 129,008 shares during the last quarter. Hedge funds and other institutional investors own 91.93% of the company’s stock.
Olin Company Profile
Olin Corporation manufactures and distributes chemical products in the United States and internationally. 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, trichloroethylene and vinylidene chloride, hydrochloric acid, hydrogen, bleach products, potassium hydroxide, chlorinated organics intermediates and solvents, and sodium hypochlorite.The Epoxy segment provides allyl chloride and epichlorohydrin, as well as acetone, bisphenol, cumene, and phenol for use in resins and other plastic materials, water purification, and pesticides, as well as for the manufacturers of polymers; liquid and solid epoxy resins that are used in adhesives, paints and coatings, composites, and flooring; and differentiated epoxy resins for use in electrical laminates, paints and coatings, wind blades, electronics, and construction, as well as offers additives.
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