Olin (NYSE:OLN) Research Coverage Started at Mizuho

Mizuho began coverage on shares of Olin (NYSE:OLN) in a research report released on Thursday morning, MarketBeat Ratings reports. The brokerage issued a neutral rating and a $45.00 price objective on the specialty chemicals company’s stock.

Several other research firms have also recently weighed in on OLN. Royal Bank of Canada lowered their price objective on shares of Olin from $61.00 to $52.00 and set an outperform rating on the stock in a research report on Monday, July 29th. Wells Fargo & Company reduced their price objective on Olin from $50.00 to $48.00 and set an equal weight rating for the company in a research note on Monday, July 29th. Citigroup lifted their target price on Olin from $63.00 to $67.00 and gave the company a buy rating in a research note on Wednesday, April 10th. Stifel Nicolaus boosted their price objective on shares of Olin from $68.00 to $69.00 and gave the company a buy rating in a research report on Monday, April 29th. Finally, Piper Sandler cut their target price on shares of Olin from $75.00 to $57.00 and set an overweight rating for the company in a research report on Tuesday, July 30th. One equities research analyst has rated the stock with a sell rating, nine have given a hold rating and six have issued a buy rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of Hold and an average target price of $53.27.

Olin Trading Down 0.9 %

Shares of NYSE OLN opened at $40.65 on Thursday. The company has a quick ratio of 0.82, a current ratio of 1.43 and a debt-to-equity ratio of 1.29. Olin has a 12 month low of $40.37 and a 12 month high of $60.60. The company has a market cap of $4.85 billion, a price-to-earnings ratio of 14.62, a P/E/G ratio of 0.96 and a beta of 1.44. The business has a fifty day simple moving average of $47.39 and a 200-day simple moving average of $52.12.

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

Olin Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, September 13th. Shareholders of record on Thursday, August 8th will be given a dividend of $0.20 per share. This represents a $0.80 dividend on an annualized basis and a yield of 1.97%. The ex-dividend date is Thursday, August 8th. Olin’s dividend payout ratio is 28.78%.

Institutional Investors Weigh In On Olin

Hedge funds and other institutional investors have recently made changes to their positions in the business. LRI Investments LLC acquired a new position in shares of Olin during the 1st quarter worth about $28,000. EverSource Wealth Advisors LLC increased its position in Olin by 4,375.0% in the 1st quarter. EverSource Wealth Advisors LLC now owns 537 shares of the specialty chemicals company’s stock worth $32,000 after buying 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 buying an additional 364 shares during the last quarter. nVerses Capital LLC bought a new stake in shares of Olin in the second quarter valued at approximately $33,000. Finally, Fifth Third Bancorp boosted its position in shares of Olin by 30.0% in the first quarter. Fifth Third Bancorp now owns 858 shares of the specialty chemicals company’s stock valued at $50,000 after acquiring an additional 198 shares during the period. 88.67% of the stock is 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.