Brokerages Set Olin Co. (NYSE:OLN) PT at $51.86

Olin Co. (NYSE:OLN) has earned an average recommendation of “Hold” from the fourteen research firms that are currently covering the firm, MarketBeat reports. Eight research analysts have rated the stock with a hold rating and six have given a buy rating to the company. The average 12 month price target among analysts that have issued ratings on the stock in the last year is $51.86.

Several research firms have commented on OLN. Deutsche Bank Aktiengesellschaft decreased their target price on shares of Olin from $57.00 to $48.00 and set a “hold” rating for the company in a research report on Monday, July 29th. Barclays decreased their price objective on shares of Olin from $49.00 to $45.00 and set an “equal weight” rating for the company in a report on Monday, October 28th. The Goldman Sachs Group decreased their price objective on shares of Olin from $55.00 to $49.00 and set a “neutral” rating for the company in a report on Monday, July 29th. Wells Fargo & Company decreased their price objective on shares of Olin from $48.00 to $44.00 and set an “equal weight” rating for the company in a report on Monday, October 28th. Finally, KeyCorp decreased their price objective on shares of Olin from $57.00 to $56.00 and set an “overweight” rating for the company in a report on Monday, October 28th.

Insider Activity at Olin

In related news, VP R Nichole Sumner sold 10,500 shares of the company’s stock in a transaction that occurred on Friday, November 8th. The shares were sold at an average price of $43.75, for a total value of $459,375.00. Following the completion of the sale, the vice president now owns 24,056 shares in the company, valued at approximately $1,052,450. This represents a 30.39 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 1.60% of the stock is owned by insiders.

Institutional Investors Weigh In On Olin

Several hedge funds have recently made changes to their positions in the company. Pzena Investment Management LLC lifted its position in Olin by 24.8% in the 3rd quarter. Pzena Investment Management LLC now owns 3,452,708 shares of the specialty chemicals company’s stock worth $165,661,000 after buying an additional 685,710 shares in the last quarter. Hotchkis & Wiley Capital Management LLC lifted its position in Olin by 6.4% in the 3rd quarter. Hotchkis & Wiley Capital Management LLC now owns 8,838,988 shares of the specialty chemicals company’s stock worth $424,095,000 after buying an additional 531,330 shares in the last quarter. AQR Capital Management LLC lifted its position in Olin by 429.8% in the 2nd quarter. AQR Capital Management LLC now owns 610,153 shares of the specialty chemicals company’s stock worth $28,769,000 after buying an additional 494,976 shares in the last quarter. Boston Partners lifted its position in Olin by 7.7% in the 1st quarter. Boston Partners now owns 5,414,265 shares of the specialty chemicals company’s stock worth $317,897,000 after buying an additional 384,888 shares in the last quarter. Finally, Verition Fund Management LLC lifted its position in Olin by 70.9% in the 3rd quarter. Verition Fund Management LLC now owns 544,814 shares of the specialty chemicals company’s stock worth $26,140,000 after buying an additional 225,930 shares in the last quarter. Hedge funds and other institutional investors own 88.67% of the company’s stock.

Olin Price Performance

NYSE OLN opened at $41.37 on Friday. Olin has a 52 week low of $39.47 and a 52 week high of $60.60. The company has a current ratio of 1.40, a quick ratio of 0.82 and a debt-to-equity ratio of 1.32. The stock has a market cap of $4.82 billion, a price-to-earnings ratio of 33.36, a price-to-earnings-growth ratio of 1.74 and a beta of 1.43. The company has a 50-day moving average price of $44.50 and a two-hundred day moving average price of $47.04.

Olin Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, December 13th. Investors of record on Thursday, November 14th will be paid a dividend of $0.20 per share. This represents a $0.80 annualized dividend and a yield of 1.93%. The ex-dividend date of this dividend is Thursday, November 14th. Olin’s dividend payout ratio is presently 64.52%.

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.