Analysts Set Olin Co. (NYSE:OLN) PT at $50.14

Shares of Olin Co. (NYSE:OLN) have been assigned a consensus rating of “Hold” from the fourteen ratings firms that are presently covering the stock, MarketBeat Ratings reports. Eight research analysts have rated the stock with a hold recommendation and six have given a buy recommendation to the company. The average 1 year target price among analysts that have issued ratings on the stock in the last year is $50.14.

Several research analysts have recently weighed in on the stock. Royal Bank of Canada decreased their target price on shares of Olin from $52.00 to $48.00 and set an “outperform” rating for the company in a research note on Tuesday, October 29th. Barclays lowered their target price on Olin from $45.00 to $43.00 and set an “equal weight” rating for the company in a research note on Friday, December 13th. BMO Capital Markets cut their price target on Olin from $50.00 to $47.00 and set a “market perform” rating on the stock in a research note on Tuesday, October 29th. Citigroup lowered their price objective on Olin from $48.00 to $45.00 and set a “buy” rating for the company in a research note on Monday, December 16th. Finally, Piper Sandler cut their target price on Olin from $57.00 to $51.00 and set an “overweight” rating on the stock in a research report on Wednesday, October 30th.

Insider Activity

In other news, VP R Nichole Sumner sold 10,500 shares of the stock in a transaction that occurred on Friday, November 8th. The stock was sold at an average price of $43.75, for a total transaction of $459,375.00. Following the sale, the vice president now directly 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 document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Company insiders own 1.60% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in the stock. Farther Finance Advisors LLC boosted its holdings 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 acquiring an additional 276 shares during the period. Mirae Asset Global Investments Co. Ltd. lifted its position in Olin by 26.2% in the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 1,534 shares of the specialty chemicals company’s stock valued at $75,000 after purchasing an additional 318 shares during the last quarter. Entropy Technologies LP lifted its position in Olin by 2.5% in the 3rd quarter. Entropy Technologies LP now owns 13,499 shares of the specialty chemicals company’s stock valued at $648,000 after purchasing an additional 332 shares during the last quarter. Nisa Investment Advisors LLC grew its position in Olin by 3.0% in the 3rd quarter. Nisa Investment Advisors LLC now owns 11,830 shares of the specialty chemicals company’s stock worth $568,000 after purchasing an additional 350 shares during the last quarter. Finally, Captrust Financial Advisors grew its position in Olin by 14.4% in the 3rd quarter. Captrust Financial Advisors now owns 4,998 shares of the specialty chemicals company’s stock worth $240,000 after purchasing an additional 630 shares during the last quarter. 88.67% of the stock is currently owned by institutional investors.

Olin Stock Performance

Olin stock opened at $32.36 on Friday. The company has a debt-to-equity ratio of 1.32, a quick ratio of 0.82 and a current ratio of 1.40. Olin has a one year low of $32.26 and a one year high of $60.60. The stock’s 50 day moving average price is $39.31 and its 200 day moving average price is $43.23. The firm has a market capitalization of $3.77 billion, a PE ratio of 26.10, a price-to-earnings-growth ratio of 1.51 and a beta of 1.43.

Olin declared that its board has initiated a share buyback program on Thursday, December 12th that allows the company to repurchase $2.00 billion in outstanding shares. This repurchase authorization allows the specialty chemicals company to repurchase up to 45% of its stock through open market purchases. Stock repurchase programs are often an indication that the company’s board believes its stock is undervalued.

Olin Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, December 13th. Shareholders of record on Thursday, November 14th were paid a dividend of $0.20 per share. The ex-dividend date was Thursday, November 14th. This represents a $0.80 annualized dividend and a yield of 2.47%. Olin’s payout ratio is 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.