Olin Corporation (NYSE:OLN – Get Free Report) crossed above its two hundred day moving average during trading on Friday . The stock has a two hundred day moving average of $24.24 and traded as high as $26.91. Olin shares last traded at $25.8310, with a volume of 2,986,838 shares.
Analyst Upgrades and Downgrades
OLN has been the topic of a number of research reports. Wells Fargo & Company reissued an “overweight” rating and set a $37.00 price target on shares of Olin in a report on Sunday, May 10th. KeyCorp lowered their price target on Olin from $29.00 to $26.00 and set an “overweight” rating on the stock in a report on Monday, February 2nd. Citigroup raised their price target on Olin from $26.00 to $30.00 and gave the stock a “neutral” rating in a report on Thursday, April 16th. Morgan Stanley raised their price target on Olin from $18.00 to $22.00 and gave the stock an “underweight” rating in a report on Monday, May 11th. Finally, Truist Financial raised their price target on Olin from $20.00 to $26.00 and gave the stock a “hold” rating in a report on Monday, May 11th. One research analyst has rated the stock with a Strong Buy rating, three have given a Buy rating, ten have assigned a Hold rating and two have issued a Sell rating to the company’s stock. Based on data from MarketBeat, Olin presently has a consensus rating of “Hold” and a consensus target price of $28.08.
View Our Latest Stock Report on Olin
Olin Price Performance
Olin Announces Dividend
The firm also recently disclosed a quarterly dividend, which will be paid on Friday, June 12th. Shareholders of record on Thursday, May 14th will be issued a $0.20 dividend. This represents a $0.80 dividend on an annualized basis and a yield of 3.1%. The ex-dividend date of this dividend is Thursday, May 14th. Olin’s payout ratio is currently -71.43%.
Institutional Investors Weigh In On Olin
Institutional investors have recently added to or reduced their stakes in the business. Royal Bank of Canada lifted its position in shares of Olin by 20.2% during the 1st quarter. Royal Bank of Canada now owns 85,198 shares of the specialty chemicals company’s stock valued at $2,066,000 after acquiring an additional 14,344 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. acquired a new stake in shares of Olin during the 1st quarter valued at approximately $32,000. Jones Financial Companies Lllp lifted its position in shares of Olin by 467.9% during the 1st quarter. Jones Financial Companies Lllp now owns 13,805 shares of the specialty chemicals company’s stock valued at $335,000 after acquiring an additional 11,374 shares during the period. Goldman Sachs Group Inc. lifted its position in shares of Olin by 57.6% during the 1st quarter. Goldman Sachs Group Inc. now owns 588,602 shares of the specialty chemicals company’s stock valued at $14,268,000 after acquiring an additional 215,235 shares during the period. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its position in shares of Olin by 6.7% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 317,472 shares of the specialty chemicals company’s stock valued at $7,696,000 after acquiring an additional 20,047 shares during the period. Hedge funds and other institutional investors own 88.67% of the company’s stock.
About Olin
Olin Corporation is a diversified manufacturer specializing in chemical products and ammunition. The company’s core business activities encompass the production and distribution of chlor-alkali products, epoxy resins and derivatives, and small-caliber ammunition under the Winchester brand. Olin’s chemical operations supply chlorine, caustic soda and related co-products to a wide range of end markets, including water treatment, pulp and paper, pharmaceuticals and general industrial applications.
In its Chlor Alkali Products & Vinyls segment, Olin operates multiple manufacturing facilities that produce chlorine and sodium hydroxide, along with vinyl chloride monomer and polyvinyl chloride (PVC) compounds.
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