Olin Corporation (NYSE:OLN – Get Free Report) has received a consensus rating of “Hold” from the sixteen analysts that are presently covering the company, MarketBeat Ratings reports. Three equities research analysts have rated the stock with a sell rating, eleven have assigned a hold rating, one has issued a buy rating and one has issued a strong buy rating on the company. The average twelve-month price objective among analysts that have issued ratings on the stock in the last year is $21.7692.
OLN has been the topic of a number of analyst reports. Wall Street Zen cut shares of Olin from a “sell” rating to a “strong sell” rating in a research report on Saturday, August 8th. Deutsche Bank Aktiengesellschaft lowered their target price on shares of Olin from $30.00 to $20.00 and set a “hold” rating for the company in a report on Tuesday, August 25th. Truist Financial dropped their price target on shares of Olin from $24.00 to $20.00 and set a “hold” rating for the company in a research note on Monday, August 3rd. KeyCorp started coverage on Olin in a research note on Friday, September 11th. They set an “overweight” rating and a $26.00 price target for the company. Finally, JPMorgan Chase & Co. dropped their price objective on Olin from $26.00 to $25.00 and set a “neutral” rating for the company in a report on Thursday, June 18th.
Read Our Latest Research Report on Olin
Olin Trading Down 0.1%
Olin (NYSE:OLN – Get Free Report) last announced its earnings results on Thursday, July 30th. The specialty chemicals company reported ($0.12) EPS for the quarter, missing analysts’ consensus estimates of $0.13 by ($0.25). Olin had a negative return on equity of 4.76% and a negative net margin of 2.08%.The company had revenue of $1.74 billion during the quarter, compared to analysts’ expectations of $1.81 billion. During the same quarter last year, the firm posted ($0.01) EPS. Olin’s revenue for the quarter was down .9% compared to the same quarter last year. Research analysts predict that Olin will post -0.68 earnings per share for the current year.
Olin Announces Dividend
The business also recently declared a quarterly dividend, which was paid on Friday, September 11th. Stockholders of record on Thursday, August 27th were issued a $0.20 dividend. The ex-dividend date was Thursday, August 27th. This represents a $0.80 dividend on an annualized basis and a dividend yield of 4.7%. Olin’s dividend payout ratio is presently -65.04%.
Institutional Inflows and Outflows
Several hedge funds and other institutional investors have recently bought and sold shares of the company. Values First Advisors Inc. lifted its holdings in shares of Olin by 3.4% during the first quarter. Values First Advisors Inc. now owns 12,909 shares of the specialty chemicals company’s stock worth $384,000 after purchasing an additional 425 shares during the period. Covestor Ltd raised its position in Olin by 10.6% during the 4th quarter. Covestor Ltd now owns 5,189 shares of the specialty chemicals company’s stock worth $108,000 after buying an additional 497 shares during the last quarter. Oregon Public Employees Retirement Fund lifted its stake in shares of Olin by 2.2% in the 1st quarter. Oregon Public Employees Retirement Fund now owns 23,302 shares of the specialty chemicals company’s stock worth $693,000 after acquiring an additional 500 shares during the period. First Citizens Bank & Trust Co. boosted its holdings in shares of Olin by 2.0% in the first quarter. First Citizens Bank & Trust Co. now owns 31,230 shares of the specialty chemicals company’s stock valued at $928,000 after acquiring an additional 609 shares in the last quarter. Finally, Rockefeller Capital Management L.P. boosted its holdings in shares of Olin by 115.2% in the fourth quarter. Rockefeller Capital Management L.P. now owns 1,231 shares of the specialty chemicals company’s stock valued at $26,000 after acquiring an additional 659 shares in the last quarter. Institutional investors own 88.67% of the company’s stock.
Olin Company Profile
Olin Corporation is a global manufacturer of chemicals and ammunition headquartered in Clayton, Missouri. The company operates through two primary businesses: Chlor Alkali Products and Vinyls and Winchester.
Olin’s Chlor Alkali Products and Vinyls business produces essential chemicals including chlorine, caustic soda, hydrogen, hydrochloric acid, bleach products and related chlorinated compounds. These materials are used in water treatment, pulp and paper, construction, plastics, cleaning products and other industrial applications.
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