Analysts Set Olin Co. (NYSE:OLN) Target Price at $52.73

Shares of Olin Co. (NYSE:OLN) have been given a consensus recommendation of “Hold” by the fifteen analysts that are covering the firm, Marketbeat.com reports. One equities research analyst has rated the stock with a sell rating, eight have issued a hold rating and six have given a buy rating to the company. The average 12 month price target among brokerages that have issued a report on the stock in the last year is $52.73.

OLN has been the topic of several research reports. The Goldman Sachs Group lowered their price objective on shares of Olin from $55.00 to $49.00 and set a “neutral” rating on the stock in a research report on Monday, July 29th. Bank of America cut shares of Olin from a “buy” rating to a “neutral” rating and lowered their price target for the stock from $62.00 to $51.00 in a report on Monday, July 29th. KeyCorp dropped their price objective on Olin from $69.00 to $62.00 and set an “overweight” rating on the stock in a research note on Monday, July 29th. Mizuho initiated coverage on Olin in a research report on Thursday, August 8th. They issued a “neutral” rating and a $45.00 target price for the company. Finally, Barclays dropped their price target on Olin from $59.00 to $49.00 and set an “equal weight” rating on the stock in a research report on Monday, July 29th.

Olin Price Performance

Olin stock opened at $46.00 on Friday. The stock has a market cap of $5.49 billion, a P/E ratio of 16.55, a P/E/G ratio of 0.94 and a beta of 1.41. The company has a quick ratio of 0.82, a current ratio of 1.43 and a debt-to-equity ratio of 1.29. The company’s 50 day moving average price is $43.68 and its two-hundred day moving average price is $49.87. Olin has a 52 week low of $39.47 and a 52 week high of $60.60.

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

Olin Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, September 13th. Shareholders of record on Thursday, August 8th were issued a $0.20 dividend. This represents a $0.80 annualized dividend and a yield of 1.74%. The ex-dividend date was Thursday, August 8th. Olin’s payout ratio is 28.78%.

Institutional Investors Weigh In On Olin

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. Hotchkis & Wiley Capital Management LLC boosted its stake in shares of Olin by 3.2% in the 4th quarter. Hotchkis & Wiley Capital Management LLC now owns 6,602,331 shares of the specialty chemicals company’s stock valued at $356,196,000 after purchasing an additional 203,260 shares in the last quarter. Boston Partners boosted its holdings in Olin by 7.7% during the 1st quarter. Boston Partners now owns 5,414,265 shares of the specialty chemicals company’s stock valued at $317,897,000 after acquiring an additional 384,888 shares during the period. Dimensional Fund Advisors LP grew its position in Olin by 5.5% during the 2nd quarter. Dimensional Fund Advisors LP now owns 3,741,007 shares of the specialty chemicals company’s stock worth $176,396,000 after acquiring an additional 194,755 shares during the last quarter. Balyasny Asset Management L.P. increased its stake in Olin by 218.6% in the 4th quarter. Balyasny Asset Management L.P. now owns 1,649,273 shares of the specialty chemicals company’s stock worth $88,978,000 after purchasing an additional 1,131,674 shares during the period. Finally, Norges Bank bought a new stake in Olin in the fourth quarter valued at approximately $76,125,000. 88.67% of the stock is owned by hedge funds and other institutional investors.

Olin Company Profile

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.