Olin Co. (NYSE:OLN) Receives Average Rating of “Hold” from Brokerages

Olin Co. (NYSE:OLN) has been assigned an average rating of “Hold” from the fourteen brokerages that are currently covering the firm, MarketBeat.com reports. Eight analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. The average 12-month price objective among brokers that have issued ratings on the stock in the last year is $50.14.

Several research firms recently commented on OLN. KeyCorp decreased their price objective on shares of Olin from $57.00 to $56.00 and set an “overweight” rating on the stock in a research report on Monday, October 28th. BMO Capital Markets reduced their price target on shares of Olin from $50.00 to $47.00 and set a “market perform” rating on the stock in a report on Tuesday, October 29th. Barclays dropped their price objective on shares of Olin from $45.00 to $43.00 and set an “equal weight” rating for the company in a research note on Friday, December 13th. Royal Bank of Canada lowered their target price on Olin from $52.00 to $48.00 and set an “outperform” rating on the stock in a report on Tuesday, October 29th. Finally, Wells Fargo & Company cut their price target on Olin from $48.00 to $44.00 and set an “equal weight” 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 stock in a transaction on Friday, November 8th. The stock was sold at an average price of $43.75, for a total value of $459,375.00. Following the transaction, the vice president now directly owns 24,056 shares of the company’s stock, valued at approximately $1,052,450. This trade represents a 30.39 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. 1.60% of the stock is owned by insiders.

Institutional Investors Weigh In On Olin

Several institutional investors and hedge funds have recently added to or reduced their stakes in OLN. Farther Finance Advisors LLC grew its holdings in shares of Olin by 88.2% during the 3rd quarter. Farther Finance Advisors LLC now owns 589 shares of the specialty chemicals company’s stock worth $28,000 after purchasing an additional 276 shares during the period. Mirae Asset Global Investments Co. Ltd. grew its stake in Olin by 26.2% during the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 1,534 shares of the specialty chemicals company’s stock worth $75,000 after buying an additional 318 shares during the period. Entropy Technologies LP increased its position in shares of Olin by 2.5% in the third quarter. Entropy Technologies LP now owns 13,499 shares of the specialty chemicals company’s stock worth $648,000 after acquiring an additional 332 shares in the last quarter. Nisa Investment Advisors LLC raised its stake in shares of Olin by 3.0% in the 3rd quarter. Nisa Investment Advisors LLC now owns 11,830 shares of the specialty chemicals company’s stock valued at $568,000 after acquiring an additional 350 shares during the period. Finally, Captrust Financial Advisors lifted its holdings in shares of Olin by 14.4% during the 3rd quarter. Captrust Financial Advisors now owns 4,998 shares of the specialty chemicals company’s stock valued at $240,000 after acquiring an additional 630 shares in the last quarter. 88.67% of the stock is currently owned by institutional investors and hedge funds.

Olin Stock Down 3.5 %

OLN 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. The company has a market cap of $3.77 billion, a price-to-earnings ratio of 26.10, a PEG ratio of 1.51 and a beta of 1.43. Olin has a one year low of $32.26 and a one year high of $60.60. The business’s fifty day moving average is $39.31 and its two-hundred day moving average is $43.23.

Olin announced that its board has initiated a stock buyback program on Thursday, December 12th that authorizes the company to repurchase $2.00 billion in outstanding shares. This repurchase authorization authorizes the specialty chemicals company to repurchase up to 45% of its shares through open market purchases. Shares repurchase programs are usually a sign that the company’s board believes its shares are undervalued.

Olin Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, December 13th. Stockholders of record on Thursday, November 14th were paid a dividend of $0.20 per share. This represents a $0.80 dividend on an annualized basis and a dividend yield of 2.47%. The ex-dividend date was Thursday, November 14th. Olin’s dividend payout ratio is currently 64.52%.

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.