Olin Corporation (NYSE:OLN) Receives Consensus Recommendation of “Hold” from Brokerages

Olin Corporation (NYSE:OLN) has received an average rating of “Hold” from the sixteen ratings firms that are presently covering the stock, Marketbeat reports. Two analysts have rated the stock with a sell recommendation, ten have assigned a hold recommendation, three have assigned a buy recommendation and one has assigned a strong buy recommendation to the company. The average twelve-month target price among brokerages that have updated their coverage on the stock in the last year is $28.0769.

A number of equities research analysts recently weighed in on OLN shares. Wells Fargo & Company reaffirmed an “overweight” rating and set a $37.00 price objective on shares of Olin in a research report on Sunday, May 10th. Truist Financial boosted their price objective on shares of Olin from $20.00 to $26.00 and gave the company a “hold” rating in a research report on Monday, May 11th. Royal Bank Of Canada set a $30.00 price objective on shares of Olin and gave the company a “sector perform” rating in a research report on Friday, April 10th. Zacks Research raised shares of Olin from a “strong sell” rating to a “hold” rating in a research report on Monday, April 13th. Finally, Citigroup boosted their price objective on shares of Olin from $26.00 to $30.00 and gave the company a “neutral” rating in a research report on Thursday, April 16th.

Institutional Investors Weigh In On Olin

Institutional investors have recently modified their holdings of the business. Strategic Advocates LLC bought a new stake in shares of Olin during the 3rd quarter valued at about $25,000. Rockefeller Capital Management L.P. grew its position in Olin by 115.2% in the 4th quarter. Rockefeller Capital Management L.P. now owns 1,231 shares of the specialty chemicals company’s stock worth $26,000 after purchasing an additional 659 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. bought a new position in Olin in the 1st quarter worth about $32,000. Bessemer Group Inc. grew its position in Olin by 712.7% in the 3rd quarter. Bessemer Group Inc. now owns 1,341 shares of the specialty chemicals company’s stock worth $34,000 after purchasing an additional 1,176 shares during the last quarter. Finally, Allworth Financial LP grew its position in Olin by 114.0% in the 3rd quarter. Allworth Financial LP now owns 1,740 shares of the specialty chemicals company’s stock worth $43,000 after purchasing an additional 927 shares during the last quarter. Institutional investors own 88.67% of the company’s stock.

Olin Price Performance

OLN opened at $24.16 on Friday. The company has a 50-day moving average of $27.01 and a 200-day moving average of $24.61. The company has a market capitalization of $2.75 billion, a P/E ratio of -21.57 and a beta of 1.17. Olin has a 1-year low of $18.08 and a 1-year high of $30.46. The company has a debt-to-equity ratio of 1.73, a quick ratio of 0.82 and a current ratio of 1.36.

Olin Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, June 12th. Investors of record on Thursday, May 14th will be given a dividend of $0.20 per share. This represents a $0.80 dividend on an annualized basis and a dividend yield of 3.3%. The ex-dividend date of this dividend is Thursday, May 14th. Olin’s dividend payout ratio is currently -71.43%.

Olin Company Profile

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.