Citigroup Inc. initiated coverage on shares of Olin Corporation (NYSE:OLN) in a research note published on Wednesday morning, MarketBeat Ratings reports. The brokerage issued a buy rating and a $39.00 price objective on the specialty chemicals company’s stock.

A number of other brokerages have also recently commented on OLN. BidaskClub raised shares of Olin Corporation from a sell rating to a hold rating in a report on Wednesday, June 21st. UBS AG reaffirmed a neutral rating and issued a $30.00 target price (down from $33.00) on shares of Olin Corporation in a report on Sunday, June 25th. Cowen and Company reaffirmed an outperform rating and issued a $39.00 target price (up from $37.00) on shares of Olin Corporation in a report on Thursday, June 22nd. Finally, Royal Bank Of Canada reaffirmed a buy rating and issued a $35.00 target price on shares of Olin Corporation in a report on Tuesday, June 20th. Five equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. The company presently has a consensus rating of Buy and an average price target of $35.50.

Shares of Olin Corporation (OLN) opened at 34.25 on Wednesday. The stock has a 50 day moving average of $30.85 and a 200 day moving average of $30.94. Olin Corporation has a 12-month low of $18.52 and a 12-month high of $34.83. The stock has a market capitalization of $5.69 billion, a P/E ratio of 133.27 and a beta of 1.40.

Olin Corporation (NYSE:OLN) last announced its earnings results on Monday, July 31st. The specialty chemicals company reported $0.01 EPS for the quarter, missing analysts’ consensus estimates of $0.16 by ($0.15). The business had revenue of $1.53 billion during the quarter, compared to analyst estimates of $1.51 billion. Olin Corporation had a net margin of 0.72% and a return on equity of 5.80%. The business’s revenue was up 11.9% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.24 earnings per share. Equities research analysts anticipate that Olin Corporation will post $1.10 EPS for the current fiscal year.

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The company also recently disclosed a quarterly dividend, which was paid on Monday, September 11th. Investors of record on Thursday, August 10th were given a $0.20 dividend. The ex-dividend date of this dividend was Tuesday, August 8th. This represents a $0.80 dividend on an annualized basis and a yield of 2.34%. Olin Corporation’s dividend payout ratio (DPR) is 320.00%.

In related news, EVP John L. Mcintosh sold 24,000 shares of Olin Corporation stock in a transaction on Thursday, August 3rd. The shares were sold at an average price of $31.54, for a total value of $756,960.00. Following the transaction, the executive vice president now directly owns 84,391 shares in the company, valued at approximately $2,661,692.14. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, VP Stephen C. Curley sold 5,000 shares of Olin Corporation stock in a transaction on Tuesday, August 15th. The shares were sold at an average price of $30.34, for a total transaction of $151,700.00. Following the completion of the transaction, the vice president now owns 23,837 shares in the company, valued at $723,214.58. The disclosure for this sale can be found here. Over the last quarter, insiders sold 45,070 shares of company stock worth $1,407,151. 2.90% of the stock is currently owned by insiders.

A number of large investors have recently bought and sold shares of OLN. BlackRock Inc. grew its position in Olin Corporation by 7,604.7% in the 1st quarter. BlackRock Inc. now owns 19,895,613 shares of the specialty chemicals company’s stock valued at $653,967,000 after buying an additional 19,637,387 shares during the last quarter. King Street Capital Management L.P. purchased a new position in Olin Corporation in the 1st quarter valued at $65,740,000. Iridian Asset Management LLC CT grew its position in Olin Corporation by 28.0% in the 2nd quarter. Iridian Asset Management LLC CT now owns 7,098,169 shares of the specialty chemicals company’s stock valued at $214,933,000 after buying an additional 1,553,430 shares during the last quarter. Vanguard Group Inc. grew its position in Olin Corporation by 6.5% in the 1st quarter. Vanguard Group Inc. now owns 14,410,405 shares of the specialty chemicals company’s stock valued at $473,671,000 after buying an additional 878,440 shares during the last quarter. Finally, Morgan Stanley grew its position in Olin Corporation by 52.8% in the 1st quarter. Morgan Stanley now owns 1,912,057 shares of the specialty chemicals company’s stock valued at $62,850,000 after buying an additional 660,806 shares during the last quarter. Hedge funds and other institutional investors own 92.62% of the company’s stock.

Olin Corporation Company Profile

Olin Corporation is a manufacturer and distributor of chemical products, and ammunition. The Company operates through three segments: Chlor Alkali Products and Vinyls, Epoxy and Winchester. The Chlor Alkali Products and Vinyls segment manufactures and sells chlorine and caustic soda, ethylene dichloride and vinyl chloride monomer, methyl chloride, methylene chloride, chloroform, carbon tetrachloride, perchloroethylene, trichloroethylene and vinylidene chloride, hydrochloric acid, hydrogen, bleach products and potassium hydroxide.

Analyst Recommendations for Olin Corporation (NYSE:OLN)

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