Olin (NYSE:OLN) Given New $23.00 Price Target at Royal Bank Of Canada

Olin (NYSE:OLN) had its price objective reduced by Royal Bank Of Canada from $25.00 to $23.00 in a report published on Thursday morning,Benzinga reports. They currently have a sector perform rating on the specialty chemicals company’s stock.

Several other research firms have also recently issued reports on OLN. Wall Street Zen cut Olin from a “hold” rating to a “sell” rating in a research note on Friday, June 27th. Truist Financial reduced their price target on Olin from $25.00 to $24.00 and set a “hold” rating on the stock in a research note on Monday, May 5th. Piper Sandler reduced their price target on Olin from $33.00 to $26.00 and set a “neutral” rating on the stock in a research note on Monday, April 7th. Mizuho set a $23.00 price target on Olin in a research note on Tuesday, April 15th. Finally, KeyCorp reduced their price target on Olin from $40.00 to $34.00 and set an “overweight” rating on the stock in a research note on Monday, April 14th. Two analysts have rated the stock with a sell rating, eleven have assigned a hold rating and three have assigned a buy rating to the company’s stock. According to data from MarketBeat, Olin presently has a consensus rating of “Hold” and an average target price of $27.67.

Olin Price Performance

Shares of Olin stock opened at $21.92 on Thursday. The company has a debt-to-equity ratio of 1.48, a current ratio of 1.56 and a quick ratio of 0.96. The business’s 50 day simple moving average is $20.67 and its two-hundred day simple moving average is $25.00. The stock has a market capitalization of $2.52 billion, a P/E ratio of 42.98 and a beta of 1.52. Olin has a one year low of $17.66 and a one year high of $50.75.

Olin (NYSE:OLN) last posted its earnings results on Thursday, May 1st. The specialty chemicals company reported $0.04 earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.10) by $0.14. Olin had a return on equity of 3.13% and a net margin of 0.94%. The firm had revenue of $1.64 billion for the quarter, compared to analysts’ expectations of $1.58 billion. During the same period in the previous year, the firm earned $0.40 earnings per share. The business’s revenue was up 1.2% compared to the same quarter last year. Analysts forecast that Olin will post 1.38 EPS for the current year.

Olin Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, June 13th. Shareholders of record on Thursday, May 15th were issued a $0.20 dividend. This represents a $0.80 annualized dividend and a yield of 3.65%. The ex-dividend date was Thursday, May 15th. Olin’s dividend payout ratio (DPR) is 156.86%.

Institutional Investors Weigh In On Olin

Hedge funds have recently added to or reduced their stakes in the stock. Fifth Third Bancorp lifted its holdings in shares of Olin by 160.5% during the first quarter. Fifth Third Bancorp now owns 1,206 shares of the specialty chemicals company’s stock valued at $29,000 after purchasing an additional 743 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. bought a new position in shares of Olin during the first quarter valued at $31,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. bought a new position in shares of Olin during the first quarter valued at $32,000. Covestor Ltd lifted its holdings in shares of Olin by 45.8% during the fourth quarter. Covestor Ltd now owns 1,334 shares of the specialty chemicals company’s stock valued at $45,000 after purchasing an additional 419 shares in the last quarter. Finally, Allworth Financial LP lifted its holdings in shares of Olin by 188.5% during the first quarter. Allworth Financial LP now owns 1,676 shares of the specialty chemicals company’s stock valued at $37,000 after purchasing an additional 1,095 shares in the last quarter. 88.67% of the stock is owned by institutional investors.

About Olin

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.