Olin (NYSE:OLN) Price Target Lowered to $47.00 at BMO Capital Markets

Olin (NYSE:OLN - Free Report) had its target price trimmed by BMO Capital Markets from $50.00 to $47.00 in a report issued on Tuesday morning, Benzinga reports. The firm currently has a market perform rating on the specialty chemicals company's stock.

Several other research firms have also recently issued reports on OLN. Deutsche Bank Aktiengesellschaft decreased their price target on Olin from $57.00 to $48.00 and set a "hold" rating on the stock in a report on Monday, July 29th. JPMorgan Chase & Co. upgraded Olin from a "neutral" rating to an "overweight" rating and set a $55.00 price target on the stock in a report on Monday, July 29th. KeyCorp decreased their price target on Olin from $57.00 to $56.00 and set an "overweight" rating on the stock in a report on Monday. Wells Fargo & Company decreased their price target on Olin from $48.00 to $44.00 and set an "equal weight" rating on the stock in a report on Monday. Finally, Royal Bank of Canada decreased their price target on Olin from $52.00 to $48.00 and set an "outperform" rating on the stock in a report on Tuesday. One equities research analyst has rated the stock with a sell rating, eight have assigned a hold rating and six have assigned a buy rating to the stock. According to data from MarketBeat.com, Olin has an average rating of "Hold" and a consensus target price of $51.33.

Olin Price Performance

Shares of OLN stock traded down $0.83 during trading hours on Tuesday, hitting $40.88. 1,639,155 shares of the company's stock were exchanged, compared to its average volume of 1,165,186. The stock's 50-day moving average is $44.76 and its 200-day moving average is $47.97. The company has a debt-to-equity ratio of 1.32, a current ratio of 1.40 and a quick ratio of 0.82. The stock has a market cap of $4.81 billion, a price-to-earnings ratio of 32.97, a price-to-earnings-growth ratio of 1.01 and a beta of 1.41. Olin has a 52 week low of $39.47 and a 52 week high of $60.60.

Olin Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, December 13th. Investors of record on Thursday, November 14th will be issued a dividend of $0.20 per share. The ex-dividend date is Thursday, November 14th. This represents a $0.80 dividend on an annualized basis and a dividend yield of 1.96%. Olin's payout ratio is presently 64.52%.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of the company. Boston Partners grew its holdings in shares of Olin by 7.7% during the first quarter. Boston Partners now owns 5,414,265 shares of the specialty chemicals company's stock worth $317,897,000 after buying an additional 384,888 shares in the last quarter. Dimensional Fund Advisors LP grew its holdings in shares of Olin by 5.5% during the second quarter. Dimensional Fund Advisors LP now owns 3,741,007 shares of the specialty chemicals company's stock worth $176,396,000 after buying an additional 194,755 shares in the last quarter. Bank of New York Mellon Corp grew its holdings in shares of Olin by 2.5% during the second quarter. Bank of New York Mellon Corp now owns 1,373,519 shares of the specialty chemicals company's stock worth $64,761,000 after buying an additional 33,143 shares in the last quarter. Allspring Global Investments Holdings LLC grew its holdings in shares of Olin by 2.4% during the third quarter. Allspring Global Investments Holdings LLC now owns 1,061,001 shares of the specialty chemicals company's stock worth $50,907,000 after buying an additional 25,163 shares in the last quarter. Finally, Clearbridge Investments LLC grew its stake in Olin by 4.8% in the first quarter. Clearbridge Investments LLC now owns 777,658 shares of the specialty chemicals company's stock valued at $45,726,000 after purchasing an additional 35,637 shares in the last quarter. 88.67% of the stock is currently owned by 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.