Olin (NYSE:OLN) Price Target Cut to $51.00 by Analysts at Piper Sandler

Olin (NYSE:OLN - Free Report) had its price objective cut by Piper Sandler from $57.00 to $51.00 in a report published on Wednesday, Benzinga reports. They currently have an overweight rating on the specialty chemicals company's stock.

Several other equities analysts also recently issued reports on OLN. Wells Fargo & Company cut their price target on shares of Olin from $48.00 to $44.00 and set an "equal weight" rating for the company in a report on Monday. KeyCorp cut their target price on shares of Olin from $57.00 to $56.00 and set an "overweight" rating for the company in a research note on Monday. 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 research report on Monday, July 29th. Barclays cut their price objective on Olin from $49.00 to $45.00 and set an "equal weight" rating for the company in a research report on Monday. Finally, The Goldman Sachs Group reduced their price objective on Olin from $55.00 to $49.00 and set a "neutral" rating on the stock in a research note on Monday, July 29th. One analyst has rated the stock with a sell rating, eight have issued a hold rating and six have assigned a buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of "Hold" and an average target price of $50.93.

Olin Price Performance

Olin stock traded up $0.25 during mid-day trading on Wednesday, hitting $41.14. 1,193,338 shares of the company were exchanged, compared to its average volume of 1,165,320. The company has a market capitalization of $4.84 billion, a PE ratio of 33.27, a price-to-earnings-growth ratio of 1.01 and a beta of 1.41. The business has a fifty day moving average of $44.72 and a 200 day moving average of $47.88. Olin has a 1-year low of $39.47 and a 1-year high of $60.60. The company has a quick ratio of 0.82, a current ratio of 1.40 and a debt-to-equity ratio of 1.32.

Olin Announces Dividend

The firm 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 $0.20 dividend. The ex-dividend date is Thursday, November 14th. This represents a $0.80 annualized dividend and a yield of 1.94%. Olin's dividend payout ratio is currently 64.52%.

Institutional Trading of Olin

A number of institutional investors have recently bought and sold shares of OLN. LRI Investments LLC bought a new position in shares of Olin in the 1st quarter worth $28,000. EverSource Wealth Advisors LLC boosted its holdings in Olin by 4,375.0% during the first quarter. EverSource Wealth Advisors LLC now owns 537 shares of the specialty chemicals company's stock worth $32,000 after buying an additional 525 shares during the last quarter. Farther Finance Advisors LLC grew its position 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 buying an additional 276 shares during the period. nVerses Capital LLC bought a new stake in shares of Olin in the 2nd quarter valued at about $33,000. Finally, Headlands Technologies LLC bought a new stake in shares of Olin in the 1st quarter valued at about $69,000. Institutional investors and hedge funds own 88.67% of the company's stock.

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.