Olin Co. (NYSE:OLN) Receives $50.14 Consensus Price Target from Brokerages

Shares of Olin Co. (NYSE:OLN - Get Free Report) have been given an average rating of "Hold" by the fourteen ratings firms that are currently covering the firm, Marketbeat.com reports. Eight equities research analysts have rated the stock with a hold recommendation and six have assigned a buy recommendation to the company. The average 12-month price objective among brokerages that have issued a report on the stock in the last year is $50.14.

A number of equities research analysts have issued reports on OLN shares. KeyCorp cut their price target on shares of Olin from $57.00 to $56.00 and set an "overweight" rating on the stock in a report on Monday, October 28th. Citigroup cut their target price on Olin from $48.00 to $45.00 and set a "buy" rating on the stock in a research note on Monday, December 16th. BMO Capital Markets lowered their price target on Olin from $50.00 to $47.00 and set a "market perform" rating for the company in a research report on Tuesday, October 29th. Royal Bank of Canada cut their price objective on Olin from $52.00 to $48.00 and set an "outperform" rating on the stock in a research report on Tuesday, October 29th. Finally, Piper Sandler decreased their target price on Olin from $57.00 to $51.00 and set an "overweight" rating for the company in a report on Wednesday, October 30th.

Insider Transactions at Olin

In other news, VP R Nichole Sumner sold 10,500 shares of the stock in a transaction that occurred on Friday, November 8th. The shares were sold at an average price of $43.75, for a total transaction of $459,375.00. Following the sale, the vice president now owns 24,056 shares in the company, valued at $1,052,450. This represents a 30.39 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. 1.60% of the stock is owned by insiders.

Hedge Funds Weigh In On Olin

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Farther Finance Advisors LLC increased its holdings in shares of Olin by 88.2% in the 3rd quarter. Farther Finance Advisors LLC now owns 589 shares of the specialty chemicals company's stock worth $28,000 after purchasing an additional 276 shares in the last quarter. nVerses Capital LLC purchased a new position in Olin in the 2nd quarter worth about $33,000. Covestor Ltd raised its position in Olin by 357.5% in the 3rd quarter. Covestor Ltd now owns 915 shares of the specialty chemicals company's stock worth $44,000 after buying an additional 715 shares during the last quarter. Capital Performance Advisors LLP bought a new position in Olin during the 3rd quarter valued at about $47,000. Finally, Denver PWM LLC purchased a new stake in shares of Olin during the 2nd quarter valued at about $59,000. 88.67% of the stock is owned by institutional investors.

Olin Trading Up 0.9 %

Shares of NYSE:OLN traded up $0.29 during trading on Friday, reaching $33.77. 1,605,452 shares of the company traded hands, compared to its average volume of 1,265,344. The company has a current ratio of 1.40, a quick ratio of 0.82 and a debt-to-equity ratio of 1.32. Olin has a 52-week low of $32.90 and a 52-week high of $60.60. The business's fifty day moving average is $40.44 and its 200-day moving average is $43.73. The firm has a market capitalization of $3.94 billion, a price-to-earnings ratio of 27.23, a P/E/G ratio of 1.51 and a beta of 1.43.

Olin Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, December 13th. Stockholders of record on Thursday, November 14th were given a $0.20 dividend. The ex-dividend date of this dividend was Thursday, November 14th. This represents a $0.80 dividend on an annualized basis and a dividend yield of 2.37%. Olin's dividend payout ratio is currently 64.52%.

Olin declared that its Board of Directors has authorized a stock repurchase plan on Thursday, December 12th that authorizes the company to buyback $2.00 billion in shares. This buyback authorization authorizes the specialty chemicals company to repurchase up to 45% of its stock through open market purchases. Stock buyback plans are typically a sign that the company's board of directors believes its shares are undervalued.

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.