Olin Co. (NYSE:OLN) Given Average Recommendation of "Hold" by Brokerages

Shares of Olin Co. (NYSE:OLN - Get Free Report) have been assigned a consensus recommendation of "Hold" from the sixteen ratings firms that are covering the stock, MarketBeat reports. One investment analyst has rated the stock with a sell rating, eleven have assigned a hold rating and four have issued a buy rating on the company. The average twelve-month target price among brokerages that have issued ratings on the stock in the last year is $38.38.

OLN has been the topic of a number of recent analyst reports. Barclays reissued an "equal weight" rating on shares of Olin in a research report on Monday, February 3rd. Bank of America raised Olin from a "neutral" rating to a "buy" rating and reduced their price objective for the company from $48.00 to $40.00 in a research report on Tuesday, January 14th. Truist Financial reduced their target price on shares of Olin from $38.00 to $32.00 and set a "hold" rating for the company in a research note on Monday, February 3rd. UBS Group set a $28.00 price target on Olin in a report on Thursday, February 27th. Finally, Wells Fargo & Company reissued an "equal weight" rating on shares of Olin in a report on Monday, February 3rd.

Insider Transactions at Olin

In related news, CEO Kenneth Todd Lane purchased 7,250 shares of Olin stock in a transaction dated Tuesday, February 4th. The shares were acquired at an average cost of $28.06 per share, for a total transaction of $203,435.00. Following the transaction, the chief executive officer now directly owns 7,250 shares of the company's stock, valued at approximately $203,435. This trade represents a ∞ increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link. 1.60% of the stock is owned by corporate insiders.

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Hedge Funds Weigh In On Olin

Several hedge funds have recently added to or reduced their stakes in the stock. Hotchkis & Wiley Capital Management LLC boosted its position in shares of Olin by 6.4% during the third quarter. Hotchkis & Wiley Capital Management LLC now owns 8,838,988 shares of the specialty chemicals company's stock worth $424,095,000 after purchasing an additional 531,330 shares in the last quarter. Fuller & Thaler Asset Management Inc. raised its holdings in shares of Olin by 11.5% during the fourth quarter. Fuller & Thaler Asset Management Inc. now owns 4,543,844 shares of the specialty chemicals company's stock worth $153,582,000 after acquiring an additional 467,680 shares during the period. Dimensional Fund Advisors LP lifted its position in Olin by 4.7% in the 4th quarter. Dimensional Fund Advisors LP now owns 3,976,869 shares of the specialty chemicals company's stock valued at $134,413,000 after acquiring an additional 178,145 shares in the last quarter. Pzena Investment Management LLC boosted its stake in Olin by 7.4% in the 4th quarter. Pzena Investment Management LLC now owns 3,709,611 shares of the specialty chemicals company's stock worth $125,385,000 after purchasing an additional 256,903 shares during the period. Finally, Millennium Management LLC increased its holdings in Olin by 9.1% during the 4th quarter. Millennium Management LLC now owns 3,201,233 shares of the specialty chemicals company's stock worth $108,202,000 after purchasing an additional 265,745 shares in the last quarter. Institutional investors and hedge funds own 88.67% of the company's stock.

Olin Stock Up 1.0 %

OLN traded up $0.24 during midday trading on Friday, hitting $24.88. 1,594,137 shares of the company's stock traded hands, compared to its average volume of 1,390,091. The company has a debt-to-equity ratio of 1.32, a current ratio of 1.27 and a quick ratio of 0.77. The company has a market cap of $2.87 billion, a PE ratio of 27.65 and a beta of 1.61. Olin has a one year low of $22.98 and a one year high of $60.60. The stock's fifty day simple moving average is $28.83 and its 200-day simple moving average is $37.31.

Olin (NYSE:OLN - Get Free Report) last issued its quarterly earnings data on Thursday, January 30th. The specialty chemicals company reported $0.09 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of ($0.01) by $0.10. Olin had a net margin of 1.66% and a return on equity of 5.10%. As a group, equities analysts anticipate that Olin will post 1.38 earnings per share for the current fiscal year.

Olin declared that its Board of Directors has initiated a stock repurchase plan on Thursday, December 12th that allows the company to repurchase $2.00 billion in outstanding shares. This repurchase authorization allows the specialty chemicals company to buy up to 45% of its shares through open market purchases. Shares repurchase plans are often a sign that the company's management believes its shares are undervalued.

Olin Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, March 14th. Stockholders of record on Thursday, March 6th were paid a dividend of $0.20 per share. This represents a $0.80 annualized dividend and a dividend yield of 3.21%. The ex-dividend date of this dividend was Thursday, March 6th. Olin's dividend payout ratio (DPR) is presently 88.89%.

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.