Brokerages Set Olin Co. (NYSE:OLN) Price Target at $51.86

Olin Co. (NYSE:OLN - Get Free Report) has been assigned an average recommendation of "Hold" from the fourteen brokerages that are presently covering the stock, MarketBeat Ratings reports. Eight analysts have rated the stock with a hold recommendation and six have given a buy recommendation to the company. The average twelve-month price target among analysts that have covered the stock in the last year is $51.86.

Several equities research analysts recently commented on the stock. BMO Capital Markets dropped their price objective on shares of Olin from $50.00 to $47.00 and set a "market perform" rating on the stock in a research note on Tuesday, October 29th. Wells Fargo & Company dropped their price objective on shares of Olin from $48.00 to $44.00 and set an "equal weight" rating on the stock in a research note on Monday, October 28th. Barclays dropped their price objective on shares of Olin from $49.00 to $45.00 and set an "equal weight" rating on the stock in a research note on Monday, October 28th. Royal Bank of Canada dropped their price objective on shares of Olin from $52.00 to $48.00 and set an "outperform" rating on the stock in a research note on Tuesday, October 29th. Finally, Piper Sandler decreased their target price on shares of Olin from $57.00 to $51.00 and set an "overweight" rating for the company in a report on Wednesday, October 30th.

Insider Activity at Olin

In related news, VP R Nichole Sumner sold 10,500 shares of the business's 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 completion of the sale, the vice president now directly owns 24,056 shares in the company, valued at approximately $1,052,450. The trade was a 30.39 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. 1.80% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Olin

Hedge funds have recently modified their holdings of the company. EverSource Wealth Advisors LLC boosted its position in shares of Olin by 4,375.0% in the first quarter. EverSource Wealth Advisors LLC now owns 537 shares of the specialty chemicals company's stock worth $32,000 after purchasing an additional 525 shares during the period. Farther Finance Advisors LLC boosted its position in shares of Olin by 88.2% during the third quarter. Farther Finance Advisors LLC now owns 589 shares of the specialty chemicals company's stock worth $28,000 after acquiring an additional 276 shares during the last quarter. nVerses Capital LLC bought a new position in shares of Olin during the second quarter worth $33,000. Covestor Ltd boosted its position in shares of Olin by 357.5% during the third quarter. Covestor Ltd now owns 915 shares of the specialty chemicals company's stock worth $44,000 after acquiring an additional 715 shares during the last quarter. Finally, Capital Performance Advisors LLP bought a new position in shares of Olin during the third quarter worth $47,000. 88.67% of the stock is currently owned by institutional investors.

Olin Trading Down 1.7 %

Shares of OLN traded down $0.74 during trading hours on Wednesday, reaching $41.66. 385,880 shares of the company traded hands, compared to its average volume of 1,192,799. The company's fifty day moving average price is $44.32 and its two-hundred day moving average price is $45.77. The company has a market capitalization of $4.86 billion, a price-to-earnings ratio of 33.50, a price-to-earnings-growth ratio of 1.76 and a beta of 1.43. 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 has a 12 month low of $39.47 and a 12 month high of $60.60.

Olin Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, December 13th. Investors of record on Thursday, November 14th will be given a dividend of $0.20 per share. The ex-dividend date is Thursday, November 14th. This represents a $0.80 annualized dividend and a yield of 1.92%. Olin's dividend payout ratio (DPR) is 64.52%.

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.