Truist Financial Cuts Olin (NYSE:OLN) Price Target to $25.00

Olin (NYSE:OLN - Free Report) had its price objective reduced by Truist Financial from $32.00 to $25.00 in a report issued on Monday,Benzinga reports. They currently have a hold rating on the specialty chemicals company's stock.

OLN has been the subject of a number of other reports. KeyCorp decreased their price target on Olin from $50.00 to $40.00 and set an "overweight" rating for the company in a research note on Monday, February 3rd. Piper Sandler lowered their price objective on shares of Olin from $33.00 to $26.00 and set a "neutral" rating for the company in a research report on Monday, April 7th. Royal Bank of Canada lowered Olin from an "outperform" rating to a "sector perform" rating and reduced their price objective for the stock from $45.00 to $30.00 in a research report on Tuesday, February 4th. UBS Group dropped their price target on shares of Olin from $34.00 to $21.00 and set a "neutral" rating on the stock in a research report on Monday, April 7th. Finally, Citigroup decreased their price objective on Olin from $34.00 to $30.00 and set a "buy" rating for the company in a report on Thursday, March 27th. One equities research analyst has rated the stock with a sell rating, eleven have given a hold rating and four have assigned a buy rating to the company. According to MarketBeat.com, Olin presently has an average rating of "Hold" and an average target price of $33.25.

Olin Trading Up 2.3 %

Shares of NYSE:OLN traded up $0.46 during midday trading on Monday, hitting $20.83. The company had a trading volume of 1,363,094 shares, compared to its average volume of 1,528,835. The stock has a market cap of $2.40 billion, a price-to-earnings ratio of 23.14 and a beta of 1.50. The firm has a fifty day simple moving average of $24.17 and a 200 day simple moving average of $33.63. The company has a current ratio of 1.27, a quick ratio of 0.77 and a debt-to-equity ratio of 1.32. Olin has a 12 month low of $17.66 and a 12 month high of $57.10.

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 the consensus estimate of ($0.01) by $0.10. Olin had a net margin of 1.66% and a return on equity of 5.10%. On average, analysts predict that Olin will post 1.38 EPS for the current year.

Olin Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, March 14th. Investors of record on Thursday, March 6th were paid a $0.20 dividend. The ex-dividend date was Thursday, March 6th. This represents a $0.80 annualized dividend and a dividend yield of 3.84%. Olin's payout ratio is presently 88.89%.

Insider Buying and Selling at Olin

In other Olin news, CEO Kenneth Todd Lane bought 7,250 shares of the company's stock in a transaction dated Tuesday, February 4th. The shares were purchased at an average price of $28.06 per share, for a total transaction of $203,435.00. Following the acquisition, the chief executive officer now owns 7,250 shares in the company, valued at approximately $203,435. This represents a ∞ increase in their position. The purchase was disclosed in a filing with the SEC, which can be accessed through this link. Insiders own 1.60% of the company's stock.

Institutional Trading of Olin

Several large investors have recently modified their holdings of OLN. Fifth Third Bancorp raised its position in Olin by 160.5% in the first quarter. Fifth Third Bancorp now owns 1,206 shares of the specialty chemicals company's stock worth $29,000 after acquiring an additional 743 shares during the period. Covestor Ltd grew its holdings in Olin by 45.8% during the fourth quarter. Covestor Ltd now owns 1,334 shares of the specialty chemicals company's stock valued at $45,000 after purchasing an additional 419 shares during the period. Spire Wealth Management increased its position in Olin by 246.8% in the fourth quarter. Spire Wealth Management now owns 1,616 shares of the specialty chemicals company's stock worth $55,000 after buying an additional 1,150 shares in the last quarter. Farther Finance Advisors LLC raised its stake in shares of Olin by 183.8% in the first quarter. Farther Finance Advisors LLC now owns 2,645 shares of the specialty chemicals company's stock worth $63,000 after buying an additional 1,713 shares during the period. Finally, CoreFirst Bank & Trust bought a new position in shares of Olin during the 4th quarter valued at approximately $66,000. Institutional investors own 88.67% of the company's stock.

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.