Olin (NYSE:OLN) Price Target Raised to $69.00

Olin (NYSE:OLN) had its price target raised by Royal Bank of Canada from $64.00 to $69.00 in a research note published on Friday, Benzinga reports. Royal Bank of Canada currently has an outperform rating on the specialty chemicals company’s stock.

Several other equities research analysts also recently issued reports on the stock. KeyCorp raised their target price on shares of Olin from $66.00 to $78.00 and gave the company an overweight rating in a research note on Tuesday, April 9th. Wells Fargo & Company raised their target price on shares of Olin from $56.00 to $60.00 and gave the company an equal weight rating in a research note on Wednesday, April 3rd. Barclays raised their target price on shares of Olin from $57.00 to $59.00 and gave the company an equal weight rating in a research note on Thursday, April 4th. The Goldman Sachs Group raised their target price on shares of Olin from $55.00 to $61.00 and gave the company a neutral rating in a research note on Tuesday, January 30th. Finally, UBS Group raised their price objective on shares of Olin from $56.00 to $58.00 and gave the stock a neutral rating in a research report on Friday, January 26th. Two research analysts have rated the stock with a sell rating, eight have assigned a hold rating and five have assigned a buy rating to the company’s stock. Based on data from MarketBeat, Olin presently has a consensus rating of Hold and an average price target of $59.33.

Olin Price Performance

Shares of NYSE OLN opened at $53.58 on Friday. The stock has a market capitalization of $6.41 billion, a price-to-earnings ratio of 15.14, a PEG ratio of 0.29 and a beta of 1.44. The business has a 50-day moving average of $55.48 and a 200-day moving average of $51.43. The company has a debt-to-equity ratio of 1.14, a current ratio of 1.29 and a quick ratio of 0.73. Olin has a fifty-two week low of $41.71 and a fifty-two week high of $60.60.

Olin (NYSE:OLN) last issued its earnings results on Thursday, January 25th. The specialty chemicals company reported $0.30 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.20 by $0.10. Olin had a net margin of 6.74% and a return on equity of 18.44%. The business had revenue of $1.61 billion during the quarter, compared to the consensus estimate of $1.50 billion. As a group, sell-side analysts predict that Olin will post 3.75 earnings per share for the current fiscal year.

Olin Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, March 15th. Stockholders of record on Thursday, March 7th were given a $0.20 dividend. The ex-dividend date was Wednesday, March 6th. This represents a $0.80 dividend on an annualized basis and a dividend yield of 1.49%. Olin’s payout ratio is 22.60%.

Insider Activity

In related news, VP Valerie A. Peters sold 71,800 shares of Olin stock in a transaction that occurred on Wednesday, January 31st. The shares were sold at an average price of $52.52, for a total value of $3,770,936.00. Following the transaction, the vice president now directly owns 19,469 shares of the company’s stock, valued at $1,022,511.88. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In related news, VP Valerie A. Peters sold 71,800 shares of Olin stock in a transaction that occurred on Wednesday, January 31st. The shares were sold at an average price of $52.52, for a total value of $3,770,936.00. Following the transaction, the vice president now directly owns 19,469 shares of the company’s stock, valued at $1,022,511.88. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Scott Mcdougald Sutton sold 539,328 shares of the business’s stock in a transaction on Tuesday, January 30th. The stock was sold at an average price of $53.96, for a total transaction of $29,102,138.88. Following the sale, the chief executive officer now directly owns 47,620 shares in the company, valued at approximately $2,569,575.20. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 753,274 shares of company stock worth $40,434,124. Corporate insiders own 1.60% of the company’s stock.

Institutional Trading of Olin

Several institutional investors have recently modified their holdings of the business. Arbor Capital Management Inc. ADV grew its stake in shares of Olin by 0.5% in the first quarter. Arbor Capital Management Inc. ADV now owns 38,729 shares of the specialty chemicals company’s stock worth $2,224,000 after purchasing an additional 199 shares during the last quarter. Price T Rowe Associates Inc. MD lifted its holdings in Olin by 0.5% in the second quarter. Price T Rowe Associates Inc. MD now owns 42,285 shares of the specialty chemicals company’s stock valued at $1,957,000 after buying an additional 216 shares during the period. Captrust Financial Advisors lifted its holdings in Olin by 3.3% in the third quarter. Captrust Financial Advisors now owns 6,834 shares of the specialty chemicals company’s stock valued at $293,000 after buying an additional 217 shares during the period. Ritholtz Wealth Management raised its holdings in shares of Olin by 1.5% during the fourth quarter. Ritholtz Wealth Management now owns 16,389 shares of the specialty chemicals company’s stock valued at $884,000 after purchasing an additional 238 shares during the period. Finally, U.S. Capital Wealth Advisors LLC raised its holdings in shares of Olin by 5.8% during the first quarter. U.S. Capital Wealth Advisors LLC now owns 4,714 shares of the specialty chemicals company’s stock valued at $246,000 after purchasing an additional 259 shares during the period. Institutional investors 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.