Olin (NYSE:OLN) Price Target Cut to $51.00 by Analysts at Piper Sandler

Olin (NYSE:OLN) had its price target cut by Piper Sandler from $57.00 to $51.00 in a report released on Wednesday, Benzinga reports. They currently have an overweight rating on the specialty chemicals company’s stock.

OLN has been the topic of a number of other research reports. KeyCorp reduced their price objective on Olin from $57.00 to $56.00 and set an “overweight” rating on the stock in a research note on Monday, October 28th. The Goldman Sachs Group cut their price target on Olin from $55.00 to $49.00 and set a “neutral” rating on the stock in a research note on Monday, July 29th. Wells Fargo & Company cut their price target on Olin from $48.00 to $44.00 and set an “equal weight” rating on the stock in a research note on Monday, October 28th. UBS Group cut their price target on Olin from $59.00 to $51.00 and set a “neutral” rating on the stock in a research note on Tuesday, July 9th. Finally, Royal Bank of Canada cut their price target on Olin from $52.00 to $48.00 and set an “outperform” rating on the stock in a research note on Tuesday. Eight research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. According to MarketBeat, Olin currently has a consensus rating of “Hold” and a consensus price target of $51.86.

Olin Trading Down 0.4 %

Shares of OLN opened at $40.86 on Wednesday. The stock’s 50-day moving average is $44.56 and its two-hundred day moving average is $47.69. The stock has a market cap of $4.76 billion, a PE ratio of 32.95, a P/E/G ratio of 1.53 and a beta of 1.41. Olin has a 12 month low of $39.47 and a 12 month high of $60.60. The company has a debt-to-equity ratio of 1.32, a current ratio of 1.40 and a quick ratio of 0.82.

Olin Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, December 13th. Stockholders of record on Thursday, November 14th will be issued a dividend of $0.20 per share. This represents a $0.80 annualized dividend and a dividend yield of 1.96%. The ex-dividend date of this dividend is Thursday, November 14th. Olin’s dividend payout ratio (DPR) is presently 64.52%.

Hedge Funds Weigh In On Olin

Institutional investors have recently made changes to their positions in the stock. AQR Capital Management LLC boosted its position in shares of Olin by 429.8% during the second quarter. AQR Capital Management LLC now owns 610,153 shares of the specialty chemicals company’s stock worth $28,769,000 after buying an additional 494,976 shares during the period. Boston Partners boosted its position in shares of Olin by 7.7% during the first quarter. Boston Partners now owns 5,414,265 shares of the specialty chemicals company’s stock worth $317,897,000 after buying an additional 384,888 shares during the period. Lodge Hill Capital LLC boosted its position in shares of Olin by 78.9% during the first quarter. Lodge Hill Capital LLC now owns 510,000 shares of the specialty chemicals company’s stock worth $29,988,000 after buying an additional 225,000 shares during the period. Dimensional Fund Advisors LP boosted its position in shares of Olin by 5.5% during the second quarter. Dimensional Fund Advisors LP now owns 3,741,007 shares of the specialty chemicals company’s stock worth $176,396,000 after buying an additional 194,755 shares during the period. Finally, Cubist Systematic Strategies LLC boosted its position in shares of Olin by 2,778.3% during the second quarter. Cubist Systematic Strategies LLC now owns 168,582 shares of the specialty chemicals company’s stock worth $7,949,000 after buying an additional 162,725 shares during the period. 88.67% of the stock is owned by institutional investors.

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.