Olin (NYSE:OLN) Price Target Lowered to $63.00 at Royal Bank of Canada

Olin (NYSE:OLN) had its target price trimmed by Royal Bank of Canada from $69.00 to $63.00 in a research note published on Monday morning, Benzinga reports. The firm currently has an outperform rating on the specialty chemicals company’s stock.

OLN has been the subject of several other research reports. Bank of America reduced their target price on shares of Olin from $74.00 to $72.00 and set a buy rating for the company in a research note on Monday. KeyCorp lowered their price objective on shares of Olin from $78.00 to $73.00 and set an overweight rating for the company in a report on Monday. The Goldman Sachs Group upped their price target on shares of Olin from $55.00 to $61.00 and gave the company a neutral rating in a report on Tuesday, January 30th. Wells Fargo & Company upped their price target on shares of Olin from $56.00 to $60.00 and gave the company an equal weight rating in a report on Wednesday, April 3rd. Finally, Citigroup upped their price target on shares of Olin from $63.00 to $67.00 and gave the company a buy rating in a report on Wednesday, April 10th. Two equities research analysts have rated the stock with a sell rating, eight have assigned a hold rating and six have assigned a buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of Hold and a consensus price target of $60.00.

Olin Stock Performance

Shares of OLN stock opened at $53.54 on Monday. The firm has a 50-day moving average of $55.65 and a 200-day moving average of $51.70. The company has a market cap of $6.41 billion, a P/E ratio of 19.26, a P/E/G ratio of 0.29 and a beta of 1.44. The company has a debt-to-equity ratio of 1.22, a current ratio of 1.38 and a quick ratio of 0.80. Olin has a one year low of $41.71 and a one year high of $60.60.

Olin (NYSE:OLN) last posted its quarterly earnings results on Friday, April 26th. The specialty chemicals company reported $0.40 earnings per share for the quarter, beating the consensus estimate of $0.38 by $0.02. The company had revenue of $1.64 billion during the quarter, compared to analyst estimates of $1.65 billion. Olin had a net margin of 5.32% and a return on equity of 14.47%. The firm’s revenue for the quarter was down 11.3% on a year-over-year basis. During the same quarter in the prior year, the business earned $1.16 earnings per share. Equities research analysts forecast that Olin will post 3.73 EPS for the current fiscal year.

Olin Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, June 14th. Stockholders of record on Thursday, May 9th will be given a $0.20 dividend. This represents a $0.80 dividend on an annualized basis and a dividend yield of 1.49%. The ex-dividend date is Wednesday, May 8th. Olin’s dividend payout ratio is presently 28.78%.

Insider Transactions at Olin

In related news, CEO Scott Mcdougald Sutton sold 48,896 shares of the stock in a transaction dated Tuesday, February 27th. The shares were sold at an average price of $52.39, for a total transaction of $2,561,661.44. Following the sale, the chief executive officer now directly owns 90,327 shares of the company’s stock, valued at approximately $4,732,231.53. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In related news, CEO Scott Mcdougald Sutton sold 48,896 shares of the stock in a transaction dated Tuesday, February 27th. The shares were sold at an average price of $52.39, for a total transaction of $2,561,661.44. Following the sale, the chief executive officer now directly owns 90,327 shares of the company’s stock, valued at approximately $4,732,231.53. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, VP Valerie A. Peters sold 71,800 shares of the stock in a transaction dated Wednesday, January 31st. The shares were sold at an average price of $52.52, for a total transaction of $3,770,936.00. Following the sale, the vice president now directly owns 19,469 shares in the company, valued at $1,022,511.88. The disclosure for this sale can be found here. Insiders have sold 150,696 shares of company stock valued at $7,906,997 in the last three months. 1.80% of the stock is currently owned by company insiders.

Institutional Trading of Olin

Institutional investors have recently bought and sold shares of the company. SG Americas Securities LLC lifted its stake in Olin by 59.2% during the 3rd quarter. SG Americas Securities LLC now owns 24,824 shares of the specialty chemicals company’s stock valued at $1,241,000 after acquiring an additional 9,232 shares during the period. Xponance Inc. lifted its stake in Olin by 3.0% during the 3rd quarter. Xponance Inc. now owns 15,174 shares of the specialty chemicals company’s stock valued at $758,000 after acquiring an additional 444 shares during the period. FinTrust Capital Advisors LLC lifted its stake in Olin by 651.4% during the 3rd quarter. FinTrust Capital Advisors LLC now owns 37,569 shares of the specialty chemicals company’s stock valued at $1,878,000 after acquiring an additional 32,569 shares during the period. Raymond James Financial Services Advisors Inc. lifted its stake in shares of Olin by 209.4% in the 3rd quarter. Raymond James Financial Services Advisors Inc. now owns 50,657 shares of the specialty chemicals company’s stock worth $2,532,000 after purchasing an additional 34,285 shares during the period. Finally, Arnhold LLC lifted its stake in shares of Olin by 29.8% in the 3rd quarter. Arnhold LLC now owns 225,338 shares of the specialty chemicals company’s stock worth $11,262,000 after purchasing an additional 51,768 shares during the period. 88.67% of the stock is owned by hedge funds and other 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.