Olin (NYSE:OLN) PT Raised to $69.00 at Stifel Nicolaus

Olin (NYSE:OLN) had its price target upped by Stifel Nicolaus from $68.00 to $69.00 in a research note released on Monday, Benzinga reports. Stifel Nicolaus currently has a buy rating on the specialty chemicals company’s stock.

A number of other research firms have also recently weighed in on OLN. KeyCorp cut 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. Citigroup lifted their price target on Olin from $63.00 to $67.00 and gave the company a buy rating in a research note on Wednesday, April 10th. Wells Fargo & Company increased their price target on Olin from $56.00 to $60.00 and gave the stock an equal weight rating in a research report on Wednesday, April 3rd. The Goldman Sachs Group boosted their price objective on Olin from $55.00 to $61.00 and gave the company a neutral rating in a research report on Tuesday, January 30th. Finally, Royal Bank of Canada decreased their target price on Olin from $69.00 to $63.00 and set an outperform rating on the stock in a research report on Monday. Two equities research analysts have rated the stock with a sell rating, eight have assigned a hold rating and six have issued a buy rating to the company’s stock. According to data from MarketBeat.com, Olin presently has an average rating of Hold and a consensus price target of $60.00.

Olin Stock Performance

Shares of Olin stock opened at $53.54 on Monday. The firm has a market capitalization of $6.41 billion, a P/E ratio of 19.26, a PEG ratio of 0.29 and a beta of 1.44. Olin has a 52 week low of $41.71 and a 52 week high of $60.60. The company has a quick ratio of 0.80, a current ratio of 1.38 and a debt-to-equity ratio of 1.22. The company has a 50 day moving average price of $55.65 and a 200 day moving average price of $51.70.

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

Olin Dividend Announcement

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

Insider Activity at Olin

In related news, CEO Scott Mcdougald Sutton sold 15,000 shares of the stock in a transaction that occurred on Thursday, February 22nd. The stock was sold at an average price of $52.50, for a total value of $787,500.00. Following the completion of the sale, the chief executive officer now owns 75,327 shares of the company’s stock, valued at $3,954,667.50. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. In other Olin news, VP Valerie A. Peters sold 71,800 shares of Olin 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 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 available through the SEC website. Also, CEO Scott Mcdougald Sutton sold 15,000 shares of the stock in a transaction that occurred on Thursday, February 22nd. The shares were sold at an average price of $52.50, for a total transaction of $787,500.00. Following the completion of the sale, the chief executive officer now directly owns 75,327 shares of the company’s stock, valued at approximately $3,954,667.50. The disclosure for this sale can be found here. In the last quarter, insiders sold 150,696 shares of company stock valued at $7,906,997. Corporate insiders own 1.80% of the company’s stock.

Institutional Trading of Olin

Several institutional investors have recently made changes to their positions in OLN. Baystate Wealth Management LLC raised its holdings in Olin by 154.6% in the 3rd quarter. Baystate Wealth Management LLC now owns 494 shares of the specialty chemicals company’s stock valued at $25,000 after buying an additional 300 shares during the period. Covestor Ltd increased its position in shares of Olin by 76.7% during the third quarter. Covestor Ltd now owns 659 shares of the specialty chemicals company’s stock valued at $33,000 after acquiring an additional 286 shares during the last quarter. Sandy Spring Bank raised its stake in shares of Olin by 145.6% in the 4th quarter. Sandy Spring Bank now owns 614 shares of the specialty chemicals company’s stock valued at $33,000 after acquiring an additional 364 shares during the period. Motco acquired a new position in shares of Olin in the 3rd quarter worth approximately $40,000. Finally, ORG Partners LLC purchased a new position in shares of Olin during the 3rd quarter worth approximately $44,000. Hedge funds and other 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.