Piper Sandler Boosts Olin (NYSE:OLN) Price Target to $75.00

Olin (NYSE:OLN) had its price objective lifted by Piper Sandler from $72.00 to $75.00 in a report issued on Monday, Benzinga reports. The brokerage currently has an overweight rating on the specialty chemicals company’s stock.

A number of other equities analysts also recently issued reports on OLN. The Goldman Sachs Group increased their price target on shares of Olin from $55.00 to $61.00 and gave the stock a neutral rating in a research note on Tuesday, January 30th. Wells Fargo & Company increased their price objective on Olin from $56.00 to $60.00 and gave the stock an equal weight rating in a report on Wednesday, April 3rd. Royal Bank of Canada boosted their target price on shares of Olin from $64.00 to $69.00 and gave the company an outperform rating in a report on Friday, April 19th. Citigroup boosted their price objective on shares of Olin from $63.00 to $67.00 and gave the stock a buy rating in a research note on Wednesday, April 10th. Finally, Stifel Nicolaus lifted their price objective on Olin from $65.00 to $66.00 and gave the company a buy rating in a research note on Monday, January 29th. Two research analysts have rated the stock with a sell rating, eight have given a hold rating and six have given a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of Hold and an average price target of $60.00.

Olin Stock Performance

Olin stock opened at $53.54 on Monday. The company has a current ratio of 1.38, a quick ratio of 0.80 and a debt-to-equity ratio of 1.22. The firm 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. Olin has a 1-year low of $41.71 and a 1-year high of $60.60. The firm has a 50-day moving average of $55.65 and a 200-day moving average of $51.70.

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

Olin Dividend Announcement

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

Insider Activity at Olin

In other Olin news, CEO Scott Mcdougald Sutton sold 15,000 shares of Olin stock in a transaction that occurred on Thursday, February 22nd. The shares were 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 approximately $3,954,667.50. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. In related news, VP Valerie A. Peters sold 71,800 shares of the firm’s 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 owns 19,469 shares of the company’s stock, valued at $1,022,511.88. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CEO Scott Mcdougald Sutton sold 15,000 shares of the company’s 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 sale, the chief executive officer now directly owns 75,327 shares of the company’s stock, valued at $3,954,667.50. The disclosure for this sale can be found here. Insiders have sold a total of 150,696 shares of company stock worth $7,906,997 over the last quarter. Company insiders own 1.80% of the company’s stock.

Institutional Investors Weigh In On Olin

A number of hedge funds have recently modified their holdings of 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 worth $25,000 after purchasing an additional 300 shares during the period. Covestor Ltd raised its stake in shares of Olin by 76.7% in the third quarter. Covestor Ltd now owns 659 shares of the specialty chemicals company’s stock worth $33,000 after buying an additional 286 shares during the period. Sandy Spring Bank lifted its position in shares of Olin by 145.6% during the 4th quarter. Sandy Spring Bank now owns 614 shares of the specialty chemicals company’s stock valued at $33,000 after buying an additional 364 shares in the last quarter. Motco bought a new position in shares of Olin during the 3rd quarter valued at approximately $40,000. Finally, ORG Partners LLC bought a new position in shares of Olin during the 3rd quarter valued at approximately $44,000. 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.