BMO Capital Markets Issues Pessimistic Forecast for Olin (NYSE:OLN) Stock Price

by · The Cerbat Gem

Olin (NYSE:OLN – Free Report) had its price objective trimmed by BMO Capital Markets from $50.00 to $47.00 in a report published on Tuesday, Benzinga reports. The brokerage currently has a market perform rating on the specialty chemicals company’s stock.

Several other analysts also recently commented on OLN. JPMorgan Chase & Co. raised Olin from a “neutral” rating to an “overweight” rating and set a $55.00 price objective for the company in a research note on Monday, July 29th. UBS Group decreased their price target on Olin from $59.00 to $51.00 and set a “neutral” rating for the company in a research report on Tuesday, July 9th. Barclays decreased their price target on Olin from $49.00 to $45.00 and set an “equal weight” rating for the company in a research report on Monday, October 28th. Royal Bank of Canada decreased their price target on Olin from $52.00 to $48.00 and set an “outperform” rating for the company in a research report on Tuesday. Finally, Piper Sandler decreased their price target on Olin from $75.00 to $57.00 and set an “overweight” rating for the company in a research report on Tuesday, July 30th. Eight analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average target price of $51.86.

Check Out Our Latest Analysis on OLN

Olin Stock Down 0.4 %

OLN stock opened at $40.86 on Tuesday. The company has a market cap of $4.76 billion, a P/E ratio of 32.95, a price-to-earnings-growth ratio of 1.53 and a beta of 1.41. Olin has a fifty-two week low of $39.47 and a fifty-two week high of $60.60. The stock’s 50 day simple moving average is $44.56 and its 200 day simple moving average is $47.69. The company has a debt-to-equity ratio of 1.32, a quick ratio of 0.82 and a current ratio of 1.40.

Olin Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, December 13th. Stockholders of record on Thursday, November 14th will be issued a $0.20 dividend. This represents a $0.80 dividend on an annualized basis and a dividend yield of 1.96%. The ex-dividend date is Thursday, November 14th. Olin’s payout ratio is currently 64.52%.

Hedge Funds Weigh In On Olin

A number of large investors have recently made changes to their positions in OLN. OLD National Bancorp IN raised its position in shares of Olin by 4.2% in the second quarter. OLD National Bancorp IN now owns 6,343 shares of the specialty chemicals company’s stock worth $299,000 after buying an additional 253 shares in the last quarter. Farther Finance Advisors LLC raised its position in Olin by 88.2% during the third quarter. Farther Finance Advisors LLC now owns 589 shares of the specialty chemicals company’s stock valued at $28,000 after purchasing an additional 276 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. increased its holdings in shares of Olin by 26.2% in the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 1,534 shares of the specialty chemicals company’s stock worth $75,000 after buying an additional 318 shares during the period. Scott & Selber Inc. grew its stake in shares of Olin by 1.7% in the second quarter. Scott & Selber Inc. now owns 19,206 shares of the specialty chemicals company’s stock worth $906,000 after purchasing an additional 326 shares during the last quarter. Finally, Nisa Investment Advisors LLC boosted its position in Olin by 3.0% during the 3rd quarter. Nisa Investment Advisors LLC now owns 11,830 shares of the specialty chemicals company’s stock valued at $568,000 after acquiring an additional 350 shares in the last quarter. 88.67% of the stock is owned by institutional investors.

About Olin

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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.

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