Wells Fargo & Company Cuts Olin (NYSE:OLN) Price Target to $16.00

by · The Cerbat Gem

Olin (NYSE:OLN – Free Report) had its price target decreased by Wells Fargo & Company from $20.00 to $16.00 in a report issued on Thursday, Marketbeat reports. Wells Fargo & Company currently has an equal weight rating on the specialty chemicals company’s stock.

A number of other equities analysts have also recently issued reports on the company. Deutsche Bank Aktiengesellschaft lowered their target price on Olin from $30.00 to $20.00 and set a “hold” rating for the company in a report on Tuesday, August 25th. Citigroup cut their price target on Olin from $19.00 to $17.00 and set a “neutral” rating on the stock in a research note on Wednesday. Weiss Ratings restated a “sell (d)” rating on shares of Olin in a report on Wednesday, August 19th. The Goldman Sachs Group set a $18.00 price objective on Olin in a research note on Wednesday. Finally, Truist Financial dropped their price objective on shares of Olin from $24.00 to $20.00 and set a “hold” rating for the company in a report on Monday, August 3rd. One investment analyst has rated the stock with a Buy rating, eleven have given a Hold rating and three have issued a Sell rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Reduce” and an average target price of $21.15.

Get Our Latest Analysis on Olin

Olin Price Performance

Shares of NYSE:OLN opened at $15.88 on Thursday. Olin has a one year low of $14.95 and a one year high of $30.46. The company has a debt-to-equity ratio of 1.77, a current ratio of 1.42 and a quick ratio of 0.87. The company has a market cap of $1.81 billion, a price-to-earnings ratio of -12.91 and a beta of 1.23. The firm has a 50 day simple moving average of $17.90 and a 200 day simple moving average of $22.69.

Olin (NYSE:OLN – Get Free Report) last posted its earnings results on Thursday, July 30th. The specialty chemicals company reported ($0.12) earnings per share for the quarter, missing analysts’ consensus estimates of $0.13 by ($0.25). Olin had a negative return on equity of 4.76% and a negative net margin of 2.08%.The company had revenue of $1.74 billion for the quarter, compared to the consensus estimate of $1.81 billion. During the same period in the previous year, the firm posted ($0.01) EPS. The business’s quarterly revenue was down .9% compared to the same quarter last year. Research analysts predict that Olin will post -0.68 earnings per share for the current fiscal year.

Olin Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, September 11th. Shareholders of record on Thursday, August 27th were given a $0.20 dividend. This represents a $0.80 dividend on an annualized basis and a dividend yield of 5.0%. The ex-dividend date was Thursday, August 27th. Olin’s payout ratio is -65.04%.

Institutional Investors Weigh In On Olin

Several institutional investors and hedge funds have recently made changes to their positions in the stock. Values First Advisors Inc. increased its position in shares of Olin by 3.4% during the 1st quarter. Values First Advisors Inc. now owns 12,909 shares of the specialty chemicals company’s stock valued at $384,000 after purchasing an additional 425 shares during the last quarter. Oregon Public Employees Retirement Fund boosted its stake in shares of Olin by 2.2% during the 1st quarter. Oregon Public Employees Retirement Fund now owns 23,302 shares of the specialty chemicals company’s stock worth $693,000 after acquiring an additional 500 shares during the last quarter. First Citizens Bank & Trust Co. boosted its stake in shares of Olin by 2.0% during the 1st quarter. First Citizens Bank & Trust Co. now owns 31,230 shares of the specialty chemicals company’s stock worth $928,000 after acquiring an additional 609 shares during the last quarter. Rockefeller Capital Management L.P. grew its position in shares of Olin by 115.2% during the 4th quarter. Rockefeller Capital Management L.P. now owns 1,231 shares of the specialty chemicals company’s stock valued at $26,000 after acquiring an additional 659 shares during the period. Finally, ARGA Investment Management LP grew its position in shares of Olin by 2.5% during the 1st quarter. ARGA Investment Management LP now owns 61,315 shares of the specialty chemicals company’s stock valued at $1,823,000 after acquiring an additional 1,502 shares during the period. Institutional investors and hedge funds own 88.67% of the company’s stock.

Olin Company Profile

(Get Free Report)

Olin Corporation is a global manufacturer of chemical products and ammunition. The company operates through its Chlor Alkali Products and Vinyls, Epoxy, and Winchester businesses, serving customers in a range of industrial, commercial, and consumer markets.

Olin’s Chlor Alkali Products and Vinyls business produces chlorine, caustic soda, hydrochloric acid, hydrogen, bleach products, chlorinated organic chemicals, and related materials used in water treatment, construction, pulp and paper, energy, and other manufacturing applications.

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