In yesterday’s Wall Street session, Olin Corporation (NYSE:OLN) shares traded at $55.60, up 4.32% from the previous session.
As we calculate the median target price by taking the range between a high of $85.00 and a low of $46.00, we find $64.00. Given the previous closing price of $53.30, this indicates a potential upside of 20.08 percent. OLN stock price is now 7.02% away from the 50-day moving average and 2.90% away from the 200-day moving average. The market capitalization of the company currently stands at $6.95B.
Brokers who have rated the stock have averaged $63.73 as their price target over the next twelve months.
With the price target reduced from $68 to $53, UBS Downgraded its rating from Buy to Neutral for Olin Corporation (NYSE: OLN).
In other news, PETERS VALERIE A, VP, HR sold 46 shares of the company’s stock on May 10. The stock was sold for $2,477 at an average price of $54.07. Upon completion of the transaction, the VP, HR now directly owns 4,108 shares in the company, valued at $0.23 million. An SEC document containing details of the transaction can be found on the SEC’s website. On Feb 16, VP & Pres, Epoxy & Corp Strat. Gumpel Damian sold 13,000 shares of the business’s stock. A total of $814,410 was realized by selling the stock at an average price of $62.65. This leaves the insider owning 17,155 shares of the company worth $0.95 million. Insiders disposed of 113,530 shares of company stock worth roughly $6.31 million over the past 1 year. A total of 1.10% of the company’s stock is owned by insiders.
There have been several recent changes in the stakes of large investors in OLN stock. A new stake in Olin Corporation shares was purchased by EXODUSPOINT CAPITAL MANAGEMENT, LP during the first quarter worth $29,384,000. HRT FINANCIAL LP invested $20,670,000 in shares of OLN during the first quarter. In the first quarter, ASSENAGON ASSET MANAGEMENT S.A. acquired a new stake in Olin Corporation valued at approximately $8,332,000. MOUNTAINEER PARTNERS MANAGEMENT, LLC acquired a new stake in OLN for approximately $6,894,000. STATE OF NEW JERSEY COMMON PENSION FUND D purchased a new stake in OLN valued at around $4,129,000 in the second quarter. In total, there are 608 active investors with 90.70% ownership of the company’s stock.
On Wednesday morning Olin Corporation (NYSE: OLN) stock kicked off with the opening price of $53.50. During the past 12 months, Olin Corporation has had a low of $41.33 and a high of $64.70. As of last week, the company has a debt-to-equity ratio of 1.11, a current ratio of 1.60, and a quick ratio of 0.80. According to the stock market information, the enterprise value for the company is $10.14B, which is based on a 7.38 price-to-earnings ratio, a 0.49 price-to-earnings-growth ratio, and a beta of 1.43. The fifty day moving average price for OLN is $51.96 and a two-hundred day moving average price translates $54.09 for the stock.
The latest earnings results from Olin Corporation (NYSE: OLN) was released for Mar, 2023. According to the Specialty Chemicals Company, earnings per share came in at $1.61, beating analysts’ expectations of $1.33 by 0.28. This compares to $2.48 EPS in the same period last year. The net profit margin was 12.40% and return on equity was 42.40% for OLN. The company reported revenue of $1.84 billion for the quarter, compared to $2.46 billion a year earlier. Comparatively to last year’s same quarter, the company’s quarterly revenue fell -25.07 percent. For the current quarter, analysts expect OLN to generate $1.86B in revenue.
Moreover, the firm recently paid out its quarterly dividend on 06/09/2023. Investors who held shares on 05/11/2023 were paid a $0.20 dividend. On an annualized basis, this represents a $0.80 dividend and a 1.44% percent yield. There was an ex-dividend date of 05/10/2023 for this dividend. In terms of dividend payout ratio, OLN is presently at 10.40%.
Olin Corporation(OLN) 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. The Epoxy segment provides Allylics, such as allyl chloride, epichlorohydrin, and glycerin; aromatics, including acetone, bisphenol, cumene, and phenol; liquid and solid epoxy resins; and converted epoxy resins and additives. The Winchester segment offers sporting ammunition products, including shotshells, small caliber centerfire, and rimfire ammunition products for hunters and recreational shooters, and law enforcement agencies; small caliber military ammunition products for use in infantry and mounted weapons; and industrial products comprising gauge loads and powder-actuated tool loads for maintenance applications in power and concrete industries, and powder-actuated tools in construction industry. The company markets its products through its sales force, as well as directly to various industrial customers, mass merchants, retailers, wholesalers, other distributors, and the U.S. Government and its prime contractors. Olin Corporation was incorporated in 1892 and is based in Clayton, Missouri.
