Olin Co. (NYSE:OLN – Get Rating)’s stock price was down 6.9% on Wednesday after Royal Bank of Canada lowered their price target on the stock from $83.00 to $76.00. Royal Bank of Canada currently has an outperform rating on the stock. Olin traded as low as $52.68 and last traded at $53.28. Approximately 38,507 shares traded hands during mid-day trading, a decline of 98% from the average daily volume of 1,936,169 shares. The stock had previously closed at $57.21.

Several other brokerages also recently weighed in on OLN. Barclays increased their price target on shares of Olin from $57.00 to $65.00 in a report on Monday, May 2nd. Bank of America cut their price target on shares of Olin from $81.00 to $72.00 and set a “buy” rating on the stock in a report on Tuesday. KeyCorp upped their price objective on Olin from $64.00 to $65.00 and gave the stock an “overweight” rating in a research report on Tuesday, April 5th. StockNews.com upgraded Olin from a “buy” rating to a “strong-buy” rating in a research report on Thursday, June 2nd. Finally, Citigroup upped their price objective on Olin from $65.00 to $74.00 in a research report on Monday, May 2nd. Two analysts have rated the stock with a hold rating, nine have given a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Buy” and an average price target of $73.45.

In other Olin news, VP Valerie A. Peters sold 5,500 shares of the firm’s stock in a transaction on Wednesday, May 18th. The stock was sold at an average price of $63.93, for a total value of $351,615.00. Following the transaction, the vice president now owns 4,082 shares in the company, valued at approximately $260,962.26. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Scott D. Ferguson sold 2,500,000 shares of the firm’s stock in a transaction on Monday, May 23rd. The shares were sold at an average price of $60.98, for a total value of $152,450,000.00. Following the completion of the transaction, the director now owns 9,465,160 shares in the company, valued at approximately $577,185,456.80. The disclosure for this sale can be found here. Insiders have sold a total of 2,595,576 shares of company stock worth $158,624,719 in the last quarter. Insiders own 9.00% of the company’s stock.

A number of hedge funds have recently made changes to their positions in OLN. New York State Teachers Retirement System increased its stake in shares of Olin by 34.6% in the 4th quarter. New York State Teachers Retirement System now owns 189,169 shares of the specialty chemicals company’s stock worth $10,881,000 after acquiring an additional 48,590 shares during the last quarter. Raymond James & Associates increased its stake in shares of Olin by 40.6% in the 4th quarter. Raymond James & Associates now owns 189,732 shares of the specialty chemicals company’s stock worth $10,913,000 after acquiring an additional 54,793 shares during the last quarter. Connectus Wealth LLC acquired a new stake in shares of Olin in the 4th quarter worth $1,493,000. Searle & CO. increased its stake in shares of Olin by 2.7% in the 4th quarter. Searle & CO. now owns 30,300 shares of the specialty chemicals company’s stock worth $1,743,000 after acquiring an additional 800 shares during the last quarter. Finally, State of Alaska Department of Revenue increased its stake in shares of Olin by 36.4% in the 4th quarter. State of Alaska Department of Revenue now owns 30,233 shares of the specialty chemicals company’s stock worth $1,738,000 after acquiring an additional 8,070 shares during the last quarter. Institutional investors own 81.79% of the company’s stock.

The firm has a market capitalization of $8.16 billion, a price-to-earnings ratio of 5.97 and a beta of 1.20. The business has a 50 day simple moving average of $60.47 and a 200-day simple moving average of $55.27. The company has a debt-to-equity ratio of 0.93, a quick ratio of 0.94 and a current ratio of 1.49.

Olin (NYSE:OLN – Get Rating) last issued its earnings results on Thursday, April 28th. The specialty chemicals company reported $2.48 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.33 by $0.15. The business had revenue of $2.46 billion during the quarter, compared to the consensus estimate of $2.35 billion. Olin had a return on equity of 58.94% and a net margin of 15.30%. Equities analysts predict that Olin Co. will post 10.1 earnings per share for the current fiscal year.

The firm also recently disclosed a quarterly dividend, which was paid on Friday, June 10th. Investors of record on Tuesday, May 10th were given a dividend of $0.20 per share. This represents a $0.80 dividend on an annualized basis and a dividend yield of 1.49%. The ex-dividend date was Monday, May 9th. Olin’s payout ratio is 8.97%.

About Olin (NYSE:OLN)

Olin Corporation manufactures and distributes chemical products in the United States, Europe, and internationally. 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, chlorinated organics intermediates and solvents, and sodium hypochlorite.

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