Olin Co. (NYSE:OLN) Receives Average Recommendation of “Buy” from Brokerages

Olin Co. (NYSE:OLN – Get Rating) has been assigned an average recommendation of “Buy” from the sixteen research firms that are currently covering the company, Marketbeat.com reports. Two research analysts have rated the stock with a hold recommendation and ten have issued a buy recommendation on the company. The average twelve-month price target among analysts that have issued ratings on the stock in the last year is $70.67.

Several equities research analysts have recently commented on OLN shares. Royal Bank of Canada increased their price objective on Olin from $76.00 to $83.00 in a report on Monday, May 2nd. Citigroup increased their price objective on Olin from $65.00 to $74.00 in a report on Monday, May 2nd. StockNews.com downgraded Olin from a “strong-buy” rating to a “buy” rating in a report on Saturday, April 30th. KeyCorp increased their price objective on Olin from $64.00 to $65.00 and gave the company an “overweight” rating in a report on Tuesday, April 5th. Finally, Barclays increased their price objective on Olin from $57.00 to $65.00 in a report on Monday, May 2nd.

In other Olin news, Director C Robert Bunch sold 43,293 shares of the stock in a transaction on Tuesday, May 17th. The stock was sold at an average price of $65.02, for a total transaction of $2,814,910.86. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, VP Brett A. Flaugher sold 9,000 shares of the stock in a transaction on Wednesday, May 4th. The stock was sold at an average price of $62.30, for a total value of $560,700.00. Following the transaction, the vice president now owns 43,628 shares in the company, valued at approximately $2,718,024.40. The disclosure for this sale can be found here. Insiders have sold a total of 57,793 shares of company stock valued at $3,727,226 in the last ninety days. Insiders own 9.00% of the company’s stock.

Several hedge funds and other institutional investors have recently modified their holdings of OLN. JPMorgan Chase & Co. increased its position in shares of Olin by 1,052.8% in the fourth quarter. JPMorgan Chase & Co. now owns 4,249,478 shares of the specialty chemicals company’s stock worth $244,430,000 after purchasing an additional 3,880,863 shares during the period. Norges Bank bought a new position in shares of Olin in the fourth quarter worth $86,053,000. Invesco Ltd. increased its position in shares of Olin by 37.3% in the fourth quarter. Invesco Ltd. now owns 4,391,847 shares of the specialty chemicals company’s stock worth $252,618,000 after purchasing an additional 1,193,359 shares during the period. Marshall Wace LLP increased its position in shares of Olin by 1,350.2% in the fourth quarter. Marshall Wace LLP now owns 1,147,699 shares of the specialty chemicals company’s stock worth $66,015,000 after purchasing an additional 1,068,558 shares during the period. Finally, Millennium Management LLC increased its position in shares of Olin by 158.5% in the third quarter. Millennium Management LLC now owns 1,528,577 shares of the specialty chemicals company’s stock worth $73,754,000 after purchasing an additional 937,229 shares during the period. Institutional investors own 81.79% of the company’s stock.

Shares of OLN opened at $63.62 on Tuesday. The stock has a market capitalization of $9.66 billion, a P/E ratio of 7.13 and a beta of 1.20. Olin has a twelve month low of $39.90 and a twelve month high of $65.54. The company has a 50 day moving average of $56.93 and a 200-day moving average of $54.95. The company has a quick ratio of 0.94, a current ratio of 1.49 and a debt-to-equity ratio of 0.93.

Olin (NYSE:OLN – Get Rating) last issued its quarterly earnings results on Thursday, April 28th. The specialty chemicals company reported $2.48 earnings per share for the quarter, topping the consensus estimate of $2.33 by $0.15. The company had revenue of $2.46 billion during the quarter, compared to analysts’ expectations of $2.35 billion. Olin had a net margin of 15.30% and a return on equity of 58.94%. On average, sell-side analysts anticipate that Olin will post 9.95 earnings per share for the current fiscal year.

The firm also recently declared a quarterly dividend, which will be paid on Friday, June 10th. Shareholders of record on Tuesday, May 10th will be issued a dividend of $0.20 per share. This represents a $0.80 annualized dividend and a yield of 1.26%. The ex-dividend date of this dividend is Monday, May 9th. Olin’s dividend payout ratio is 8.97%.

Olin Company Profile (Get Rating)

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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