Olin (NYSE:OLN) Upgraded at Fermium Researc

Fermium Researc upgraded shares of Olin (NYSE:OLN) to a strong-buy rating in a research report report published on Thursday morning,Zacks.com reports.

Several other equities research analysts have also recently commented on the stock. Mizuho cut their price target on shares of Olin from $24.00 to $23.00 and set a “neutral” rating on the stock in a research report on Tuesday, July 29th. Barclays cut their price target on shares of Olin from $28.00 to $24.00 and set an “equal weight” rating on the stock in a research report on Wednesday, May 28th. Royal Bank Of Canada cut their price target on shares of Olin from $25.00 to $23.00 and set a “sector perform” rating on the stock in a research report on Thursday, July 3rd. KeyCorp cut their price target on shares of Olin from $32.00 to $31.00 and set an “overweight” rating on the stock in a research report on Wednesday, July 30th. Finally, Wells Fargo & Company cut their price target on shares of Olin from $22.00 to $21.00 and set an “equal weight” rating on the stock in a research report on Wednesday, July 30th. One research analyst has rated the stock with a Strong Buy rating, three have given a Buy rating, ten have assigned a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average target price of $25.57.

Olin Trading Up 4.8%

OLN opened at $23.95 on Thursday. The stock has a market capitalization of $2.75 billion, a P/E ratio of -199.54 and a beta of 1.61. Olin has a 12 month low of $17.66 and a 12 month high of $49.60. The firm’s fifty day simple moving average is $22.33 and its 200 day simple moving average is $21.72. The company has a current ratio of 1.48, a quick ratio of 0.88 and a debt-to-equity ratio of 1.50.

Olin (NYSE:OLN) last posted its quarterly earnings data on Monday, July 28th. The specialty chemicals company reported $0.05 EPS for the quarter, missing the consensus estimate of $0.09 by ($0.04). The company had revenue of $1.76 billion during the quarter, compared to the consensus estimate of $1.68 billion. Olin had a negative net margin of 0.21% and a negative return on equity of 0.13%. The company’s revenue was up 7.0% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.62 earnings per share. As a group, research analysts anticipate that Olin will post 1.38 EPS for the current fiscal year.

Olin Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, September 12th. Investors of record on Thursday, August 28th were paid a $0.20 dividend. The ex-dividend date was Thursday, August 28th. This represents a $0.80 dividend on an annualized basis and a yield of 3.3%. Olin’s dividend payout ratio is -666.67%.

Insider Buying and Selling

In related news, VP Teresa M. Vermillion sold 6,000 shares of the company’s stock in a transaction dated Wednesday, August 13th. The shares were sold at an average price of $21.11, for a total value of $126,660.00. Following the transaction, the vice president owned 17,199 shares in the company, valued at approximately $363,070.89. This represents a 25.86% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 1.60% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently bought and sold shares of OLN. Fifth Third Bancorp boosted its holdings in Olin by 160.5% in the 1st quarter. Fifth Third Bancorp now owns 1,206 shares of the specialty chemicals company’s stock valued at $29,000 after purchasing an additional 743 shares during the period. Mirae Asset Global Investments Co. Ltd. bought a new stake in Olin in the 1st quarter valued at about $31,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. bought a new stake in Olin in the 1st quarter valued at about $32,000. Evelyn Partners Investment Management LLP boosted its holdings in Olin by 6,360.0% in the 2nd quarter. Evelyn Partners Investment Management LLP now owns 1,615 shares of the specialty chemicals company’s stock valued at $32,000 after purchasing an additional 1,590 shares during the period. Finally, UMB Bank n.a. boosted its holdings in Olin by 134.9% in the 2nd quarter. UMB Bank n.a. now owns 1,736 shares of the specialty chemicals company’s stock valued at $35,000 after purchasing an additional 997 shares during the period. Institutional investors and hedge funds own 88.67% of the company’s stock.

Olin 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.