Olin’s (OLN) “Sell (D+)” Rating Reaffirmed at Weiss Ratings

Olin (NYSE:OLN)‘s stock had its “sell (d+)” rating reissued by equities research analysts at Weiss Ratings in a report issued on Saturday,Weiss Ratings reports.

Other equities research analysts have also issued research reports about the stock. 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 report on Wednesday, July 30th. UBS Group upped their price objective on shares of Olin from $21.00 to $24.00 and gave the company a “neutral” rating in a research note on Monday, October 6th. Citigroup lowered shares of Olin from a “buy” rating to a “neutral” rating and set a $25.00 price objective on the stock. in a research note on Thursday, October 2nd. Wells Fargo & Company upped their price objective on shares of Olin from $21.00 to $25.00 and gave the company an “equal weight” rating in a research note on Tuesday, October 7th. Finally, Royal Bank Of Canada set a $26.00 price objective on shares of Olin and gave the company a “sector perform” rating in a research note on Tuesday, October 14th. One analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating, eleven have assigned a Hold rating and two have assigned a Sell rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Hold” and an average target price of $25.71.

Olin Stock Up 0.3%

NYSE OLN opened at $24.05 on Friday. The company has a debt-to-equity ratio of 1.50, a current ratio of 1.48 and a quick ratio of 0.88. The company’s 50 day simple moving average is $24.03 and its 200 day simple moving average is $21.85. Olin has a 12 month low of $17.66 and a 12 month high of $44.76. The company has a market capitalization of $2.76 billion, a P/E ratio of -200.44 and a beta of 1.68.

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

Insider Buying and Selling

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

Institutional Trading of Olin

Large investors have recently modified their holdings of the company. Mirae Asset Global Investments Co. Ltd. bought a new stake in shares of Olin during the 1st quarter worth $31,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. bought a new stake in Olin in the 1st quarter valued at $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. Allworth Financial LP boosted its holdings in Olin by 188.5% in the 1st quarter. Allworth Financial LP now owns 1,676 shares of the specialty chemicals company’s stock valued at $37,000 after purchasing an additional 1,095 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. 88.67% of the stock is owned by institutional investors.

About Olin

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.