Olin Corporation (NYSE:OLN) Given Consensus Rating of “Hold” by Brokerages

Shares of Olin Corporation (NYSE:OLN) have been assigned a consensus rating of “Hold” from the eighteen research firms that are presently covering the firm, Marketbeat Ratings reports. Three equities research analysts have rated the stock with a sell recommendation, twelve have given a hold recommendation, two have issued a buy recommendation and one has given a strong buy recommendation to the company. The average 12-month price target among brokerages that have updated their coverage on the stock in the last year is $23.20.

Several equities analysts recently weighed in on the company. KeyCorp dropped their price objective on Olin from $29.00 to $26.00 and set an “overweight” rating for the company in a research note on Monday, February 2nd. Weiss Ratings reissued a “sell (d+)” rating on shares of Olin in a report on Thursday, January 22nd. Mizuho lifted their price target on Olin from $22.00 to $24.00 and gave the stock a “neutral” rating in a research note on Tuesday, February 17th. Royal Bank Of Canada decreased their price objective on shares of Olin from $24.00 to $21.00 and set a “sector perform” rating on the stock in a research report on Monday, February 2nd. Finally, UBS Group set a $21.00 price objective on shares of Olin in a research note on Monday, February 2nd.

Olin Price Performance

Shares of NYSE OLN opened at $23.92 on Friday. The company has a debt-to-equity ratio of 1.45, a quick ratio of 0.81 and a current ratio of 1.21. Olin has a one year low of $17.66 and a one year high of $27.35. The firm has a market capitalization of $2.72 billion, a P/E ratio of -62.95 and a beta of 1.64. The company’s fifty day moving average is $23.09 and its two-hundred day moving average is $22.62.

Olin (NYSE:OLN) last issued its earnings results on Thursday, January 29th. The specialty chemicals company reported ($0.58) earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of ($0.58). The company had revenue of $1.67 billion during the quarter, compared to analysts’ expectations of $1.61 billion. Olin had a negative net margin of 0.63% and a negative return on equity of 0.48%. The firm’s quarterly revenue was down .4% compared to the same quarter last year. During the same period last year, the company posted $0.09 earnings per share. Analysts forecast that Olin will post 1.38 EPS for the current fiscal year.

Olin Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, March 13th. Stockholders of record on Tuesday, March 3rd will be paid a dividend of $0.20 per share. This represents a $0.80 dividend on an annualized basis and a dividend yield of 3.3%. The ex-dividend date of this dividend is Tuesday, March 3rd. Olin’s dividend payout ratio (DPR) is -210.53%.

Insider Buying and Selling

In related news, VP R Nichole Sumner sold 4,750 shares of Olin stock in a transaction that occurred on Tuesday, February 3rd. The stock was sold at an average price of $22.49, for a total transaction of $106,827.50. Following the completion of the transaction, the vice president directly owned 24,771 shares in the company, valued at $557,099.79. The trade was a 16.09% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CFO Todd A. Slater sold 92,250 shares of the stock in a transaction on Tuesday, February 3rd. The shares were sold at an average price of $22.48, for a total value of $2,073,780.00. Following the sale, the chief financial officer owned 44,291 shares in the company, valued at approximately $995,661.68. This trade represents a 67.56% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 99,379 shares of company stock worth $2,238,298 in the last ninety days. Insiders own 1.60% of the company’s stock.

Institutional Trading of Olin

A number of large investors have recently made changes to their positions in OLN. Strategic Advocates LLC acquired a new position in Olin in the 3rd quarter valued at about $25,000. Evelyn Partners Investment Management LLP grew its holdings in shares of Olin by 6,360.0% during the second quarter. Evelyn Partners Investment Management LLP now owns 1,615 shares of the specialty chemicals company’s stock worth $32,000 after buying an additional 1,590 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. purchased a new stake in shares of Olin during the first quarter worth about $32,000. Bessemer Group Inc. raised its position in shares of Olin by 712.7% in the third quarter. Bessemer Group Inc. now owns 1,341 shares of the specialty chemicals company’s stock valued at $34,000 after buying an additional 1,176 shares during the last quarter. Finally, Allworth Financial LP raised its position in shares of Olin by 114.0% in the third quarter. Allworth Financial LP now owns 1,740 shares of the specialty chemicals company’s stock valued at $43,000 after buying an additional 927 shares during the last quarter. Institutional investors and hedge funds own 88.67% of the company’s stock.

Olin Company Profile

Olin Corporation is a diversified manufacturer specializing in chemical products and ammunition. The company’s core business activities encompass the production and distribution of chlor-alkali products, epoxy resins and derivatives, and small-caliber ammunition under the Winchester brand. Olin’s chemical operations supply chlorine, caustic soda and related co-products to a wide range of end markets, including water treatment, pulp and paper, pharmaceuticals and general industrial applications.

In its Chlor Alkali Products & Vinyls segment, Olin operates multiple manufacturing facilities that produce chlorine and sodium hydroxide, along with vinyl chloride monomer and polyvinyl chloride (PVC) compounds.