Olin Corporation (NYSE:OLN) Given Average Recommendation of “Hold” by Analysts

Olin Corporation (NYSE:OLN) has been assigned an average recommendation of “Hold” from the eighteen analysts that are covering the firm, Marketbeat.com reports. Three investment analysts have rated the stock with a sell recommendation, twelve have assigned a hold recommendation, two have issued a buy recommendation and one has issued a strong buy recommendation on the company. The average twelve-month target price among brokerages that have updated their coverage on the stock in the last year is $23.7333.

Several brokerages have commented on OLN. Wall Street Zen lowered shares of Olin from a “hold” rating to a “sell” rating in a research report on Saturday, January 10th. Morgan Stanley decreased their price target on shares of Olin from $20.00 to $18.00 and set an “underweight” rating for the company in a research note on Monday, February 2nd. Mizuho lifted their price target on shares of Olin from $22.00 to $24.00 and gave the stock a “neutral” rating in a report on Tuesday, February 17th. Wells Fargo & Company upped their price objective on Olin from $21.00 to $25.00 and gave the company an “equal weight” rating in a research note on Friday, March 13th. Finally, UBS Group set a $21.00 price objective on Olin in a report on Monday, February 2nd.

Insider Buying and Selling

In related news, VP R Nichole Sumner sold 4,750 shares of Olin stock in a transaction dated Tuesday, February 3rd. The stock was sold at an average price of $22.49, for a total value of $106,827.50. Following the completion of the sale, the vice president owned 24,771 shares of the company’s stock, valued at approximately $557,099.79. This trade represents a 16.09% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, VP Angela M. Castle sold 2,379 shares of the company’s stock in a transaction dated Tuesday, February 24th. The shares were sold at an average price of $24.25, for a total transaction of $57,690.75. Following the sale, the vice president directly owned 1,528 shares in the company, valued at approximately $37,054. This trade represents a 60.89% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last 90 days, insiders sold 99,379 shares of company stock valued at $2,238,298. 1.70% of the stock is owned by insiders.

Institutional Trading of Olin

A number of institutional investors have recently modified their holdings of OLN. Covestor Ltd grew its stake in Olin by 10.6% in the 4th quarter. Covestor Ltd now owns 5,189 shares of the specialty chemicals company’s stock valued at $108,000 after buying an additional 497 shares in the last quarter. ARGA Investment Management LP raised its holdings in Olin by 0.9% during the 3rd quarter. ARGA Investment Management LP now owns 60,359 shares of the specialty chemicals company’s stock valued at $1,508,000 after acquiring an additional 546 shares during the period. Madison Asset Management LLC lifted its position in shares of Olin by 0.6% during the fourth quarter. Madison Asset Management LLC now owns 97,616 shares of the specialty chemicals company’s stock worth $2,033,000 after acquiring an additional 555 shares in the last quarter. Wilmington Savings Fund Society FSB boosted its holdings in shares of Olin by 9.9% in the third quarter. Wilmington Savings Fund Society FSB now owns 6,412 shares of the specialty chemicals company’s stock worth $160,000 after acquiring an additional 579 shares during the period. Finally, FORA Capital LLC boosted its holdings in shares of Olin by 2.6% in the second quarter. FORA Capital LLC now owns 24,453 shares of the specialty chemicals company’s stock worth $491,000 after acquiring an additional 625 shares during the period. 88.67% of the stock is currently owned by hedge funds and other institutional investors.

Olin Stock Up 6.3%

Shares of NYSE:OLN opened at $25.26 on Tuesday. Olin has a 1 year low of $17.66 and a 1 year high of $27.35. The company has a market capitalization of $2.87 billion, a PE ratio of -66.47 and a beta of 1.56. The business has a fifty day moving average price of $24.23 and a two-hundred day moving average price of $22.93. The company has a debt-to-equity ratio of 1.45, a current ratio of 1.21 and a quick ratio of 0.73.

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

Olin Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, March 13th. Stockholders of record on Tuesday, March 3rd were paid a dividend of $0.20 per share. The ex-dividend date was Tuesday, March 3rd. This represents a $0.80 annualized dividend and a dividend yield of 3.2%. Olin’s dividend payout ratio is presently -210.53%.

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.