Olin (NYSE:OLN) Upgraded by Wells Fargo & Company to Overweight Rating

Wells Fargo & Company upgraded shares of Olin (NYSE:OLN) from an equal weight rating to an overweight rating in a report published on Monday, MarketBeat Ratings reports. They currently have $35.00 target price on the specialty chemicals company’s stock, up from their prior target price of $25.00.

A number of other equities analysts have also weighed in on OLN. KeyCorp lowered their price target on shares of Olin from $29.00 to $26.00 and set an “overweight” rating on the stock in a research report on Monday, February 2nd. Morgan Stanley lowered their price target on shares of Olin from $20.00 to $18.00 and set an “underweight” rating on the stock in a research report on Monday, February 2nd. Wall Street Zen lowered shares of Olin from a “hold” rating to a “sell” rating in a research report on Saturday, January 10th. UBS Group set a $21.00 price target on shares of Olin in a research report on Monday, February 2nd. Finally, BMO Capital Markets lowered their price target on shares of Olin from $25.00 to $24.00 and set a “market perform” rating on the stock in a research report on Tuesday, February 3rd. One analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating, ten have issued a Hold rating and three have assigned a Sell rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and an average price target of $24.43.

Olin Stock Performance

OLN opened at $29.26 on Monday. The firm has a market capitalization of $3.33 billion, a PE ratio of -76.99 and a beta of 1.37. Olin has a twelve month low of $17.66 and a twelve month high of $30.46. The firm’s 50-day moving average price is $25.26 and its 200 day moving average price is $23.16. The company has a current ratio of 1.21, a quick ratio of 0.73 and a debt-to-equity ratio of 1.45.

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

Olin Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, March 13th. Shareholders of record on Tuesday, March 3rd were issued a $0.20 dividend. This represents a $0.80 annualized dividend and a yield of 2.7%. The ex-dividend date was Tuesday, March 3rd. Olin’s payout ratio is presently -210.53%.

Insider Buying and Selling at Olin

In other Olin news, VP Angela M. Castle sold 2,379 shares of the business’s stock in a transaction dated Tuesday, February 24th. The shares were sold at an average price of $24.25, for a total value of $57,690.75. Following the transaction, the vice president directly owned 1,528 shares in the company, valued at $37,054. The trade was a 60.89% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, VP R Nichole Sumner sold 4,750 shares of the business’s stock in a transaction dated Tuesday, February 3rd. The shares were 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 owned 24,771 shares in the company, valued at $557,099.79. The trade was a 16.09% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 99,379 shares of company stock worth $2,238,298 in the last ninety days. 1.60% of the stock is owned by insiders.

Hedge Funds Weigh In On Olin

Several large investors have recently made changes to their positions in OLN. Strategic Advocates LLC acquired a new position in shares of Olin in the 3rd quarter worth approximately $25,000. Rockefeller Capital Management L.P. lifted its holdings in shares of Olin by 115.2% in the 4th quarter. Rockefeller Capital Management L.P. now owns 1,231 shares of the specialty chemicals company’s stock worth $26,000 after acquiring an additional 659 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. acquired a new position in shares of Olin in the 1st quarter worth approximately $32,000. Bessemer Group Inc. lifted its holdings in shares of Olin by 712.7% in the 3rd quarter. Bessemer Group Inc. now owns 1,341 shares of the specialty chemicals company’s stock worth $34,000 after acquiring an additional 1,176 shares during the last quarter. Finally, Allworth Financial LP lifted its holdings in shares of Olin by 114.0% in the 3rd quarter. Allworth Financial LP now owns 1,740 shares of the specialty chemicals company’s stock worth $43,000 after acquiring an additional 927 shares during the last quarter. 88.67% of the stock is currently owned by institutional investors and hedge funds.

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.