Olin (NYSE:OLN) Upgraded by Wall Street Zen to Hold Rating

Olin (NYSE:OLN) was upgraded by equities researchers at Wall Street Zen from a “sell” rating to a “hold” rating in a report released on Saturday.

OLN has been the topic of several other reports. UBS Group lifted their target price on Olin from $21.00 to $29.00 and gave the stock a “neutral” rating in a report on Thursday. Royal Bank Of Canada set a $30.00 target price on Olin and gave the stock a “sector perform” rating in a report on Friday. Citigroup lifted their target price on Olin from $21.00 to $26.00 and gave the stock a “neutral” rating in a report on Thursday, March 12th. Weiss Ratings reiterated a “sell (d+)” rating on shares of Olin in a report on Thursday, January 22nd. Finally, Morgan Stanley cut their price target on Olin from $20.00 to $18.00 and set an “underweight” rating on the stock in a report on Monday, February 2nd. 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 three have assigned a Sell rating to the company. According to MarketBeat.com, Olin currently has a consensus rating of “Hold” and a consensus target price of $25.64.

Olin Stock Performance

OLN stock opened at $28.96 on Friday. The business’s 50-day moving average price is $25.81 and its two-hundred day moving average price is $23.32. The company has a current ratio of 1.21, a quick ratio of 0.73 and a debt-to-equity ratio of 1.45. The firm has a market cap of $3.30 billion, a PE ratio of -76.21 and a beta of 1.37. Olin has a 1-year low of $18.08 and a 1-year high of $30.46.

Olin (NYSE:OLN) last posted its earnings results on Thursday, January 29th. The specialty chemicals company reported ($0.58) earnings per share for the quarter, hitting the consensus estimate 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 return on equity of 0.48% and a negative net margin of 0.63%.The company’s revenue for the quarter was down .4% on a year-over-year basis. During the same period in the previous year, the company posted $0.09 earnings per share. As a group, research analysts forecast that Olin will post 1.38 earnings per share for the current year.

Insider Activity

In other news, VP R Nichole Sumner sold 4,750 shares of the business’s 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 sale, 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 ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, 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 completion of the sale, the vice president 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. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 99,379 shares of company stock worth $2,238,298 over the last three months. Corporate insiders own 1.60% of the company’s stock.

Institutional Trading of Olin

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. Covestor Ltd increased its position in shares of Olin by 10.6% in the fourth quarter. Covestor Ltd now owns 5,189 shares of the specialty chemicals company’s stock valued at $108,000 after acquiring an additional 497 shares during the last quarter. ARGA Investment Management LP increased its position in shares of Olin by 0.9% in the third 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 last quarter. Madison Asset Management LLC increased its position in shares of Olin by 0.6% in the fourth quarter. Madison Asset Management LLC now owns 97,616 shares of the specialty chemicals company’s stock valued at $2,033,000 after acquiring an additional 555 shares during the last quarter. Wilmington Savings Fund Society FSB increased its position 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 valued at $160,000 after acquiring an additional 579 shares during the last quarter. Finally, FORA Capital LLC increased its position 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 valued at $491,000 after acquiring an additional 625 shares during the last quarter. Institutional investors and hedge funds own 88.67% of the company’s stock.

About Olin

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.