Olin Co. (OLN) Given Consensus Rating of “Buy” by Analysts
Shares of Olin Co. (NYSE:OLN) have earned an average rating of “Buy” from the eight research firms that are currently covering the firm. Three analysts have rated the stock with a hold rating and five have given a buy rating to the company. The average 12 month price target among brokers that have issued ratings on the stock in the last year is $35.40.
A number of equities analysts have recently commented on OLN shares. Zacks Investment Research upgraded Olin from a “hold” rating to a “buy” rating and set a $36.00 price objective on the stock in a research note on Thursday, March 9th. Tudor Pickering started coverage on Olin in a research note on Friday, May 12th. They issued a “buy” rating and a $37.00 price objective on the stock. Monness Crespi & Hardt lowered Olin from a “buy” rating to a “neutral” rating and set a $28.00 price objective on the stock. in a research note on Thursday, February 2nd. They noted that the move was a valuation call. Royal Bank of Canada reiterated a “buy” rating and issued a $35.00 price objective on shares of Olin in a research note on Tuesday, May 16th. Finally, Longbow Research upgraded Olin from an “underperform” rating to a “neutral” rating in a research note on Thursday, February 2nd.
Shares of Olin (NYSE:OLN) traded down 1.48% during midday trading on Tuesday, reaching $30.63. The company’s stock had a trading volume of 599,865 shares. Olin has a 12 month low of $18.24 and a 12 month high of $33.88. The stock’s 50-day moving average is $31.37 and its 200 day moving average is $29.00. The stock has a market capitalization of $5.08 billion, a P/E ratio of 106.72 and a beta of 1.32.
Olin (NYSE:OLN) last posted its quarterly earnings data on Tuesday, May 2nd. The specialty chemicals company reported $0.14 EPS for the quarter, missing analysts’ consensus estimates of $0.24 by $0.10. The business had revenue of $1.57 billion during the quarter, compared to the consensus estimate of $1.44 billion. Olin had a positive return on equity of 7.56% and a negative net margin of 0.07%. On average, analysts expect that Olin will post $1.31 earnings per share for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which will be paid on Friday, June 9th. Stockholders of record on Wednesday, May 10th will be paid a $0.20 dividend. The ex-dividend date is Monday, May 8th. This represents a $0.80 dividend on an annualized basis and a dividend yield of 2.57%. Olin’s payout ratio is presently -2,665.78%.
In related news, VP Stephen C. Curley sold 5,500 shares of the business’s stock in a transaction dated Wednesday, March 1st. The stock was sold at an average price of $32.06, for a total transaction of $176,330.00. Following the transaction, the vice president now directly owns 24,337 shares in the company, valued at $780,244.22. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, SVP Thomas J. Okeefe sold 10,000 shares of the business’s stock in a transaction dated Wednesday, March 1st. The shares were sold at an average price of $32.26, for a total value of $322,600.00. Following the transaction, the senior vice president now owns 59,706 shares in the company, valued at $1,926,115.56. The disclosure for this sale can be found here. Insiders sold 17,500 shares of company stock worth $560,830 over the last quarter. 2.80% of the stock is currently owned by corporate insiders.
Institutional investors have recently modified their holdings of the stock. Bollard Group LLC raised its position in shares of Olin by 0.6% in the first quarter. Bollard Group LLC now owns 3,180 shares of the specialty chemicals company’s stock valued at $105,000 after buying an additional 19 shares in the last quarter. OLD Mutual Customised Solutions Proprietary Ltd. purchased a new position in shares of Olin during the first quarter valued at about $118,000. Meadow Creek Investment Management LLC raised its position in shares of Olin by 6.9% in the first quarter. Meadow Creek Investment Management LLC now owns 4,464 shares of the specialty chemicals company’s stock valued at $147,000 after buying an additional 288 shares in the last quarter. First Interstate Bank raised its position in shares of Olin by 1.6% in the fourth quarter. First Interstate Bank now owns 6,300 shares of the specialty chemicals company’s stock valued at $161,000 after buying an additional 100 shares in the last quarter. Finally, Tyers Asset Management LLC purchased a new position in shares of Olin during the fourth quarter valued at about $187,000.
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Olin Corporation is a manufacturer and distributor of chemical products, and ammunition. The Company operates through three segments: Chlor Alkali Products and Vinyls, Epoxy and Winchester. The Chlor Alkali Products and Vinyls segment manufactures and sells chlorine and caustic soda, ethylene dichloride and vinyl chloride monomer, methyl chloride, methylene chloride, chloroform, carbon tetrachloride, perchloroethylene, trichloroethylene and vinylidene chloride, hydrochloric acid, hydrogen, bleach products and potassium hydroxide.
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