Olin Corporation (OLN) Upgraded to “Hold” at BidaskClub
Olin Corporation (NYSE:OLN) was upgraded by equities researchers at BidaskClub from a “sell” rating to a “hold” rating in a research note issued on Wednesday.
Several other research analysts have also recently weighed in on the company. UBS AG reiterated a “neutral” rating and set a $30.00 price objective (down previously from $33.00) on shares of Olin Corporation in a research report on Sunday, June 25th. Royal Bank Of Canada reiterated a “buy” rating and set a $35.00 price objective on shares of Olin Corporation in a research report on Tuesday, June 20th. Tudor Pickering initiated coverage on Olin Corporation in a research report on Friday, May 12th. They set a “buy” rating and a $37.00 price objective on the stock. Cowen and Company set a $39.00 price objective on Olin Corporation and gave the stock a “buy” rating in a research report on Friday, July 28th. Finally, Bank of America Corporation initiated coverage on Olin Corporation in a research report on Monday, May 8th. They set a “buy” rating and a $40.00 price objective on the stock. Five analysts have rated the stock with a hold rating and four have issued a buy rating to the company. The company presently has an average rating of “Hold” and a consensus target price of $32.75.
Shares of Olin Corporation (NYSE:OLN) traded up 0.23% during trading on Wednesday, reaching $30.57. 1,182,766 shares of the company traded hands. The stock has a market cap of $5.08 billion, a P/E ratio of 118.95 and a beta of 1.43. Olin Corporation has a 12 month low of $18.24 and a 12 month high of $33.88. The stock’s 50 day moving average price is $30.44 and its 200-day moving average price is $30.80.
Olin Corporation (NYSE:OLN) last released its quarterly earnings data on Monday, July 31st. The specialty chemicals company reported $0.01 EPS for the quarter, missing the consensus estimate of $0.16 by $0.15. The company had revenue of $1.53 billion during the quarter, compared to analyst estimates of $1.51 billion. Olin Corporation had a net margin of 0.72% and a return on equity of 5.80%. The company’s quarterly revenue was up 11.9% compared to the same quarter last year. During the same period in the previous year, the company posted $0.24 EPS. On average, equities research analysts expect that Olin Corporation will post $1.14 EPS for the current fiscal year.
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In other news, EVP John L. Mcintosh sold 16,070 shares of the stock in a transaction on Wednesday, August 2nd. The stock was sold at an average price of $31.02, for a total transaction of $498,491.40. Following the sale, the executive vice president now directly owns 60,391 shares of the company’s stock, valued at approximately $1,873,328.82. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, EVP John L. Mcintosh sold 24,000 shares of the stock in a transaction on Thursday, August 3rd. The stock was sold at an average price of $31.54, for a total value of $756,960.00. Following the sale, the executive vice president now directly owns 84,391 shares in the company, valued at $2,661,692.14. The disclosure for this sale can be found here. Corporate insiders own 2.90% of the company’s stock.
Hedge funds have recently added to or reduced their stakes in the company. Oregon Public Employees Retirement Fund raised its stake in Olin Corporation by 1.4% in the first quarter. Oregon Public Employees Retirement Fund now owns 57,885 shares of the specialty chemicals company’s stock valued at $1,903,000 after buying an additional 800 shares during the period. Old Mutual Global Investors UK Ltd. bought a new stake in Olin Corporation during the first quarter valued at about $305,000. Russell Investments Group Ltd. bought a new stake in Olin Corporation during the first quarter valued at about $1,398,000. ARP Americas LLC bought a new stake in Olin Corporation during the first quarter valued at about $335,000. Finally, Strs Ohio raised its stake in Olin Corporation by 14.6% in the first quarter. Strs Ohio now owns 32,100 shares of the specialty chemicals company’s stock valued at $1,055,000 after buying an additional 4,100 shares during the period. 93.02% of the stock is currently owned by institutional investors.
Olin Corporation Company Profile
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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