Olin Co. (NYSE:OLN) Director Randall W. Larrimore acquired 800 shares of the business’s stock in a transaction on Monday, February 12th. The shares were purchased at an average cost of $31.28 per share, for a total transaction of $25,024.00. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink.
Olin Co. (NYSE OLN) traded up $0.31 during mid-day trading on Tuesday, hitting $31.63. 656,093 shares of the stock traded hands, compared to its average volume of 2,397,523. Olin Co. has a 1 year low of $27.79 and a 1 year high of $38.84. The stock has a market capitalization of $5,104.90, a price-to-earnings ratio of 9.77, a price-to-earnings-growth ratio of 0.95 and a beta of 1.36. The company has a quick ratio of 1.07, a current ratio of 1.78 and a debt-to-equity ratio of 1.31.
Olin (NYSE:OLN) last released its earnings results on Tuesday, February 6th. The specialty chemicals company reported $2.89 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.44 by $2.45. Olin had a net margin of 8.77% and a return on equity of 6.02%. The firm had revenue of $1.62 billion during the quarter, compared to analyst estimates of $1.53 billion. During the same period last year, the business earned $0.11 earnings per share. The business’s revenue was up 16.9% on a year-over-year basis. analysts forecast that Olin Co. will post 2.34 earnings per share for the current year.
Several hedge funds have recently added to or reduced their stakes in the company. BlackRock Inc. lifted its holdings in shares of Olin by 5.3% during the fourth quarter. BlackRock Inc. now owns 16,689,125 shares of the specialty chemicals company’s stock valued at $593,800,000 after purchasing an additional 842,715 shares during the last quarter. Kensico Capital Management Corp lifted its holdings in shares of Olin by 43.3% during the third quarter. Kensico Capital Management Corp now owns 7,800,000 shares of the specialty chemicals company’s stock valued at $267,150,000 after purchasing an additional 2,355,000 shares during the last quarter. Iridian Asset Management LLC CT lifted its holdings in shares of Olin by 5.3% during the fourth quarter. Iridian Asset Management LLC CT now owns 7,760,477 shares of the specialty chemicals company’s stock valued at $276,118,000 after purchasing an additional 390,184 shares during the last quarter. Macquarie Group Ltd. lifted its holdings in shares of Olin by 6.6% during the third quarter. Macquarie Group Ltd. now owns 3,281,883 shares of the specialty chemicals company’s stock valued at $112,404,000 after purchasing an additional 201,896 shares during the last quarter. Finally, Jennison Associates LLC lifted its holdings in shares of Olin by 8.7% during the fourth quarter. Jennison Associates LLC now owns 2,165,117 shares of the specialty chemicals company’s stock valued at $77,035,000 after purchasing an additional 172,700 shares during the last quarter. Hedge funds and other institutional investors own 90.08% of the company’s stock.
Several analysts have weighed in on the company. Morgan Stanley assumed coverage on Olin in a research report on Tuesday, January 9th. They set an “overweight” rating and a $45.00 price objective on the stock. Zacks Investment Research raised Olin from a “hold” rating to a “buy” rating and set a $42.00 price objective on the stock in a research report on Friday, January 12th. Vertical Research raised Olin from a “hold” rating to a “buy” rating in a research report on Wednesday, January 3rd. TheStreet raised Olin from a “c+” rating to a “b” rating in a research report on Tuesday, October 31st. Finally, SunTrust Banks reaffirmed a “buy” rating and set a $46.00 price objective on shares of Olin in a research report on Monday, November 6th. Three equities research analysts have rated the stock with a hold rating and nine have given a buy rating to the company’s stock. The stock presently has an average rating of “Buy” and a consensus price target of $39.80.
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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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