Olin Co. (NYSE:OLN) – Investment analysts at SunTrust Banks issued their Q1 2019 earnings per share estimates for Olin in a report released on Monday. SunTrust Banks analyst J. Freuchtel expects that the specialty chemicals company will post earnings of $0.67 per share for the quarter. SunTrust Banks has a “Buy” rating on the stock. SunTrust Banks also issued estimates for Olin’s Q2 2019 earnings at $0.74 EPS, Q3 2019 earnings at $0.98 EPS and Q4 2019 earnings at $1.00 EPS.
A number of other equities analysts also recently issued reports on OLN. Zacks Investment Research raised Olin from a “sell” rating to a “hold” rating in a research note on Tuesday, October 17th. TheStreet raised Olin from a “c+” rating to a “b” rating in a research note on Tuesday, October 31st. Royal Bank of Canada reaffirmed a “buy” rating and issued a $42.00 price objective on shares of Olin in a research note on Thursday, December 14th. Vertical Research raised Olin from a “hold” rating to a “buy” rating in a research note on Wednesday, January 3rd. Finally, Morgan Stanley initiated coverage on Olin in a research note on Tuesday, January 9th. They issued an “overweight” rating and a $45.00 price objective for the company. Three research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company. The stock has an average rating of “Buy” and a consensus target price of $39.80.
Olin (NYSE:OLN) last issued its earnings results on Tuesday, February 6th. The specialty chemicals company reported $2.89 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.44 by $2.45. The business had revenue of $1.62 billion during the quarter, compared to the consensus estimate of $1.53 billion. Olin had a return on equity of 6.02% and a net margin of 8.77%. The company’s revenue for the quarter was up 16.9% on a year-over-year basis. During the same period in the prior year, the business posted $0.11 EPS.
The company also recently disclosed a quarterly dividend, which will be paid on Friday, March 9th. Investors of record on Friday, February 9th will be paid a $0.20 dividend. This represents a $0.80 annualized dividend and a yield of 2.48%. The ex-dividend date is Thursday, February 8th. Olin’s payout ratio is currently 24.69%.
In related news, Director Randall W. Larrimore purchased 800 shares of the company’s stock in a transaction on Monday, February 12th. The stock was bought at an average price of $31.28 per share, with a total value of $25,024.00. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, EVP John L. Mcintosh sold 9,500 shares of the firm’s stock in a transaction on Wednesday, November 15th. The stock was sold at an average price of $35.42, for a total value of $336,490.00. The disclosure for this sale can be found here. Company insiders own 2.90% of the company’s stock.
A number of institutional investors have recently added to or reduced their stakes in OLN. Kensico Capital Management Corp increased its position in 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 worth $267,150,000 after buying an additional 2,355,000 shares in the last quarter. Jennison Associates LLC boosted its holdings in shares of Olin by 7,869.7% during the third quarter. Jennison Associates LLC now owns 1,992,417 shares of the specialty chemicals company’s stock worth $68,240,000 after purchasing an additional 1,967,417 shares during the last quarter. BlackRock Inc. boosted 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 worth $593,800,000 after purchasing an additional 842,715 shares during the last quarter. Iridian Asset Management LLC CT boosted 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 worth $276,118,000 after purchasing an additional 390,184 shares during the last quarter. Finally, Teachers Retirement System of The State of Kentucky boosted its holdings in shares of Olin by 1,116.5% during the third quarter. Teachers Retirement System of The State of Kentucky now owns 381,729 shares of the specialty chemicals company’s stock worth $13,074,000 after purchasing an additional 350,349 shares during the last quarter. 90.08% of the stock is owned by institutional investors.
COPYRIGHT VIOLATION WARNING: “Q1 2019 Earnings Forecast for Olin Co. (OLN) Issued By SunTrust Banks” was originally reported by American Banking News and is owned by of American Banking News. If you are accessing this story on another domain, it was copied illegally and republished in violation of international trademark and copyright legislation. The legal version of this story can be viewed at https://www.americanbankingnews.com/2018/02/13/q1-2019-earnings-forecast-for-olin-co-oln-issued-by-suntrust-banks.html.
Olin 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.
Receive News & Ratings for Olin Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Olin and related companies with MarketBeat.com's FREE daily email newsletter.