Olin Corp. (NYSE:OLN) Receives Average Rating of “Hold” from Brokerages
Olin Corp. (NYSE:OLN) has received an average recommendation of “Hold” from the ten research firms that are presently covering the company. Two research analysts have rated the stock with a sell recommendation, one has given a hold recommendation and six have assigned a buy recommendation to the company. The average twelve-month target price among analysts that have issued a report on the stock in the last year is $22.00.
OLN has been the subject of a number of recent research reports. Royal Bank Of Canada reiterated an “outperform” rating and issued a $28.00 target price (up previously from $25.00) on shares of Olin Corp. in a report on Monday, June 13th. Cowen and Company upgraded Olin Corp. from a “market perform” rating to an “outperform” rating and lifted their target price for the stock from $18.00 to $31.00 in a report on Tuesday, June 28th. Zacks Investment Research upgraded Olin Corp. from a “hold” rating to a “buy” rating and set a $27.00 price objective for the company in a report on Wednesday, July 6th. Nomura restated a “buy” rating on shares of Olin Corp. in a report on Tuesday, July 12th. Finally, RBC Capital Markets restated a “buy” rating and set a $24.00 price objective (down previously from $28.00) on shares of Olin Corp. in a report on Friday, July 22nd.
In other Olin Corp. news, EVP John L. Mcintosh sold 10,000 shares of the company’s stock in a transaction on Tuesday, August 23rd. The stock was sold at an average price of $21.59, for a total value of $215,900.00. Following the completion of the sale, the executive vice president now directly owns 60,391 shares in the company, valued at approximately $1,303,841.69. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 2.80% of the stock is owned by company insiders.
Several large investors have recently modified their holdings of the company. BlackRock Fund Advisors boosted its stake in shares of Olin Corp. by 5.2% in the second quarter. BlackRock Fund Advisors now owns 12,738,356 shares of the company’s stock valued at $316,421,000 after buying an additional 624,722 shares in the last quarter. Vanguard Group Inc. boosted its stake in shares of Olin Corp. by 4.1% in the second quarter. Vanguard Group Inc. now owns 12,500,972 shares of the company’s stock valued at $310,524,000 after buying an additional 488,466 shares in the last quarter. Adage Capital Partners GP L.L.C. boosted its stake in shares of Olin Corp. by 4.8% in the second quarter. Adage Capital Partners GP L.L.C. now owns 8,654,256 shares of the company’s stock valued at $214,972,000 after buying an additional 400,000 shares in the last quarter. State Street Corp boosted its stake in shares of Olin Corp. by 9.9% in the first quarter. State Street Corp now owns 8,580,926 shares of the company’s stock valued at $149,048,000 after buying an additional 774,053 shares in the last quarter. Finally, Dimensional Fund Advisors LP boosted its stake in shares of Olin Corp. by 6.6% in the second quarter. Dimensional Fund Advisors LP now owns 7,016,100 shares of the company’s stock valued at $174,266,000 after buying an additional 435,201 shares in the last quarter. Institutional investors and hedge funds own 92.85% of the company’s stock.
Shares of Olin Corp. (NYSE:OLN) traded up 0.295% during trading on Monday, hitting $18.695. The company had a trading volume of 628,385 shares. Olin Corp. has a 52 week low of $12.29 and a 52 week high of $26.46. The stock’s 50-day moving average price is $20.93 and its 200 day moving average price is $20.89. The company’s market capitalization is $3.09 billion.
Olin Corp. (NYSE:OLN) last announced its earnings results on Tuesday, August 2nd. The company reported $0.24 EPS for the quarter, missing the Zacks’ consensus estimate of $0.31 by $0.07. The company earned $1.36 billion during the quarter, compared to analysts’ expectations of $1.47 billion. Olin Corp. had a positive return on equity of 4.25% and a negative net margin of 2.05%. Olin Corp.’s revenue for the quarter was up 154.8% compared to the same quarter last year. During the same quarter last year, the firm posted $0.32 EPS. On average, equities research analysts forecast that Olin Corp. will post $1.27 earnings per share for the current year.
The company also recently announced a quarterly dividend, which was paid on Friday, September 9th. Shareholders of record on Wednesday, August 10th were issued a $0.20 dividend. This represents a $0.80 annualized dividend and a dividend yield of 4.26%. The ex-dividend date was Monday, August 8th. Olin Corp.’s dividend payout ratio is -150.94%.
About Olin Corp.
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, hydrogen, bleach products and potassium hydroxide.
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