Olin Corporation (OLN) Given New $37.00 Price Target at Cowen and Company
OLN has been the topic of several other reports. Zacks Investment Research raised shares of Olin Corporation from a strong sell rating to a hold rating in a report on Wednesday, January 4th. Longbow Research raised shares of Olin Corporation from an underperform rating to a neutral rating in a report on Thursday, February 2nd. Finally, Monness Crespi & Hardt downgraded shares of Olin Corporation from a buy rating to a neutral rating and set a $28.00 price objective on the stock. in a report on Thursday, February 2nd. They noted that the move was a valuation call. Three research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. The stock has a consensus rating of Buy and a consensus target price of $26.86.
Olin Corporation (NYSE:OLN) traded down 0.94% during midday trading on Friday, hitting $30.58. 1,755,633 shares of the stock were exchanged. The company’s market capitalization is $5.06 billion. Olin Corporation has a 1-year low of $14.02 and a 1-year high of $31.43. The company’s 50 day moving average is $27.80 and its 200 day moving average is $23.63.
Olin Corporation (NYSE:OLN) last released its quarterly earnings data on Tuesday, January 31st. The company reported $0.31 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.09 by $0.22. The business had revenue of $1.39 billion for the quarter, compared to the consensus estimate of $1.36 billion. Olin Corporation had a negative net margin of 0.07% and a positive return on equity of 7.56%. The company’s revenue was down 4.6% compared to the same quarter last year. During the same period in the prior year, the firm earned ($0.37) earnings per share. Analysts predict that Olin Corporation will post $1.38 earnings per share for the current fiscal year.
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The business also recently declared a quarterly dividend, which will be paid on Friday, March 10th. Stockholders of record on Friday, February 10th will be given a dividend of $0.20 per share. This represents a $0.80 annualized dividend and a dividend yield of 2.62%. The ex-dividend date is Wednesday, February 8th. Olin Corporation’s dividend payout ratio is presently -2,665.78%.
In other news, Director C Robert Bunch sold 10,000 shares of the company’s stock in a transaction dated Friday, February 10th. The stock was sold at an average price of $29.65, for a total transaction of $296,500.00. Following the sale, the director now directly owns 12,610 shares in the company, valued at $373,886.50. The sale was disclosed in a document filed with the SEC, which is available at this link. Corporate insiders own 2.80% of the company’s stock.
Several hedge funds and other institutional investors have recently bought and sold shares of the company. Creative Planning boosted its position in Olin Corporation by 22.1% in the third quarter. Creative Planning now owns 6,084 shares of the company’s stock valued at $125,000 after buying an additional 1,103 shares during the period. First Interstate Bank boosted its position in Olin Corporation by 1.6% in the fourth quarter. First Interstate Bank now owns 6,300 shares of the company’s stock valued at $161,000 after buying an additional 100 shares during the period. Tyers Asset Management LLC bought a new position in Olin Corporation during the fourth quarter valued at $187,000. World Asset Management Inc bought a new position in Olin Corporation during the third quarter valued at $217,000. Finally, LS Investment Advisors LLC boosted its position in Olin Corporation by 7.0% in the third quarter. LS Investment Advisors LLC now owns 10,610 shares of the company’s stock valued at $218,000 after buying an additional 695 shares during the period.
About Olin Corporation
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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