Olin (NYSE:OLN) Upgraded at Wall Street Zen

Wall Street Zen upgraded shares of Olin (NYSE:OLN) from a strong sell rating to a sell rating in a research report sent to investors on Saturday morning,Wall Street Zen reports.

A number of other brokerages have also recently commented on OLN. Citigroup lowered their target price on Olin from $19.00 to $17.00 and set a “neutral” rating on the stock in a report on Wednesday, September 30th. BMO Capital Markets lowered their price target on Olin from $30.00 to $25.00 and set a “market perform” rating for the company in a report on Monday, July 6th. Truist Financial lowered their price objective on shares of Olin from $20.00 to $15.00 and set a “hold” rating for the company in a research note on Tuesday, October 20th. Barclays began coverage on Olin in a report on Monday, October 12th. They set an “equal weight” rating and a $18.00 target price for the company. Finally, Wells Fargo & Company decreased their price target on shares of Olin from $20.00 to $16.00 and set an “equal weight” rating for the company in a research report on Thursday, October 1st. One investment analyst has rated the stock with a Buy rating, twelve have issued a Hold rating and three have given a Sell rating to the company’s stock. According to data from MarketBeat.com, Olin presently has a consensus rating of “Reduce” and a consensus price target of $20.57.

Olin Stock Up 3.0%

Shares of Olin stock opened at $18.12 on Friday. Olin has a 52-week low of $14.64 and a 52-week high of $30.46. The company has a 50 day moving average of $16.44 and a 200 day moving average of $22.25. The company has a quick ratio of 0.87, a current ratio of 1.42 and a debt-to-equity ratio of 1.77. The company has a market capitalization of $2.07 billion, a P/E ratio of -12.33 and a beta of 1.23.

Olin (NYSE:OLN) last issued its earnings results on Thursday, October 29th. The specialty chemicals company reported $0.13 EPS for the quarter, missing analysts’ consensus estimates of $0.15 by ($0.02). Olin had a negative return on equity of 4.76% and a negative net margin of 2.08%. The firm had revenue of $1.75 billion for the quarter, compared to analyst estimates of $1.83 billion. During the same quarter in the previous year, the firm posted $0.37 EPS. The business’s revenue for the quarter was up 2.0% on a year-over-year basis. As a group, research analysts forecast that Olin will post -0.80 EPS for the current fiscal year.

Olin Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, September 11th. Stockholders of record on Thursday, August 27th were paid a $0.20 dividend. This represents a $0.80 dividend on an annualized basis and a dividend yield of 4.4%. The ex-dividend date of this dividend was Thursday, August 27th. Olin’s dividend payout ratio is currently -54.42%.

Institutional Investors Weigh In On Olin

A number of institutional investors and hedge funds have recently modified their holdings of the stock. VIRGINIA RETIREMENT SYSTEMS ET Al acquired a new position in Olin in the 2nd quarter valued at approximately $1,267,000. Amundi raised its stake in shares of Olin by 337.2% in the first quarter. Amundi now owns 684,036 shares of the specialty chemicals company’s stock valued at $20,336,000 after purchasing an additional 527,586 shares in the last quarter. Engineers Gate Manager LP lifted its holdings in shares of Olin by 1,601.5% during the second quarter. Engineers Gate Manager LP now owns 210,478 shares of the specialty chemicals company’s stock valued at $4,172,000 after acquiring an additional 198,108 shares during the period. WINTON GROUP Ltd bought a new stake in Olin during the 2nd quarter worth approximately $1,747,000. Finally, Empowered Funds LLC raised its position in Olin by 1,946.0% in the 1st quarter. Empowered Funds LLC now owns 435,599 shares of the specialty chemicals company’s stock worth $12,950,000 after purchasing an additional 414,309 shares during the last quarter. Institutional investors and hedge funds own 88.67% of the company’s stock.

Olin Company Profile

Olin Corporation (NYSE: OLN) is a global manufacturer of chemicals and ammunition. The company operates through three primary businesses: Chlor Alkali Products and Vinyls, Epoxy, and Winchester.

Its Chlor Alkali Products and Vinyls business produces chlorine, caustic soda, hydrochloric acid, bleach products, hydrogen, chlorinated organic chemicals and other related materials used in industrial, water-treatment, construction and consumer applications. Olin’s Epoxy business manufactures epoxy resins, intermediates and other specialty materials used in coatings, adhesives, composites, electronics and infrastructure-related applications.

Through its Winchester business, Olin produces and distributes sporting ammunition, reloading components, and small-caliber ammunition for law enforcement and military customers.