Olin Corporation (NYSE:OLN) Receives $23.20 Consensus PT from Analysts

Shares of Olin Corporation (NYSE:OLN) have earned an average recommendation of “Hold” from the eighteen analysts that are covering the firm, Marketbeat Ratings reports. Three analysts have rated the stock with a sell rating, twelve have given a hold rating, two have given a buy rating and one has given a strong buy rating to the company. The average 12 month price objective among brokerages that have updated their coverage on the stock in the last year is $23.20.

A number of research analysts have recently weighed in on the company. Zacks Research downgraded Olin from a “hold” rating to a “strong sell” rating in a research note on Thursday, January 29th. UBS Group set a $21.00 price objective on Olin in a report on Monday, February 2nd. Weiss Ratings restated a “sell (d+)” rating on shares of Olin in a research note on Thursday, January 22nd. Morgan Stanley reduced their price target on Olin from $20.00 to $18.00 and set an “underweight” rating for the company in a research report on Monday, February 2nd. Finally, BMO Capital Markets lowered their price objective on shares of Olin from $25.00 to $24.00 and set a “market perform” rating on the stock in a report on Tuesday, February 3rd.

Olin Stock Up 0.6%

Shares of NYSE:OLN opened at $24.62 on Friday. The company has a debt-to-equity ratio of 1.45, a current ratio of 1.21 and a quick ratio of 0.73. The stock has a market cap of $2.80 billion, a price-to-earnings ratio of -64.79 and a beta of 1.56. The company has a 50 day moving average of $23.52 and a 200-day moving average of $22.77. Olin has a one year low of $17.66 and a one year high of $27.35.

Olin (NYSE:OLN) last announced its quarterly earnings data on Thursday, January 29th. The specialty chemicals company reported ($0.58) earnings per share for the quarter, meeting the consensus estimate of ($0.58). Olin had a negative net margin of 0.63% and a negative return on equity of 0.48%. The business had revenue of $1.67 billion for the quarter, compared to analyst estimates of $1.61 billion. During the same period in the prior year, the business posted $0.09 earnings per share. Olin’s revenue was down .4% compared to the same quarter last year. On average, sell-side analysts forecast that Olin will post 1.38 earnings per share for the current year.

Olin Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, March 13th. Shareholders of record on Tuesday, March 3rd will be paid a $0.20 dividend. This represents a $0.80 annualized dividend and a yield of 3.2%. The ex-dividend date is Tuesday, March 3rd. Olin’s payout ratio is presently -210.53%.

Insider Transactions at Olin

In other news, VP Angela M. Castle sold 2,379 shares of the firm’s stock in a transaction dated Tuesday, February 24th. The stock was sold at an average price of $24.25, for a total value of $57,690.75. Following the completion of the transaction, the vice president owned 1,528 shares in the company, valued at $37,054. This trade represents a 60.89% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Todd A. Slater sold 92,250 shares of the company’s stock in a transaction dated Tuesday, February 3rd. The stock was sold at an average price of $22.48, for a total value of $2,073,780.00. Following the sale, the chief financial officer owned 44,291 shares in the company, valued at $995,661.68. The trade was a 67.56% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 99,379 shares of company stock worth $2,238,298 in the last three months. Insiders own 1.60% of the company’s stock.

Hedge Funds Weigh In On Olin

A number of institutional investors have recently added to or reduced their stakes in the company. Orbis Allan Gray Ltd raised its position in Olin by 448.9% during the fourth quarter. Orbis Allan Gray Ltd now owns 3,804,561 shares of the specialty chemicals company’s stock worth $79,249,000 after acquiring an additional 3,111,393 shares in the last quarter. Ilex Capital Partners UK LLP bought a new stake in shares of Olin in the 2nd quarter valued at about $50,476,000. Millennium Management LLC lifted its stake in Olin by 1,063.0% in the 3rd quarter. Millennium Management LLC now owns 2,486,702 shares of the specialty chemicals company’s stock valued at $62,143,000 after purchasing an additional 2,272,877 shares during the last quarter. Norges Bank bought a new position in Olin during the second quarter worth about $27,843,000. Finally, Semper Augustus Investments Group LLC increased its position in Olin by 141.3% during the third quarter. Semper Augustus Investments Group LLC now owns 1,924,245 shares of the specialty chemicals company’s stock worth $48,087,000 after buying an additional 1,126,809 shares during the last quarter. 88.67% of the stock is currently owned by institutional investors and hedge funds.

Olin Company Profile

Olin Corporation is a diversified manufacturer specializing in chemical products and ammunition. The company’s core business activities encompass the production and distribution of chlor-alkali products, epoxy resins and derivatives, and small-caliber ammunition under the Winchester brand. Olin’s chemical operations supply chlorine, caustic soda and related co-products to a wide range of end markets, including water treatment, pulp and paper, pharmaceuticals and general industrial applications.

In its Chlor Alkali Products & Vinyls segment, Olin operates multiple manufacturing facilities that produce chlorine and sodium hydroxide, along with vinyl chloride monomer and polyvinyl chloride (PVC) compounds.