BidaskClub downgraded shares of Olin Corporation (NYSE:OLN) from a buy rating to a hold rating in a research report sent to investors on Friday.

OLN has been the subject of several other research reports. Royal Bank Of Canada restated a buy rating and set a $35.00 price target on shares of Olin Corporation in a research report on Tuesday, May 16th. Zacks Investment Research upgraded shares of Olin Corporation from a sell rating to a hold rating in a research report on Thursday, April 20th. Cowen and Company restated an outperform rating and set a $39.00 price target (up previously from $37.00) on shares of Olin Corporation in a research report on Thursday, June 22nd. Bank of America Corp started coverage on shares of Olin Corporation in a research report on Monday, May 8th. They set a buy rating and a $40.00 price target for the company. Finally, Tudor Pickering started coverage on shares of Olin Corporation in a research report on Friday, May 12th. They set a buy rating and a $37.00 price target for the company. Five investment analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. The stock currently has a consensus rating of Hold and an average target price of $32.75.

Shares of Olin Corporation (NYSE OLN) traded up 0.41% during mid-day trading on Friday, hitting $29.60. 1,009,102 shares of the company traded hands. The stock has a market capitalization of $4.91 billion, a price-to-earnings ratio of 103.14 and a beta of 1.44. The firm has a 50-day moving average of $30.14 and a 200-day moving average of $30.55. Olin Corporation has a one year low of $18.24 and a one year high of $33.88.

Olin Corporation (NYSE:OLN) last posted its quarterly earnings results on Monday, July 31st. The specialty chemicals company reported $0.01 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.16 by $0.15. The company had revenue of $1.53 billion for the quarter, compared to the consensus estimate of $1.51 billion. Olin Corporation had a net margin of 0.82% and a return on equity of 7.40%. Olin Corporation’s quarterly revenue was up 11.9% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.24 EPS. On average, equities analysts predict that Olin Corporation will post $1.19 earnings per share for the current year.

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The business also recently declared a quarterly dividend, which will be paid on Monday, September 11th. Investors of record on Thursday, August 10th will be given a dividend of $0.20 per share. The ex-dividend date is Tuesday, August 8th. This represents a $0.80 annualized dividend and a yield of 2.71%. Olin Corporation’s payout ratio is currently 285.71%.

A number of institutional investors have recently modified their holdings of OLN. Bollard Group LLC raised its position in Olin Corporation by 0.6% in the first quarter. Bollard Group LLC now owns 3,180 shares of the specialty chemicals company’s stock valued at $105,000 after buying an additional 19 shares during the period. World Asset Management Inc raised its position in Olin Corporation by 1.7% in the first quarter. World Asset Management Inc now owns 10,125 shares of the specialty chemicals company’s stock valued at $333,000 after buying an additional 168 shares during the period. OppenheimerFunds Inc. raised its position in Olin Corporation by 0.5% in the first quarter. OppenheimerFunds Inc. now owns 44,497 shares of the specialty chemicals company’s stock valued at $1,462,000 after buying an additional 201 shares during the period. Meadow Creek Investment Management LLC raised its position in Olin Corporation by 6.9% in the first quarter. Meadow Creek Investment Management LLC now owns 4,464 shares of the specialty chemicals company’s stock valued at $147,000 after buying an additional 288 shares during the period. Finally, Neuburgh Advisers LLC raised its position in Olin Corporation by 6.9% in the first quarter. Neuburgh Advisers LLC now owns 6,138 shares of the specialty chemicals company’s stock valued at $202,000 after buying an additional 396 shares during the period. Hedge funds and other institutional investors own 93.05% of the company’s stock.

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, hydrochloric acid, hydrogen, bleach products and potassium hydroxide.

Analyst Recommendations for Olin Corporation (NYSE:OLN)

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