Olin Corporation (OLN) Earns “Buy” Rating from SunTrust Banks, Inc.
Olin Corporation (NYSE:OLN)‘s stock had its “buy” rating reiterated by investment analysts at SunTrust Banks, Inc. in a note issued to investors on Monday. They currently have a $46.00 price objective on the specialty chemicals company’s stock. SunTrust Banks, Inc.’s price target points to a potential upside of 28.03% from the stock’s previous close.
Several other equities research analysts also recently weighed in on the stock. TheStreet raised shares of Olin Corporation from a “c+” rating to a “b” rating in a research note on Tuesday, October 31st. Zacks Investment Research raised shares of Olin Corporation from a “sell” rating to a “hold” rating in a research note on Tuesday, October 17th. Cowen and Company reissued an “outperform” rating and issued a $42.00 price objective (up from $39.00) on shares of Olin Corporation in a research report on Tuesday, October 10th. Citigroup Inc. assumed coverage on shares of Olin Corporation in a research report on Wednesday, September 27th. They issued a “buy” rating and a $39.00 price objective on the stock. Finally, BidaskClub raised shares of Olin Corporation from a “sell” rating to a “hold” rating in a research report on Wednesday, August 16th. Five analysts have rated the stock with a hold rating and six have issued a buy rating to the company. The company has an average rating of “Buy” and a consensus target price of $37.13.
Shares of Olin Corporation (OLN) traded up $0.46 during mid-day trading on Monday, hitting $35.93. 519,800 shares of the stock traded hands, compared to its average volume of 1,801,294. The company has a current ratio of 1.72, a quick ratio of 1.03 and a debt-to-equity ratio of 1.59. The stock has a market capitalization of $5,903.87, a price-to-earnings ratio of 43.79, a price-to-earnings-growth ratio of 4.06 and a beta of 1.41.
Olin Corporation (NYSE:OLN) last issued its quarterly earnings data on Monday, October 30th. The specialty chemicals company reported $0.31 EPS for the quarter, missing the consensus estimate of $0.35 by ($0.04). Olin Corporation had a return on equity of 6.05% and a net margin of 1.29%. The company had revenue of $1.55 billion during the quarter, compared to analyst estimates of $1.58 billion. During the same quarter in the prior year, the company posted $0.11 earnings per share. The business’s revenue was up 7.0% compared to the same quarter last year. analysts forecast that Olin Corporation will post 0.9 earnings per share for the current fiscal year.
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In related news, VP Dolores J. Ennico sold 15,000 shares of the stock in a transaction on Wednesday, November 1st. The shares were sold at an average price of $36.80, for a total transaction of $552,000.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, VP Stephen C. Curley sold 5,000 shares of the stock in a transaction on Tuesday, August 15th. The stock was sold at an average price of $30.34, for a total transaction of $151,700.00. Following the sale, the vice president now owns 23,837 shares of the company’s stock, valued at approximately $723,214.58. The disclosure for this sale can be found here. In the last quarter, insiders have sold 57,583 shares of company stock valued at $2,086,754. 2.90% of the stock is owned by company insiders.
Hedge funds have recently added to or reduced their stakes in the company. Jennison Associates LLC acquired a new stake in shares of Olin Corporation in the 2nd quarter worth $757,000. State Board of Administration of Florida Retirement System lifted its stake in shares of Olin Corporation by 133.5% in the 2nd quarter. State Board of Administration of Florida Retirement System now owns 190,557 shares of the specialty chemicals company’s stock worth $5,770,000 after acquiring an additional 108,934 shares during the period. Symphony Asset Management LLC lifted its stake in shares of Olin Corporation by 150.8% in the second quarter. Symphony Asset Management LLC now owns 36,261 shares of the specialty chemicals company’s stock valued at $1,098,000 after purchasing an additional 21,802 shares during the period. Prudential Financial Inc. lifted its stake in shares of Olin Corporation by 27.1% in the second quarter. Prudential Financial Inc. now owns 1,304,705 shares of the specialty chemicals company’s stock valued at $39,506,000 after purchasing an additional 277,783 shares during the period. Finally, TVR Capital Management LP lifted its stake in shares of Olin Corporation by 714.0% in the second quarter. TVR Capital Management LP now owns 442,597 shares of the specialty chemicals company’s stock valued at $13,401,000 after purchasing an additional 388,225 shares during the period. Institutional investors own 92.88% 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.
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