Olin (NYSE:OLN) Issues Quarterly Earnings Results, Misses Expectations By $0.30 EPS

Olin (NYSE:OLN) released its quarterly earnings results on Thursday. The specialty chemicals company reported ($0.58) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.28) by ($0.30), Zacks reports. Olin had a return on equity of 3.36% and a net margin of 0.79%.

Olin Price Performance

Shares of Olin stock traded down $0.37 during trading hours on Thursday, reaching $22.37. The stock had a trading volume of 5,149,982 shares, compared to its average volume of 3,081,940. The firm has a market capitalization of $2.55 billion, a PE ratio of 48.64, a PEG ratio of 3.39 and a beta of 1.64. The stock’s 50 day moving average is $21.62 and its 200 day moving average is $22.04. The company has a current ratio of 1.56, a quick ratio of 0.89 and a debt-to-equity ratio of 1.49. Olin has a twelve month low of $17.66 and a twelve month high of $32.88.

Olin Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, December 12th. Stockholders of record on Friday, November 28th were issued a $0.20 dividend. This represents a $0.80 annualized dividend and a dividend yield of 3.6%. The ex-dividend date of this dividend was Friday, November 28th. Olin’s payout ratio is 173.91%.

Analysts Set New Price Targets

A number of equities research analysts have weighed in on OLN shares. Weiss Ratings reiterated a “sell (d+)” rating on shares of Olin in a research note on Thursday, January 22nd. Wells Fargo & Company cut their price target on Olin from $25.00 to $22.00 and set an “equal weight” rating for the company in a research note on Wednesday, October 29th. Truist Financial boosted their target price on shares of Olin from $21.00 to $23.00 and gave the stock a “hold” rating in a report on Wednesday, January 21st. Mizuho set a $26.00 target price on Olin in a research report on Friday, October 3rd. Finally, Royal Bank Of Canada boosted their price target on shares of Olin from $22.00 to $24.00 and gave the stock a “sector perform” rating in a research report on Friday, January 16th. One analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating, eleven have assigned a Hold rating and two have given a Sell rating to the company’s stock. According to data from MarketBeat, Olin currently has an average rating of “Hold” and a consensus target price of $24.29.

Insider Activity at Olin

In other Olin news, VP Teresa M. Vermillion sold 4,500 shares of the stock in a transaction dated Wednesday, November 26th. The shares were sold at an average price of $20.86, for a total transaction of $93,870.00. Following the completion of the transaction, the vice president owned 17,199 shares of the company’s stock, valued at $358,771.14. This trade represents a 20.74% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. 1.70% of the stock is currently owned by corporate insiders.

Institutional Trading of Olin

Several institutional investors and hedge funds have recently made changes to their positions in OLN. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. acquired a new stake in Olin during the 1st quarter worth $32,000. NewEdge Advisors LLC boosted its stake in shares of Olin by 45.0% during the third quarter. NewEdge Advisors LLC now owns 2,323 shares of the specialty chemicals company’s stock worth $58,000 after buying an additional 721 shares during the period. Headlands Technologies LLC grew its holdings in shares of Olin by 67.6% during the second quarter. Headlands Technologies LLC now owns 4,400 shares of the specialty chemicals company’s stock worth $88,000 after buying an additional 1,775 shares during the last quarter. Tower Research Capital LLC TRC increased its position in Olin by 20.5% in the 2nd quarter. Tower Research Capital LLC TRC now owns 7,031 shares of the specialty chemicals company’s stock valued at $141,000 after acquiring an additional 1,195 shares during the period. Finally, Northwestern Mutual Wealth Management Co. raised its stake in Olin by 17.0% during the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 7,930 shares of the specialty chemicals company’s stock valued at $159,000 after acquiring an additional 1,152 shares during the last quarter. 88.67% of the stock is owned by hedge funds and other institutional investors.

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.