Olin (NYSE:OLN) Shares Up 7.2% – Still a Buy?

Olin Corporation (NYSE:OLN)’s share price rose 7.2% during mid-day trading on Tuesday . The company traded as high as $27.22 and last traded at $27.0690. Approximately 906,400 shares changed hands during mid-day trading, a decline of 72% from the average daily volume of 3,288,917 shares. The stock had previously closed at $25.26.

Analyst Upgrades and Downgrades

OLN has been the subject of a number of research reports. Truist Financial dropped their target price on shares of Olin from $23.00 to $20.00 and set a “hold” rating for the company in a report on Monday, February 2nd. KeyCorp lowered their price objective on shares of Olin from $29.00 to $26.00 and set an “overweight” rating for the company in a research report on Monday, February 2nd. UBS Group set a $21.00 price objective on shares of Olin in a research note on Monday, February 2nd. Royal Bank Of Canada cut their target price on shares of Olin from $24.00 to $21.00 and set a “sector perform” rating on the stock in a research report on Monday, February 2nd. Finally, Citigroup boosted their target price on shares of Olin from $21.00 to $26.00 and gave the stock a “neutral” rating in a research note on Thursday, March 12th. One research analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating, twelve have assigned a Hold rating and three have assigned a Sell rating to the company’s stock. According to MarketBeat.com, Olin has a consensus rating of “Hold” and an average price target of $23.73.

Olin Stock Performance

The company has a fifty day moving average price of $24.40 and a two-hundred day moving average price of $22.99. 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 company has a market capitalization of $3.25 billion, a P/E ratio of -75.10 and a beta of 1.56.

Olin (NYSE:OLN) last issued its quarterly earnings data on Thursday, January 29th. The specialty chemicals company reported ($0.58) earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates 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 during the quarter, compared to analyst estimates of $1.61 billion. During the same quarter last year, the business earned $0.09 EPS. The firm’s quarterly revenue was down .4% on a year-over-year basis. Equities analysts forecast that Olin Corporation will post 1.38 earnings per share for the current fiscal year.

Olin Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, March 13th. Stockholders of record on Tuesday, March 3rd were paid a dividend of $0.20 per share. The ex-dividend date of this dividend was Tuesday, March 3rd. This represents a $0.80 annualized dividend and a dividend yield of 2.8%. Olin’s dividend payout ratio (DPR) is presently -210.53%.

Insider Transactions at Olin

In related news, VP Angela M. Castle sold 2,379 shares of the business’s stock in a transaction on Tuesday, February 24th. The shares were sold at an average price of $24.25, for a total value of $57,690.75. Following the sale, the vice president owned 1,528 shares of the company’s stock, valued at $37,054. The trade was a 60.89% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, VP R Nichole Sumner sold 4,750 shares of the stock in a transaction on Tuesday, February 3rd. The shares were sold at an average price of $22.49, for a total value of $106,827.50. Following the completion of the sale, the vice president owned 24,771 shares of the company’s stock, valued at $557,099.79. The trade was a 16.09% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last 90 days, insiders have sold 99,379 shares of company stock worth $2,238,298. Company insiders own 1.60% of the company’s stock.

Hedge Funds Weigh In On Olin

Hedge funds have recently made changes to their positions in the stock. Rockefeller Capital Management L.P. lifted its stake in shares of Olin by 115.2% in the fourth quarter. Rockefeller Capital Management L.P. now owns 1,231 shares of the specialty chemicals company’s stock worth $26,000 after acquiring an additional 659 shares during the period. Nalls Sherbakoff Group LLC acquired a new stake in Olin during the 4th quarter valued at approximately $66,000. Hsbc Holdings PLC increased its position in Olin by 755.0% during the 4th quarter. Hsbc Holdings PLC now owns 80,166 shares of the specialty chemicals company’s stock valued at $1,690,000 after purchasing an additional 70,790 shares during the period. Virtu Financial LLC bought a new position in Olin during the 4th quarter worth approximately $250,000. Finally, Invesco Ltd. lifted its position in shares of Olin by 53.2% in the 4th quarter. Invesco Ltd. now owns 804,807 shares of the specialty chemicals company’s stock worth $16,764,000 after purchasing an additional 279,388 shares during the period. 88.67% of the stock is currently owned by institutional investors.

About Olin

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.