Olin Corporation’s (OLN) “Buy” Rating Reiterated at SunTrust Banks, Inc.
SunTrust Banks, Inc. reiterated their buy rating on shares of Olin Corporation (NYSE:OLN) in a research note released on Monday morning. The brokerage currently has a $44.00 target price on the specialty chemicals company’s stock, up from their previous target price of $36.00.
Other equities research analysts also recently issued research reports about the company. Cowen and Company set a $39.00 target price on Olin Corporation and gave the stock a buy rating in a report on Friday, July 28th. BidaskClub raised Olin Corporation from a hold rating to a buy rating in a report on Sunday, July 16th. Royal Bank Of Canada reissued a buy rating and issued a $35.00 price target on shares of Olin Corporation in a report on Tuesday, June 20th. Citigroup Inc. assumed coverage on Olin Corporation in a report on Wednesday, September 27th. They issued a buy rating and a $39.00 price target for the company. Finally, UBS AG reissued a neutral rating and issued a $30.00 price target (down from $33.00) on shares of Olin Corporation in a report on Sunday, June 25th. One investment analyst has rated the stock with a sell rating, four have issued a hold rating and six have assigned a buy rating to the stock. The stock has an average rating of Hold and a consensus target price of $36.50.
Shares of Olin Corporation (NYSE OLN) opened at 36.40 on Monday. The stock has a market cap of $6.05 billion, a price-to-earnings ratio of 141.63 and a beta of 1.42. Olin Corporation has a 52-week low of $19.62 and a 52-week high of $36.84. The stock’s 50 day moving average is $32.25 and its 200 day moving average is $31.14.
Olin Corporation (NYSE:OLN) last released its earnings results on Monday, July 31st. The specialty chemicals company reported $0.01 EPS for the quarter, missing the Zacks’ consensus estimate of $0.16 by ($0.15). Olin Corporation had a return on equity of 5.80% and a net margin of 0.72%. The firm had revenue of $1.53 billion for the quarter, compared to analyst estimates of $1.51 billion. During the same period last year, the firm earned $0.24 EPS. The company’s revenue for the quarter was up 11.9% compared to the same quarter last year. On average, equities analysts predict that Olin Corporation will post $1.07 EPS for the current fiscal year.
The business also recently declared a quarterly dividend, which was paid on Monday, September 11th. Shareholders of record on Thursday, August 10th were issued a $0.20 dividend. This represents a $0.80 dividend on an annualized basis and a yield of 2.20%. The ex-dividend date of this dividend was Tuesday, August 8th. Olin Corporation’s payout ratio is presently 320.00%.
In other Olin Corporation news, VP Stephen C. Curley sold 5,000 shares of the business’s stock in a transaction that occurred on Tuesday, August 15th. The stock was sold at an average price of $30.34, for a total value of $151,700.00. Following the completion of the transaction, the vice president now directly owns 23,837 shares of the company’s stock, valued at $723,214.58. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP John L. Mcintosh sold 16,070 shares of the business’s stock in a transaction that occurred on Wednesday, August 2nd. The shares were sold at an average price of $31.02, for a total value of $498,491.40. Following the completion of the transaction, the executive vice president now directly owns 60,391 shares of the company’s stock, valued at $1,873,328.82. The disclosure for this sale can be found here. Insiders sold 45,070 shares of company stock valued at $1,407,151 over the last three months. 2.90% of the stock is currently owned by corporate insiders.
Several institutional investors have recently bought and sold shares of the company. OppenheimerFunds Inc. increased its position in shares of 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 in the last quarter. World Asset Management Inc increased its position in shares of Olin Corporation by 2.3% in the second quarter. World Asset Management Inc now owns 10,353 shares of the specialty chemicals company’s stock valued at $313,000 after buying an additional 228 shares in the last quarter. Teacher Retirement System of Texas increased its position in shares of Olin Corporation by 3.5% in the second quarter. Teacher Retirement System of Texas now owns 13,355 shares of the specialty chemicals company’s stock valued at $404,000 after buying an additional 453 shares in the last quarter. Anchor Capital Advisors LLC increased its position in shares of Olin Corporation by 1.9% in the first quarter. Anchor Capital Advisors LLC now owns 24,482 shares of the specialty chemicals company’s stock valued at $805,000 after buying an additional 455 shares in the last quarter. Finally, Zurcher Kantonalbank Zurich Cantonalbank increased its position in shares of Olin Corporation by 9.7% in the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 6,126 shares of the specialty chemicals company’s stock valued at $185,000 after buying an additional 544 shares in the last quarter. Institutional investors and hedge funds own 92.62% 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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