Olin Corporation (OLN) Given Consensus Rating of “Buy” by Analysts
Olin Corporation (NYSE:OLN) has been given an average rating of “Buy” by the eleven ratings firms that are presently covering the firm, MarketBeat Ratings reports. Five equities research analysts have rated the stock with a hold recommendation and six have issued a buy recommendation on the company. The average 12 month target price among brokers that have covered the stock in the last year is $36.88.
Several equities research analysts have issued reports on OLN shares. BidaskClub downgraded shares of Olin Corporation from a “buy” rating to a “hold” rating in a research report on Friday, July 28th. Cowen and Company reiterated an “outperform” rating and issued a $42.00 price target (up from $39.00) on shares of Olin Corporation in a research report on Tuesday, October 10th. Zacks Investment Research upgraded shares of Olin Corporation from a “sell” rating to a “hold” rating in a research report on Tuesday, October 17th. UBS AG reiterated a “neutral” rating and issued a $30.00 price target (down from $33.00) on shares of Olin Corporation in a research report on Sunday, June 25th. Finally, 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 target for the company.
Olin Corporation (OLN) traded up 0.09% during trading on Friday, reaching $35.13. The company’s stock had a trading volume of 2,598,124 shares. The firm’s 50-day moving average is $33.96 and its 200-day moving average is $31.40. Olin Corporation has a 52-week low of $20.43 and a 52-week high of $36.84. The stock has a market cap of $5.84 billion, a P/E ratio of 135.12 and a beta of 1.42.
Olin Corporation (NYSE:OLN) last issued its quarterly earnings data on Monday, July 31st. The specialty chemicals company reported $0.01 earnings per share (EPS) 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 analyst estimates of $1.51 billion. Olin Corporation had a return on equity of 5.80% and a net margin of 0.72%. The company’s revenue was up 11.9% on a year-over-year basis. During the same quarter last year, the business earned $0.24 earnings per share. Equities research analysts forecast that Olin Corporation will post $1.02 EPS for the current year.
In other news, EVP John L. Mcintosh sold 24,000 shares of Olin Corporation stock in a transaction that occurred on Thursday, August 3rd. The shares were sold at an average price of $31.54, for a total value of $756,960.00. Following the completion of the sale, the executive vice president now directly owns 84,391 shares in the company, valued at $2,661,692.14. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, VP Stephen C. Curley sold 5,000 shares of Olin Corporation stock in a transaction that occurred on Tuesday, August 15th. The shares were sold at an average price of $30.34, for a total transaction of $151,700.00. Following the completion of the sale, the vice president now owns 23,837 shares of the company’s stock, valued at $723,214.58. The disclosure for this sale can be found here. Over the last quarter, insiders sold 45,070 shares of company stock valued at $1,407,151. 2.90% of the stock is owned by company insiders.
Institutional investors and hedge funds have recently made changes to their positions in the business. Jennison Associates LLC acquired a new position in Olin Corporation during the second quarter valued at approximately $757,000. State Board of Administration of Florida Retirement System raised its position in Olin Corporation by 133.5% during the second quarter. State Board of Administration of Florida Retirement System now owns 190,557 shares of the specialty chemicals company’s stock valued at $5,770,000 after purchasing an additional 108,934 shares in the last quarter. Symphony Asset Management LLC raised its position in Olin Corporation by 150.8% during 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 in the last quarter. Prudential Financial Inc. raised its position in Olin Corporation by 27.1% during 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 in the last quarter. Finally, Paloma Partners Management Co acquired a new position in Olin Corporation during the first quarter valued at approximately $1,698,000. Institutional investors and hedge funds own 92.62% of the company’s stock.
Olin Corporation Company Profile
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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