Olin Corporation (OLN) Rating Reiterated by SunTrust Banks, Inc.
Olin Corporation (NYSE:OLN)‘s stock had its “buy” rating reissued by research analysts at SunTrust Banks, Inc. in a report issued on Monday. They currently have a $46.00 price target on the specialty chemicals company’s stock. SunTrust Banks, Inc.’s target price indicates a potential upside of 27.99% from the company’s current price.
Several other equities research analysts have also recently issued reports on the company. Zacks Investment Research raised 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 set a $42.00 target price (up previously from $39.00) on shares of Olin Corporation in a research note on Tuesday, October 10th. BidaskClub cut Olin Corporation from a “buy” rating to a “hold” rating in a research note on Friday, July 28th. Citigroup Inc. initiated coverage on Olin Corporation in a research note on Wednesday, September 27th. They set a “buy” rating and a $39.00 target price for the company. Finally, TheStreet raised Olin Corporation from a “c+” rating to a “b” rating in a research note on Tuesday, October 31st. Five research analysts have rated the stock with a hold rating and six have given a buy rating to the company. Olin Corporation currently has an average rating of “Buy” and an average target price of $37.13.
Shares of Olin Corporation (NYSE OLN) opened at $35.94 on Monday. The company has a debt-to-equity ratio of 1.59, a quick ratio of 1.03 and a current ratio of 1.72. The stock has a market capitalization of $5,960.00, 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 has a one year low of $21.87 and a one year high of $37.52.
Olin Corporation (NYSE:OLN) last posted its earnings results on Monday, October 30th. The specialty chemicals company reported $0.31 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.35 by ($0.04). The business had revenue of $1.55 billion for the quarter, compared to analyst estimates of $1.58 billion. Olin Corporation had a return on equity of 6.05% and a net margin of 1.29%. Olin Corporation’s revenue was up 7.0% compared to the same quarter last year. During the same period last year, the business earned $0.11 EPS. equities analysts expect that Olin Corporation will post 0.9 EPS for the current year.
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In other news, Chairman John E. Fischer sold 37,583 shares of Olin Corporation stock in a transaction on Wednesday, November 1st. The stock was sold at an average price of $36.80, for a total value of $1,383,054.40. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, VP Stephen C. Curley sold 5,000 shares of Olin Corporation stock in a transaction on Tuesday, August 15th. The shares were sold at an average price of $30.34, for a total value of $151,700.00. Following the completion of the sale, the vice president now directly owns 23,837 shares of the company’s stock, valued at $723,214.58. The disclosure for this sale can be found here. Insiders sold 57,583 shares of company stock valued at $2,086,754 over the last ninety days. Insiders own 2.90% of the company’s stock.
A number of large investors have recently added to or reduced their stakes in the stock. Vanguard Group Inc. boosted its holdings in Olin Corporation by 1.9% in the second quarter. Vanguard Group Inc. now owns 14,685,258 shares of the specialty chemicals company’s stock valued at $444,670,000 after purchasing an additional 274,853 shares during the period. Balyasny Asset Management LLC boosted its holdings in Olin Corporation by 2.1% in the second quarter. Balyasny Asset Management LLC now owns 8,085,969 shares of the specialty chemicals company’s stock valued at $244,843,000 after purchasing an additional 165,655 shares during the period. TIAA CREF Investment Management LLC boosted its holdings in Olin Corporation by 5.1% in the second quarter. TIAA CREF Investment Management LLC now owns 8,039,915 shares of the specialty chemicals company’s stock valued at $243,449,000 after purchasing an additional 386,791 shares during the period. Iridian Asset Management LLC CT boosted its holdings in Olin Corporation by 28.0% in the second quarter. Iridian Asset Management LLC CT now owns 7,098,169 shares of the specialty chemicals company’s stock valued at $214,933,000 after purchasing an additional 1,553,430 shares during the period. Finally, Bank of New York Mellon Corp boosted its holdings in Olin Corporation by 2.5% in the second quarter. Bank of New York Mellon Corp now owns 3,257,411 shares of the specialty chemicals company’s stock valued at $98,635,000 after purchasing an additional 80,641 shares during the period. Hedge funds and other 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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