SunTrust Banks Reaffirms Buy Rating for Olin (OLN)
SunTrust Banks reiterated their buy rating on shares of Olin (NYSE:OLN) in a research report released on Tuesday morning. SunTrust Banks also issued estimates for Olin’s Q1 2019 earnings at $0.67 EPS, Q2 2019 earnings at $0.74 EPS, Q3 2019 earnings at $0.98 EPS and Q4 2019 earnings at $1.00 EPS.
A number of other equities analysts also recently commented on OLN. Zacks Investment Research upgraded Olin from a sell rating to a hold rating in a report on Tuesday, October 17th. TheStreet upgraded Olin from a c+ rating to a b rating in a report on Tuesday, October 31st. Royal Bank of Canada restated a buy rating and set a $42.00 target price on shares of Olin in a report on Thursday, December 14th. Vertical Research upgraded Olin from a hold rating to a buy rating in a report on Wednesday, January 3rd. Finally, Morgan Stanley initiated coverage on Olin in a report on Tuesday, January 9th. They set an overweight rating and a $45.00 target price for the company. Three analysts have rated the stock with a hold rating and nine have issued a buy rating to the company’s stock. The stock currently has an average rating of Buy and a consensus target price of $39.80.
Olin (NYSE OLN) opened at $32.27 on Tuesday. The company has a debt-to-equity ratio of 1.31, a quick ratio of 1.07 and a current ratio of 1.78. The company has a market capitalization of $5,370.00, a P/E ratio of 9.96, a P/E/G ratio of 0.95 and a beta of 1.35. Olin has a twelve month low of $27.79 and a twelve month high of $38.84.
The company also recently declared a quarterly dividend, which will be paid on Friday, March 9th. Investors of record on Friday, February 9th will be paid a $0.20 dividend. The ex-dividend date is Thursday, February 8th. This represents a $0.80 annualized dividend and a yield of 2.48%. Olin’s payout ratio is 24.69%.
In other news, Director Randall W. Larrimore purchased 800 shares of Olin stock in a transaction that occurred on Monday, February 12th. The shares were bought at an average cost of $31.28 per share, with a total value of $25,024.00. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 2.90% of the stock is owned by corporate insiders.
A number of hedge funds have recently modified their holdings of the stock. BlackRock Inc. grew its stake in Olin by 5.3% in the fourth quarter. BlackRock Inc. now owns 16,689,125 shares of the specialty chemicals company’s stock worth $593,800,000 after purchasing an additional 842,715 shares during the period. Kensico Capital Management Corp grew its stake in Olin by 43.3% in the third quarter. Kensico Capital Management Corp now owns 7,800,000 shares of the specialty chemicals company’s stock worth $267,150,000 after purchasing an additional 2,355,000 shares during the period. Iridian Asset Management LLC CT grew its stake in Olin by 5.3% in the fourth quarter. Iridian Asset Management LLC CT now owns 7,760,477 shares of the specialty chemicals company’s stock worth $276,118,000 after purchasing an additional 390,184 shares during the period. Macquarie Group Ltd. grew its stake in Olin by 6.6% in the third quarter. Macquarie Group Ltd. now owns 3,281,883 shares of the specialty chemicals company’s stock worth $112,404,000 after purchasing an additional 201,896 shares during the period. Finally, Jennison Associates LLC grew its stake in Olin by 8.7% in the fourth quarter. Jennison Associates LLC now owns 2,165,117 shares of the specialty chemicals company’s stock worth $77,035,000 after purchasing an additional 172,700 shares during the period. 90.08% of the stock is currently owned by institutional investors.
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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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