Zacks Investment Research downgraded shares of Olin (NYSE:OLN) from a hold rating to a sell rating in a research report released on Thursday morning.

According to Zacks, “Earnings estimates for Olin for the fourth quarter and full-year 2018 have been going down lately. Olin is facing certain challenges in its Winchester unit including higher commodity material costs. Moreover, raw material cost inflation and commodity cost headwinds may dent its performance. The company’s high debt level is another concern. Olin has also underperformed the industry it belongs to in a year’s time.”

A number of other research firms have also issued reports on OLN. ValuEngine lowered Olin from a sell rating to a strong sell rating in a report on Tuesday, September 18th. Barclays reduced their target price on Olin from $29.00 to $24.00 and set an equal weight rating for the company in a report on Wednesday, October 31st. Stifel Nicolaus started coverage on Olin in a report on Monday, December 10th. They issued a buy rating and a $33.00 target price for the company. TheStreet lowered Olin from a b- rating to a c+ rating in a report on Monday, November 12th. Finally, Nomura reduced their target price on Olin from $29.00 to $27.00 and set a neutral rating for the company in a report on Wednesday, October 31st. Two research analysts have rated the stock with a sell rating, four have assigned a hold rating and seven have issued a buy rating to the company. Olin presently has an average rating of Hold and an average target price of $32.00.

OLN opened at $22.89 on Thursday. The firm has a market cap of $3.71 billion, a PE ratio of 28.26, a P/E/G ratio of 0.28 and a beta of 1.52. The company has a debt-to-equity ratio of 1.14, a current ratio of 1.81 and a quick ratio of 1.13. Olin has a fifty-two week low of $17.87 and a fifty-two week high of $38.75.

Olin (NYSE:OLN) last released its quarterly earnings data on Monday, October 29th. The specialty chemicals company reported $0.66 earnings per share for the quarter, missing the consensus estimate of $0.75 by ($0.09). The company had revenue of $1.87 billion for the quarter, compared to the consensus estimate of $1.80 billion. Olin had a return on equity of 10.70% and a net margin of 11.02%. The business’s revenue was up 20.4% compared to the same quarter last year. During the same period in the prior year, the business earned $0.31 earnings per share. Equities research analysts forecast that Olin will post 1.88 earnings per share for the current fiscal year.

In other Olin news, SVP John Maurice Sampson bought 5,000 shares of the stock in a transaction on Tuesday, November 20th. The shares were purchased at an average cost of $19.84 per share, with a total value of $99,200.00. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Scott Mcdougald Sutton bought 15,000 shares of the stock in a transaction on Thursday, November 1st. The shares were acquired at an average cost of $21.62 per share, for a total transaction of $324,300.00. Following the completion of the transaction, the director now directly owns 15,000 shares of the company’s stock, valued at $324,300. The disclosure for this purchase can be found here. Over the last quarter, insiders have purchased 21,800 shares of company stock valued at $460,844. 1.70% of the stock is owned by corporate insiders.

Institutional investors have recently bought and sold shares of the business. IMS Capital Management acquired a new stake in shares of Olin in the third quarter valued at about $88,000. Baird Financial Group Inc. acquired a new stake in shares of Olin in the second quarter valued at about $204,000. MML Investors Services LLC acquired a new stake in shares of Olin in the third quarter valued at about $210,000. Acadian Asset Management LLC acquired a new stake in shares of Olin in the third quarter valued at about $236,000. Finally, MAI Capital Management acquired a new stake in shares of Olin in the second quarter valued at about $240,000. 86.92% of the stock is currently owned by hedge funds and other institutional investors.

About Olin

Olin Corporation manufactures and distributes chemical products in the United States and internationally. It operates through three segments: Chlor Alkali Products and Vinyls; Epoxy; and Winchester. The Chlor Alkali Products and Vinyls segment offers chlorine and caustic soda, ethylene dichloride and vinyl chloride monomers, methyl chloride, methylene chloride, chloroform, carbon tetrachloride, perchloroethylene, trichloroethylene and vinylidene chloride, hydrochloric acid, hydrogen, bleach products, and potassium hydroxide.

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