Olin Corporation (OLN) PT Raised to $37.00 at Cowen and Company
Olin Corporation (NYSE:OLN) had its price objective lifted by research analysts at Cowen and Company from $32.00 to $37.00 in a report issued on Friday. The brokerage presently has an “outperform” rating on the stock. Cowen and Company’s price target points to a potential upside of 20.99% from the company’s current price.
A number of other research firms also recently issued reports on OLN. Monness Crespi & Hardt downgraded shares of Olin Corporation from a “buy” rating to a “neutral” rating and set a $28.00 price objective on the stock. in a report on Thursday, February 2nd. They noted that the move was a valuation call. Longbow Research raised shares of Olin Corporation from an “underperform” rating to a “neutral” rating in a report on Thursday, February 2nd. Finally, Zacks Investment Research raised shares of Olin Corporation from a “hold” rating to a “buy” rating and set a $31.00 price objective on the stock in a report on Thursday, January 12th. Three analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. The company presently has an average rating of “Buy” and a consensus price target of $26.86.
Olin Corporation (NYSE:OLN) traded down 0.94% during trading on Friday, hitting $30.58. 1,755,633 shares of the company traded hands. The company’s market capitalization is $5.06 billion. The stock has a 50 day moving average price of $27.80 and a 200 day moving average price of $23.63. Olin Corporation has a 12-month low of $14.02 and a 12-month high of $31.43.
Olin Corporation (NYSE:OLN) last posted its quarterly earnings data on Tuesday, January 31st. The company reported $0.31 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.09 by $0.22. The firm had revenue of $1.39 billion for the quarter, compared to the consensus estimate of $1.36 billion. Olin Corporation had a negative net margin of 0.07% and a positive return on equity of 7.56%. The business’s revenue for the quarter was down 4.6% compared to the same quarter last year. During the same period in the previous year, the firm earned ($0.37) EPS. On average, equities analysts anticipate that Olin Corporation will post $1.38 earnings per share for the current year.
The firm also recently announced a quarterly dividend, which will be paid on Friday, March 10th. Stockholders of record on Friday, February 10th will be paid a dividend of $0.20 per share. This represents a $0.80 dividend on an annualized basis and a dividend yield of 2.62%. The ex-dividend date of this dividend is Wednesday, February 8th. Olin Corporation’s payout ratio is -2,665.78%.
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In other news, Director C Robert Bunch sold 10,000 shares of Olin Corporation stock in a transaction on Friday, February 10th. The stock was sold at an average price of $29.65, for a total transaction of $296,500.00. Following the sale, the director now directly owns 12,610 shares in the company, valued at approximately $373,886.50. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 2.80% of the company’s stock.
Large investors have recently added to or reduced their stakes in the company. First Interstate Bank boosted its stake in Olin Corporation by 1.6% in the fourth quarter. First Interstate Bank now owns 6,300 shares of the company’s stock worth $161,000 after buying an additional 100 shares during the last quarter. Ladenburg Thalmann Financial Services Inc. boosted its stake in Olin Corporation by 0.8% in the fourth quarter. Ladenburg Thalmann Financial Services Inc. now owns 14,929 shares of the company’s stock worth $384,000 after buying an additional 119 shares during the last quarter. State Treasurer State of Michigan boosted its stake in Olin Corporation by 0.3% in the third quarter. State Treasurer State of Michigan now owns 66,511 shares of the company’s stock worth $1,365,000 after buying an additional 200 shares during the last quarter. Paradigm Capital Management Inc. NY boosted its stake in Olin Corporation by 1.1% in the third quarter. Paradigm Capital Management Inc. NY now owns 25,675 shares of the company’s stock worth $527,000 after buying an additional 275 shares during the last quarter. Finally, Heartland Advisors Inc. boosted its stake in Olin Corporation by 2.1% in the third quarter. Heartland Advisors Inc. now owns 18,289 shares of the company’s stock worth $375,000 after buying an additional 372 shares during the last quarter.
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, hydrogen, bleach products and potassium hydroxide.
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