Olin Corporation (OLN) Upgraded to Hold by BidaskClub
BidaskClub upgraded shares of Olin Corporation (NYSE:OLN) from a sell rating to a hold rating in a report issued on Wednesday morning.
Several other equities analysts also recently issued reports on the company. Bank of America Corporation started coverage on Olin Corporation in a research report on Monday, May 8th. They issued a buy rating and a $40.00 target price on the stock. Zacks Investment Research raised Olin Corporation from a hold rating to a buy rating and set a $36.00 target price on the stock in a research report on Thursday, March 9th. Royal Bank Of Canada reissued a buy rating and issued a $35.00 target price on shares of Olin Corporation in a research report on Tuesday, May 16th. Finally, Tudor Pickering started coverage on Olin Corporation in a research report on Friday, May 12th. They issued a buy rating and a $37.00 target price on the stock. Four analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. Olin Corporation currently has an average rating of Buy and an average target price of $32.86.
Olin Corporation (OLN) opened at 29.77 on Wednesday. Olin Corporation has a 1-year low of $18.24 and a 1-year high of $33.88. The stock has a 50 day moving average price of $30.29 and a 200-day moving average price of $29.72. The stock has a market capitalization of $4.94 billion, a P/E ratio of 103.73 and a beta of 1.47.
Olin Corporation (NYSE:OLN) last released its earnings results on Tuesday, May 2nd. The specialty chemicals company reported $0.14 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.24 by $0.10. Olin Corporation had a net margin of 0.82% and a return on equity of 7.40%. The firm had revenue of $1.57 billion during the quarter, compared to analyst estimates of $1.44 billion. Equities research analysts expect that Olin Corporation will post $1.32 EPS for the current year.
The business also recently declared a quarterly dividend, which was paid on Friday, June 9th. Shareholders of record on Wednesday, May 10th were given a dividend of $0.20 per share. This represents a $0.80 annualized dividend and a yield of 2.69%. The ex-dividend date was Monday, May 8th. Olin Corporation’s dividend payout ratio is currently 285.71%.
Large investors have recently made changes to their positions in the company. Columbus Circle Investors bought a new stake in shares of Olin Corporation during the first quarter valued at $32,179,000. Great West Life Assurance Co. Can increased its stake in shares of Olin Corporation by 4.0% in the first quarter. Great West Life Assurance Co. Can now owns 98,121 shares of the specialty chemicals company’s stock valued at $3,224,000 after buying an additional 3,818 shares in the last quarter. World Asset Management Inc increased its stake in shares of Olin Corporation by 1.7% in the first quarter. World Asset Management Inc now owns 10,125 shares of the specialty chemicals company’s stock valued at $333,000 after buying an additional 168 shares in the last quarter. Blockhouse Capital Management LP bought a new stake in shares of Olin Corporation during the first quarter valued at $6,042,000. Finally, 1st Global Advisors Inc. bought a new stake in shares of Olin Corporation during the first quarter valued at $484,000. 94.17% of the stock is currently owned by institutional investors.
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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