An issue of Olin Corporation (NYSE:OLN) bonds fell 0.5% as a percentage of their face value during trading on Wednesday. The high-yield issue of debt has a 10% coupon and is set to mature on October 15, 2025. The bonds in the issue are now trading at $123.00 and were trading at $122.38 last week. Price changes in a company’s bonds in credit markets often predict parallel changes in its stock price.

A number of equities analysts have recently weighed in on OLN shares. Royal Bank Of Canada reaffirmed a “buy” rating and set a $35.00 target price on shares of Olin Corporation in a research report on Tuesday, May 16th. Zacks Investment Research raised Olin Corporation from a “sell” rating to a “hold” rating in a research report on Thursday, April 20th. Cowen and Company reaffirmed an “outperform” rating and set a $39.00 target price (up from $37.00) on shares of Olin Corporation in a research report on Thursday, June 22nd. Bank of America Corporation started coverage on Olin Corporation in a research report on Monday, May 8th. They set a “buy” rating and a $40.00 target price on the stock. 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 price target for the company. Four equities research analysts have rated the stock with a hold rating and five have given a buy rating to the stock. The stock presently has a consensus rating of “Buy” and an average target price of $32.75.

Shares of Olin Corporation (OLN) opened at 30.87 on Friday. The stock has a market capitalization of $5.12 billion, a price-to-earnings ratio of 107.56 and a beta of 1.44. Olin Corporation has a 52-week low of $18.24 and a 52-week high of $33.88. The company has a 50-day moving average price of $29.90 and a 200-day moving average price of $30.32.

Olin Corporation (NYSE:OLN) last posted its quarterly earnings results on Tuesday, May 2nd. The specialty chemicals company reported $0.14 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.24 by $0.10. Olin Corporation had a return on equity of 7.40% and a net margin of 0.82%. The business had revenue of $1.57 billion during the quarter, compared to analysts’ expectations of $1.44 billion. On average, equities analysts anticipate that Olin Corporation will post $1.19 earnings per share for the current year.

Several hedge funds and other institutional investors have recently bought and sold shares of the company. Envestnet Asset Management Inc. boosted its position in Olin Corporation by 75.8% in the fourth quarter. Envestnet Asset Management Inc. now owns 12,879 shares of the specialty chemicals company’s stock valued at $328,000 after buying an additional 5,553 shares in the last quarter. Thrivent Financial for Lutherans boosted its position in Olin Corporation by 9.5% in the fourth quarter. Thrivent Financial for Lutherans now owns 28,310 shares of the specialty chemicals company’s stock valued at $725,000 after buying an additional 2,450 shares in the last quarter. CENTRAL TRUST Co boosted its position in Olin Corporation by 10.2% in the first quarter. CENTRAL TRUST Co now owns 10,770 shares of the specialty chemicals company’s stock valued at $354,000 after buying an additional 1,000 shares in the last quarter. Sheets Smith Wealth Management acquired a new position in Olin Corporation during the first quarter valued at $221,000. Finally, Bank of Montreal Can boosted its position in Olin Corporation by 2.4% in the first quarter. Bank of Montreal Can now owns 142,661 shares of the specialty chemicals company’s stock valued at $4,689,000 after buying an additional 3,382 shares in the last quarter. Hedge funds and other institutional investors own 93.01% of the company’s stock.

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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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