Olin Corporation (OLN) Given Consensus Rating of “Hold” by Analysts
Shares of Olin Corporation (NYSE:OLN) have received an average recommendation of “Hold” from the nine brokerages that are currently covering the firm, Marketbeat Ratings reports. Five investment analysts have rated the stock with a hold recommendation and four have assigned a buy recommendation to the company. The average 1 year price objective among brokerages that have issued a report on the stock in the last year is $34.83.
A number of research analysts have weighed in on OLN shares. Zacks Investment Research upgraded Olin Corporation from a “sell” rating to a “hold” rating in a report on Thursday, April 20th. Bank of America Corporation started coverage on Olin Corporation in a report on Monday, May 8th. They issued a “buy” rating and a $40.00 price objective on the stock. Tudor Pickering started coverage on Olin Corporation in a report on Friday, May 12th. They issued a “buy” rating and a $37.00 price objective on the stock. Royal Bank Of Canada restated a “buy” rating and issued a $35.00 price objective on shares of Olin Corporation in a report on Tuesday, May 16th. Finally, BidaskClub upgraded Olin Corporation from a “sell” rating to a “hold” rating in a report on Wednesday, June 14th.
In other Olin Corporation news, EVP John L. Mcintosh sold 24,000 shares of the firm’s stock in a transaction on Thursday, August 3rd. The stock was sold at an average price of $31.54, for a total value of $756,960.00. Following the completion of the sale, the executive vice president now directly owns 84,391 shares of the company’s stock, valued at approximately $2,661,692.14. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP John L. Mcintosh sold 16,070 shares of the firm’s stock in a transaction on Wednesday, August 2nd. The stock was sold at an average price of $31.02, for a total value of $498,491.40. Following the completion of the sale, the executive vice president now directly owns 60,391 shares of the company’s stock, valued at $1,873,328.82. The disclosure for this sale can be found here. 2.90% of the stock is owned by company insiders.
Several hedge funds have recently modified their holdings of the company. Bollard Group LLC boosted its stake in shares of Olin Corporation by 0.6% in the first quarter. Bollard Group LLC now owns 3,180 shares of the specialty chemicals company’s stock valued at $105,000 after buying an additional 19 shares during the last quarter. OLD Mutual Customised Solutions Proprietary Ltd. purchased a new stake in shares of Olin Corporation during the first quarter valued at $118,000. Meadow Creek Investment Management LLC boosted its stake in shares of Olin Corporation by 6.9% in the first quarter. Meadow Creek Investment Management LLC now owns 4,464 shares of the specialty chemicals company’s stock valued at $147,000 after buying an additional 288 shares during the last quarter. Creative Planning boosted its stake in shares of Olin Corporation by 130.8% in the second quarter. Creative Planning now owns 5,050 shares of the specialty chemicals company’s stock valued at $153,000 after buying an additional 2,862 shares during the last quarter. Finally, Zurcher Kantonalbank Zurich Cantonalbank boosted its stake in shares of Olin Corporation by 9.7% in the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 6,126 shares of the specialty chemicals company’s stock valued at $185,000 after buying an additional 544 shares during the last quarter. 92.85% of the stock is owned by institutional investors and hedge funds.
Shares of Olin Corporation (OLN) traded down 2.39% during mid-day trading on Tuesday, hitting $30.17. The company had a trading volume of 1,070,517 shares. The firm’s 50 day moving average is $30.14 and its 200-day moving average is $30.57. The firm has a market cap of $5.02 billion, a PE ratio of 117.39 and a beta of 1.43. Olin Corporation has a 12-month low of $18.24 and a 12-month high of $33.88.
Olin Corporation (NYSE:OLN) last announced its quarterly earnings data on Monday, July 31st. The specialty chemicals company reported $0.01 earnings per share for the quarter, missing analysts’ consensus estimates of $0.16 by $0.15. The firm had revenue of $1.53 billion during the quarter, compared to analysts’ expectations of $1.51 billion. Olin Corporation had a net margin of 0.72% and a return on equity of 5.80%. The company’s revenue for the quarter was up 11.9% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.24 EPS. On average, equities analysts expect that Olin Corporation will post $1.14 EPS for the current year.
The business also recently announced a quarterly dividend, which will be paid on Monday, September 11th. Shareholders of record on Thursday, August 10th will be paid a $0.20 dividend. This represents a $0.80 dividend on an annualized basis and a dividend yield of 2.65%. The ex-dividend date of this dividend is Tuesday, August 8th. Olin Corporation’s dividend payout ratio (DPR) is presently 320.00%.
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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