Analysts Set Olin Corporation (OLN) PT at $37.13
Shares of Olin Corporation (NYSE:OLN) have received an average recommendation of “Buy” from the twelve brokerages that are presently covering the company, Marketbeat Ratings reports. Five equities research analysts have rated the stock with a hold rating and six have given a buy rating to the company. The average 12-month target price among analysts that have updated their coverage on the stock in the last year is $37.13.
A number of research analysts have issued reports on OLN shares. BidaskClub lowered shares of Olin Corporation from a “buy” rating to a “hold” rating in a research report on Friday, July 28th. Cowen and Company restated an “outperform” rating and set a $42.00 target price (up previously from $39.00) on shares of Olin Corporation in a research report on Tuesday, October 10th. Zacks Investment Research upgraded shares of Olin Corporation from a “sell” rating to a “hold” rating in a research report on Tuesday, October 17th. Citigroup Inc. started coverage on shares of Olin Corporation in a research report on Wednesday, September 27th. They set a “buy” rating and a $39.00 target price on the stock. Finally, TheStreet upgraded shares of Olin Corporation from a “c+” rating to a “b” rating in a research report on Tuesday, October 31st.
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In related news, Chairman John E. Fischer sold 37,583 shares of the stock in a transaction that occurred on Wednesday, November 1st. The shares were sold at an average price of $36.80, for a total value of $1,383,054.40. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP John L. Mcintosh sold 9,500 shares of the stock in a transaction that occurred on Wednesday, November 15th. The shares were sold at an average price of $35.42, for a total transaction of $336,490.00. The disclosure for this sale can be found here. In the last three months, insiders sold 75,083 shares of company stock valued at $2,741,284. 2.90% of the stock is owned by insiders.
Large investors have recently modified their holdings of the stock. Jennison Associates LLC bought a new position in Olin Corporation in the 2nd quarter valued at approximately $757,000. State Board of Administration of Florida Retirement System lifted its stake in Olin Corporation by 133.5% in the 2nd quarter. State Board of Administration of Florida Retirement System now owns 190,557 shares of the specialty chemicals company’s stock valued at $5,770,000 after purchasing an additional 108,934 shares during the last quarter. Symphony Asset Management LLC lifted its stake in Olin Corporation by 150.8% in the 2nd quarter. Symphony Asset Management LLC now owns 36,261 shares of the specialty chemicals company’s stock valued at $1,098,000 after purchasing an additional 21,802 shares during the last quarter. Prudential Financial Inc. lifted its stake in Olin Corporation by 27.1% in the 2nd quarter. Prudential Financial Inc. now owns 1,304,705 shares of the specialty chemicals company’s stock valued at $39,506,000 after purchasing an additional 277,783 shares during the last quarter. Finally, TVR Capital Management LP lifted its stake in Olin Corporation by 714.0% in the 2nd quarter. TVR Capital Management LP now owns 442,597 shares of the specialty chemicals company’s stock valued at $13,401,000 after purchasing an additional 388,225 shares during the last quarter. 95.49% of the stock is owned by institutional investors and hedge funds.
Shares of Olin Corporation (OLN) traded up $0.16 on Thursday, reaching $36.23. 2,066,470 shares of the company were exchanged, compared to its average volume of 1,612,330. Olin Corporation has a twelve month low of $24.88 and a twelve month high of $37.52. The firm has a market cap of $6,030.37, a price-to-earnings ratio of 44.73, a P/E/G ratio of 4.03 and a beta of 1.41. The company has a debt-to-equity ratio of 1.59, a quick ratio of 1.03 and a current ratio of 1.72.
Olin Corporation (NYSE:OLN) last announced its quarterly earnings results on Monday, October 30th. The specialty chemicals company reported $0.31 EPS for the quarter, missing the Zacks’ consensus estimate of $0.35 by ($0.04). Olin Corporation had a net margin of 1.29% and a return on equity of 6.05%. The company had revenue of $1.55 billion during the quarter, compared to analyst estimates of $1.58 billion. During the same quarter last year, the company posted $0.11 EPS. The firm’s quarterly revenue was up 7.0% on a year-over-year basis. analysts anticipate that Olin Corporation will post 0.93 earnings per share for the current year.
The business also recently disclosed a quarterly dividend, which will be paid on Monday, December 11th. Investors of record on Friday, November 10th will be paid a $0.20 dividend. This represents a $0.80 annualized dividend and a yield of 2.21%. The ex-dividend date is Thursday, November 9th. Olin Corporation’s payout ratio is 177.78%.
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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