Olin (NYSE:OLN) Upgraded to Hold at Barclays

Olin (NYSE:OLN) was upgraded by investment analysts at Barclays to a “hold” rating in a research note issued to investors on Monday, Zacks reports.

A number of other analysts also recently weighed in on OLN. UBS Group decreased their price target on shares of Olin from $21.00 to $18.00 and set a “neutral” rating for the company in a research report on Monday, October 5th. Truist Financial cut their price target on shares of Olin from $24.00 to $20.00 and set a “hold” rating on the stock in a report on Monday, August 3rd. Wells Fargo & Company reduced their price objective on shares of Olin from $20.00 to $16.00 and set an “equal weight” rating on the stock in a research note on Thursday, October 1st. JPMorgan Chase & Co. reduced their price objective on shares of Olin from $26.00 to $25.00 and set a “neutral” rating on the stock in a research note on Thursday, June 18th. Finally, Weiss Ratings reissued a “sell (d)” rating on shares of Olin in a report on Wednesday, August 19th. One equities research analyst has rated the stock with a Buy rating, twelve have assigned a Hold rating and three have assigned a Sell rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Reduce” and an average price target of $20.43.

Olin Price Performance

OLN stock opened at $15.01 on Monday. The company has a quick ratio of 0.87, a current ratio of 1.42 and a debt-to-equity ratio of 1.77. Olin has a 52-week low of $14.64 and a 52-week high of $30.46. The stock’s 50 day moving average is $17.12 and its two-hundred day moving average is $22.06. The company has a market capitalization of $1.71 billion, a PE ratio of -12.20 and a beta of 1.23.

Olin (NYSE:OLN) last announced its earnings results on Thursday, July 30th. The specialty chemicals company reported ($0.12) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.13 by ($0.25). The business had revenue of $1.74 billion during the quarter, compared to analyst estimates of $1.81 billion. Olin had a negative net margin of 2.08% and a negative return on equity of 4.76%. The business’s revenue for the quarter was down .9% on a year-over-year basis. During the same period in the previous year, the company earned ($0.01) earnings per share. Analysts predict that Olin will post -0.68 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the company. Dimensional Fund Advisors LP increased its stake in Olin by 22.4% during the first quarter. Dimensional Fund Advisors LP now owns 5,627,997 shares of the specialty chemicals company’s stock valued at $167,311,000 after purchasing an additional 1,031,498 shares during the last quarter. Bank of New York Mellon Corp raised its holdings in shares of Olin by 1.0% during the first quarter. Bank of New York Mellon Corp now owns 1,232,912 shares of the specialty chemicals company’s stock valued at $36,654,000 after buying an additional 12,290 shares during the last quarter. First Trust Advisors LP boosted its position in Olin by 80.8% during the 1st quarter. First Trust Advisors LP now owns 713,041 shares of the specialty chemicals company’s stock worth $21,199,000 after acquiring an additional 318,588 shares during the period. Amundi grew its position in Olin by 337.2% in the 1st quarter. Amundi now owns 684,036 shares of the specialty chemicals company’s stock valued at $20,336,000 after buying an additional 527,586 shares in the last quarter. Finally, Segall Bryant & Hamill LLC acquired a new position in shares of Olin during the first quarter valued at approximately $14,770,000. Institutional investors and hedge funds own 88.67% of the company’s stock.

About Olin

Olin Corporation is a global manufacturer of chemical products and ammunition. The company operates through its Chlor Alkali Products and Vinyls, Epoxy, and Winchester businesses, serving customers in a range of industrial, commercial, and consumer markets.

Olin’s Chlor Alkali Products and Vinyls business produces chlorine, caustic soda, hydrochloric acid, hydrogen, bleach products, chlorinated organic chemicals, and related materials used in water treatment, construction, pulp and paper, energy, and other manufacturing applications.