Olin’s (OLN) Hold Rating Reiterated at Citigroup

Citigroup reaffirmed their hold rating on shares of Olin (NYSE:OLN) in a research report report published on Tuesday morning, MarketBeat reports. Citigroup currently has a $19.00 target price on the specialty chemicals company’s stock.

A number of other research firms have also commented on OLN. Weiss Ratings reaffirmed a “sell (d)” rating on shares of Olin in a report on Wednesday, August 19th. KeyCorp began coverage on Olin in a research note on Friday, September 11th. They set an “overweight” rating and a $26.00 price objective on the stock. Wall Street Zen cut Olin from a “sell” rating to a “strong sell” rating in a report on Saturday, August 8th. The Goldman Sachs Group cut their target price on Olin from $24.00 to $20.00 and set a “neutral” rating for the company in a research note on Tuesday, August 4th. Finally, BMO Capital Markets reduced their target price on Olin from $30.00 to $25.00 and set a “market perform” rating for the company in a report on Monday, July 6th. One analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating, eleven have assigned a Hold rating and three have assigned a Sell rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $21.77.

Olin Stock Performance

NYSE OLN opened at $17.01 on Tuesday. The firm has a market cap of $1.94 billion, a P/E ratio of -13.83 and a beta of 1.20. The company has a quick ratio of 0.87, a current ratio of 1.42 and a debt-to-equity ratio of 1.77. The company’s 50 day moving average is $19.24 and its 200-day moving average is $23.31. Olin has a 12-month low of $16.68 and a 12-month high of $30.46.

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

Olin Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, September 11th. Stockholders of record on Thursday, August 27th were given a dividend of $0.20 per share. This represents a $0.80 dividend on an annualized basis and a dividend yield of 4.7%. The ex-dividend date was Thursday, August 27th. Olin’s payout ratio is -65.04%.

Institutional Investors Weigh In On Olin

A number of institutional investors and hedge funds have recently made changes to their positions in the business. Dimensional Fund Advisors LP increased its stake in Olin by 22.4% in 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 acquiring an additional 1,031,498 shares during the last quarter. Pzena Investment Management LLC lifted its stake in Olin by 17.5% during the fourth quarter. Pzena Investment Management LLC now owns 4,507,913 shares of the specialty chemicals company’s stock worth $93,900,000 after purchasing an additional 671,250 shares during the last quarter. Bank of New York Mellon Corp lifted its stake in 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 worth $36,654,000 after purchasing an additional 12,290 shares during the last quarter. First Trust Advisors LP boosted its holdings in shares of Olin by 80.8% in the 1st quarter. First Trust Advisors LP now owns 713,041 shares of the specialty chemicals company’s stock worth $21,199,000 after purchasing an additional 318,588 shares in the last quarter. Finally, Amundi boosted its holdings in shares of Olin by 337.2% in the 1st quarter. Amundi now owns 684,036 shares of the specialty chemicals company’s stock worth $20,336,000 after purchasing an additional 527,586 shares in the last quarter. Hedge funds and other institutional investors own 88.67% of the company’s stock.

Olin Company Profile

Olin Corporation is a global manufacturer of chemicals and ammunition headquartered in Clayton, Missouri. The company operates through two primary businesses: Chlor Alkali Products and Vinyls and Winchester.

Olin’s Chlor Alkali Products and Vinyls business produces essential chemicals including chlorine, caustic soda, hydrogen, hydrochloric acid, bleach products and related chlorinated compounds. These materials are used in water treatment, pulp and paper, construction, plastics, cleaning products and other industrial applications.