Olin Co. (OLN) Given Consensus Recommendation of “Hold” by Brokerages

Olin Co. (NYSE:OLN) has earned a consensus recommendation of “Hold” from the fourteen research firms that are presently covering the stock, Marketbeat Ratings reports. Two equities research analysts have rated the stock with a sell rating, four have assigned a hold rating and seven have issued a buy rating on the company. The average 1-year target price among analysts that have updated their coverage on the stock in the last year is $31.00.

Several research firms have weighed in on OLN. TheStreet downgraded shares of Olin from a “b-” rating to a “c+” rating in a research report on Monday, November 12th. Citigroup dropped their target price on shares of Olin from $33.00 to $26.00 and set a “buy” rating on the stock in a research report on Thursday, November 1st. Barclays dropped their target price on shares of Olin from $29.00 to $24.00 and set an “equal weight” rating on the stock in a research report on Wednesday, October 31st. Nomura dropped their target price on shares of Olin from $29.00 to $27.00 and set a “neutral” rating on the stock in a research report on Wednesday, October 31st. Finally, Royal Bank of Canada dropped their target price on shares of Olin to $22.00 and set a “sector perform” rating on the stock in a research report on Wednesday, October 31st.

In other Olin news, SVP John Maurice Sampson acquired 5,000 shares of the firm’s stock in a transaction on Tuesday, November 20th. The stock was acquired at an average cost of $19.84 per share, for a total transaction of $99,200.00. The purchase was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, Director Scott Mcdougald Sutton acquired 15,000 shares of the firm’s stock in a transaction on Thursday, November 1st. The shares were acquired at an average price of $21.62 per share, with a total value of $324,300.00. Following the completion of the purchase, the director now owns 15,000 shares in the company, valued at approximately $324,300. The disclosure for this purchase can be found here. Over the last 90 days, insiders have acquired 21,800 shares of company stock valued at $460,844. Company insiders own 1.70% of the company’s stock.

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. Vanguard Group Inc. lifted its stake in shares of Olin by 1.3% in the 3rd quarter. Vanguard Group Inc. now owns 15,522,700 shares of the specialty chemicals company’s stock valued at $398,623,000 after purchasing an additional 198,463 shares during the period. Morgan Stanley lifted its stake in shares of Olin by 93.7% in the 3rd quarter. Morgan Stanley now owns 1,840,101 shares of the specialty chemicals company’s stock valued at $47,253,000 after purchasing an additional 890,205 shares during the period. Nordea Investment Management AB lifted its stake in shares of Olin by 58.3% in the 3rd quarter. Nordea Investment Management AB now owns 152,961 shares of the specialty chemicals company’s stock valued at $3,928,000 after purchasing an additional 56,310 shares during the period. TIAA CREF Investment Management LLC lifted its stake in shares of Olin by 7.0% in the 3rd quarter. TIAA CREF Investment Management LLC now owns 8,529,381 shares of the specialty chemicals company’s stock valued at $219,035,000 after purchasing an additional 558,878 shares during the period. Finally, Macquarie Group Ltd. lifted its stake in shares of Olin by 1.4% in the 3rd quarter. Macquarie Group Ltd. now owns 3,943,971 shares of the specialty chemicals company’s stock valued at $101,281,000 after purchasing an additional 53,332 shares during the period. Institutional investors and hedge funds own 81.58% of the company’s stock.

Shares of Olin stock traded up $0.53 on Monday, reaching $20.96. The stock had a trading volume of 55,580 shares, compared to its average volume of 2,654,890. The company has a quick ratio of 1.13, a current ratio of 1.81 and a debt-to-equity ratio of 1.14. Olin has a 1 year low of $18.49 and a 1 year high of $38.84. The company has a market cap of $3.41 billion, a P/E ratio of 25.85, a PEG ratio of 0.32 and a beta of 1.75.

Olin (NYSE:OLN) last issued its quarterly earnings data on Monday, October 29th. The specialty chemicals company reported $0.66 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.75 by ($0.09). Olin had a return on equity of 10.70% and a net margin of 11.02%. The firm had revenue of $1.87 billion during the quarter, compared to analysts’ expectations of $1.80 billion. During the same period in the previous year, the firm earned $0.31 EPS. The firm’s quarterly revenue was up 20.4% on a year-over-year basis. As a group, equities research analysts forecast that Olin will post 1.91 EPS for the current fiscal year.

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, December 10th. Shareholders of record on Friday, November 9th will be paid a dividend of $0.20 per share. This represents a $0.80 annualized dividend and a yield of 3.82%. The ex-dividend date is Thursday, November 8th. Olin’s payout ratio is 98.77%.

Olin Company Profile

Olin Corporation manufactures and distributes chemical products in the United States and internationally. It operates through three segments: Chlor Alkali Products and Vinyls; Epoxy; and Winchester. The Chlor Alkali Products and Vinyls segment offers chlorine and caustic soda, ethylene dichloride and vinyl chloride monomers, methyl chloride, methylene chloride, chloroform, carbon tetrachloride, perchloroethylene, trichloroethylene and vinylidene chloride, hydrochloric acid, hydrogen, bleach products, and potassium hydroxide.

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Analyst Recommendations for Olin (NYSE:OLN)

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