Olin Co. (NYSE:OLN) Short Interest Update

Olin Co. (NYSE:OLN) was the recipient of a large increase in short interest in the month of May. As of May 15th, there was short interest totalling 8,120,000 shares, an increase of 8.4% from the April 30th total of 7,490,000 shares. Based on an average trading volume of 3,500,000 shares, the short-interest ratio is currently 2.3 days. Currently, 5.2% of the shares of the company are sold short.

Several research firms recently issued reports on OLN. ValuEngine downgraded Olin from a “strong-buy” rating to a “buy” rating in a research report on Thursday, April 2nd. KeyCorp started coverage on Olin in a research report on Wednesday, March 25th. They set a “sector weight” rating and a $19.00 price target on the stock. Royal Bank of Canada downgraded Olin from a “sector perform” rating to an “underperform” rating and cut their price target for the stock from $16.00 to $7.00 in a research report on Thursday, March 26th. SunTrust Banks lowered their target price on shares of Olin from $17.00 to $12.00 and set a “hold” rating on the stock in a research note on Thursday, March 26th. Finally, Vertical Research lowered shares of Olin from a “buy” rating to a “hold” rating and set a $15.00 target price on the stock. in a research note on Friday, May 1st. Two analysts have rated the stock with a sell rating, eleven have assigned a hold rating and three have issued a buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and an average price target of $15.53.

Shares of NYSE OLN traded down $0.01 during midday trading on Friday, reaching $11.11. 1,509,531 shares of the stock were exchanged, compared to its average volume of 2,948,760. The company has a 50 day simple moving average of $12.95 and a 200 day simple moving average of $15.41. The stock has a market capitalization of $1.76 billion, a P/E ratio of -13.07 and a beta of 1.46. The company has a debt-to-equity ratio of 1.52, a quick ratio of 0.68 and a current ratio of 1.11. Olin has a twelve month low of $8.76 and a twelve month high of $22.91.

Olin (NYSE:OLN) last announced its quarterly earnings results on Wednesday, April 29th. The specialty chemicals company reported ($0.39) earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of ($0.27) by ($0.12). The firm had revenue of $1.43 billion for the quarter, compared to analyst estimates of $1.38 billion. Olin had a negative return on equity of 0.55% and a negative net margin of 2.22%. The firm’s quarterly revenue was down 8.3% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.25 EPS. On average, research analysts expect that Olin will post -1.29 earnings per share for the current year.

The business also recently announced a quarterly dividend, which will be paid on Wednesday, June 10th. Investors of record on Monday, May 11th will be issued a $0.20 dividend. The ex-dividend date of this dividend is Friday, May 8th. This represents a $0.80 annualized dividend and a yield of 7.20%. Olin’s dividend payout ratio (DPR) is presently 133.33%.

Institutional investors have recently bought and sold shares of the stock. Aigen Investment Management LP purchased a new stake in Olin in the fourth quarter valued at $90,000. Total Clarity Wealth Management Inc. acquired a new position in Olin in the fourth quarter valued at $90,000. Point72 Hong Kong Ltd acquired a new position in Olin in the fourth quarter valued at $94,000. CENTRAL TRUST Co increased its stake in shares of Olin by 91.9% during the first quarter. CENTRAL TRUST Co now owns 8,923 shares of the specialty chemicals company’s stock worth $104,000 after acquiring an additional 4,273 shares during the period. Finally, Chilton Investment Co. LLC acquired a new position in shares of Olin during the first quarter worth about $117,000. Hedge funds and other institutional investors own 88.57% of the company’s stock.

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, potassium hydroxide, chlorinated organics intermediates and solvents, and sodium hypochlorite.The Epoxy segment provides allyl chloride and epichlorohydrin, as well as acetone, bisphenol, cumene, and phenol for use in resins and other plastic materials, water purification, and pesticides, as well as for the manufacturers of polymers; liquid and solid epoxy resins that are used in adhesives, paints and coatings, composites, and flooring; and differentiated epoxy resins for use in electrical laminates, paints and coatings, wind blades, electronics, and construction, as well as offers additives.

Further Reading: Diversification Important in Investing

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