Olin Co. (NYSE:OLN) has received a consensus rating of “Hold” from the eighteen ratings firms that are currently covering the firm, MarketBeat.com reports. Two analysts have rated the stock with a sell rating, eleven have assigned a hold rating and three have issued a buy rating on the company. The average 12-month price objective among brokerages that have updated their coverage on the stock in the last year is $15.53.
A number of analysts have commented on the company. ValuEngine cut Olin from a “strong-buy” rating to a “buy” rating in a research report on Thursday, April 2nd. Royal Bank of Canada cut Olin from a “sector perform” rating to an “underperform” rating and reduced their price target for the stock from $16.00 to $7.00 in a research report on Thursday, March 26th. UBS Group increased their target price on Olin from $12.00 to $16.00 and gave the stock a “neutral” rating in a research report on Thursday, April 30th. Susquehanna Bancshares cut their target price on Olin from $21.00 to $17.00 in a research report on Thursday, May 21st. Finally, Citigroup increased their target price on Olin from $10.00 to $13.00 and gave the stock a “neutral” rating in a research report on Thursday, April 9th.
Several large investors have recently bought and sold shares of the company. Sachem Head Capital Management LP bought a new stake in shares of Olin in the 1st quarter valued at approximately $174,467,000. State Street Corp lifted its holdings in shares of Olin by 15.0% in the 1st quarter. State Street Corp now owns 7,299,535 shares of the specialty chemicals company’s stock valued at $85,186,000 after buying an additional 950,507 shares during the period. Pzena Investment Management LLC increased its stake in shares of Olin by 43.9% in the 1st quarter. Pzena Investment Management LLC now owns 5,269,529 shares of the specialty chemicals company’s stock valued at $61,495,000 after purchasing an additional 1,606,409 shares in the last quarter. Macquarie Group Ltd. increased its stake in shares of Olin by 2.4% in the 4th quarter. Macquarie Group Ltd. now owns 3,806,592 shares of the specialty chemicals company’s stock valued at $65,664,000 after purchasing an additional 90,700 shares in the last quarter. Finally, Deprince Race & Zollo Inc. increased its stake in Olin by 13.9% during the 1st quarter. Deprince Race & Zollo Inc. now owns 2,963,677 shares of the specialty chemicals company’s stock worth $34,586,000 after buying an additional 362,438 shares in the last quarter. 92.81% of the stock is owned by institutional investors and hedge funds.
Olin (NYSE:OLN) last issued its quarterly earnings results on Wednesday, April 29th. The specialty chemicals company reported ($0.39) EPS for the quarter, missing analysts’ consensus estimates of ($0.27) by ($0.12). The company had revenue of $1.43 billion during the quarter, compared to analysts’ expectations of $1.38 billion. Olin had a negative return on equity of 0.55% and a negative net margin of 2.22%. The business’s quarterly revenue was down 8.3% compared to the same quarter last year. During the same quarter in the previous year, the company earned $0.25 EPS. Equities analysts anticipate that Olin will post -1.2 EPS for the current fiscal year.
The business also recently disclosed a quarterly dividend, which was paid on Wednesday, June 10th. Stockholders of record on Monday, May 11th were paid a $0.20 dividend. This represents a $0.80 annualized dividend and a dividend yield of 6.96%. The ex-dividend date was Friday, May 8th. Olin’s payout ratio is 133.33%.
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.
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