Olin (NYSE:OLN) Sets New 1-Year High on Analyst Upgrade


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Olin Co. (NYSE:OLN) hit a new 52-week high on Tuesday after Morgan Stanley raised their price target on the stock from $40.00 to $46.00. Morgan Stanley currently has an equal weight rating on the stock. Olin traded as high as $45.74 and last traded at $45.62, with a volume of 1299516 shares changing hands. The stock had previously closed at $44.75.

A number of other equities analysts have also recently weighed in on OLN. KeyCorp raised their price objective on Olin from $50.00 to $53.00 and gave the company an “overweight” rating in a report on Thursday, April 29th. Wells Fargo & Company raised their price objective on Olin from $50.00 to $55.00 and gave the company an “overweight” rating in a report on Thursday, April 29th. Citigroup Inc. 3% Minimum Coupon Principal Protected Based Upon Russell raised Olin from a “neutral” rating to a “buy” rating in a research note on Thursday, April 15th. Royal Bank of Canada lifted their price target on Olin from $56.00 to $63.00 and gave the stock an “outperform” rating in a research note on Thursday, April 29th. Finally, Alembic Global Advisors lifted their price target on Olin from $37.00 to $55.00 in a research note on Monday, March 29th. One equities research analyst has rated the stock with a sell rating, four have given a hold rating and nine have assigned a buy rating to the company’s stock. The company has a consensus rating of “Buy” and an average target price of $41.14.

Several institutional investors and hedge funds have recently bought and sold shares of the company. Envestnet Asset Management Inc. increased its stake in shares of Olin by 27.6% during the first quarter. Envestnet Asset Management Inc. now owns 28,811 shares of the specialty chemicals company’s stock valued at $1,094,000 after buying an additional 6,226 shares during the period. Commonwealth Equity Services LLC boosted its position in shares of Olin by 1.8% during the first quarter. Commonwealth Equity Services LLC now owns 27,549 shares of the specialty chemicals company’s stock valued at $1,046,000 after purchasing an additional 481 shares in the last quarter. Victory Capital Management Inc. boosted its position in shares of Olin by 35.2% during the first quarter. Victory Capital Management Inc. now owns 1,321,274 shares of the specialty chemicals company’s stock valued at $50,169,000 after purchasing an additional 343,716 shares in the last quarter. Symmetry Partners LLC bought a new stake in shares of Olin during the first quarter valued at approximately $263,000. Finally, MorganRosel Wealth Management LLC bought a new stake in shares of Olin during the first quarter valued at approximately $1,078,000. 84.70% of the stock is currently owned by hedge funds and other institutional investors.

The company has a quick ratio of 1.02, a current ratio of 1.60 and a debt-to-equity ratio of 2.70. The company has a market capitalization of $7.26 billion, a P/E ratio of -7.09, a price-to-earnings-growth ratio of 1.19 and a beta of 1.22. The company has a 50-day moving average of $39.64 and a two-hundred day moving average of $28.46.

Olin (NYSE:OLN) last released its quarterly earnings results on Monday, April 26th. The specialty chemicals company reported $1.54 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $1.34 by $0.20. Olin had a negative return on equity of 9.98% and a negative net margin of 18.47%. As a group, equities analysts expect that Olin Co. will post -2.47 EPS for the current fiscal year.

The business also recently announced a quarterly dividend, which will be paid on Thursday, June 10th. Shareholders of record on Monday, May 10th will be issued a $0.20 dividend. This represents a $0.80 annualized dividend and a yield of 1.75%. The ex-dividend date is Friday, May 7th. Olin’s dividend payout ratio (DPR) is 133.33%.

About Olin (NYSE:OLN)

Olin Corporation manufactures and distributes chemical products in the United States, Europe, 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, hydrochloric acid, hydrogen, bleach products, potassium hydroxide, chlorinated organics intermediates and solvents, and sodium hypochlorite.

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