Olin (NYSE:OLN) Stock Price Up 9.1% – Should You Buy?

Olin Corporation (NYSE:OLN)’s share price was up 9.1% on Wednesday . The company traded as high as $25.18 and last traded at $25.02. Approximately 1,226,060 shares traded hands during mid-day trading, a decline of 64% from the average daily volume of 3,405,815 shares. The stock had previously closed at $22.93.

Analyst Upgrades and Downgrades

OLN has been the subject of several recent analyst reports. UBS Group set a $21.00 price target on Olin in a research note on Monday. Mizuho set a $22.00 price objective on Olin in a report on Friday, January 30th. Weiss Ratings reaffirmed a “sell (d+)” rating on shares of Olin in a research note on Thursday, January 22nd. Morgan Stanley dropped their price target on shares of Olin from $20.00 to $18.00 and set an “underweight” rating on the stock in a research note on Monday. Finally, BMO Capital Markets cut their price target on shares of Olin from $25.00 to $24.00 and set a “market perform” rating for the company in a report on Tuesday. One analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating, eleven have issued a Hold rating and three have given a Sell rating to the company. According to data from MarketBeat.com, Olin currently has a consensus rating of “Hold” and an average price target of $22.86.

Olin Stock Performance

The company has a market cap of $2.90 billion, a price-to-earnings ratio of -66.84, a PEG ratio of 3.28 and a beta of 1.64. The firm’s 50 day simple moving average is $21.82 and its 200-day simple moving average is $22.08. The company has a debt-to-equity ratio of 1.46, a quick ratio of 0.81 and a current ratio of 1.35.

Olin (NYSE:OLN) last posted its quarterly earnings results on Thursday, January 29th. The specialty chemicals company reported ($0.58) earnings per share for the quarter, hitting the consensus estimate of ($0.58). The firm had revenue of $1.67 billion for the quarter, compared to the consensus estimate of $1.61 billion. Olin had a negative net margin of 0.63% and a negative return on equity of 0.47%. The company’s revenue for the quarter was down .4% on a year-over-year basis. During the same period last year, the firm posted $0.09 earnings per share. On average, sell-side analysts predict that Olin Corporation will post 1.38 EPS for the current year.

Olin Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, December 12th. Stockholders of record on Friday, November 28th were given a $0.20 dividend. The ex-dividend date was Friday, November 28th. This represents a $0.80 dividend on an annualized basis and a dividend yield of 3.1%. Olin’s dividend payout ratio is -210.53%.

Insider Buying and Selling

In other Olin news, VP Teresa M. Vermillion sold 4,500 shares of the business’s stock in a transaction on Wednesday, November 26th. The stock was sold at an average price of $20.86, for a total transaction of $93,870.00. Following the transaction, the vice president owned 17,199 shares of the company’s stock, valued at approximately $358,771.14. The trade was a 20.74% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Insiders own 1.70% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of OLN. Strategic Advocates LLC purchased a new stake in shares of Olin in the 3rd quarter valued at approximately $25,000. Evelyn Partners Investment Management LLP raised its position in Olin by 6,360.0% in the 2nd quarter. Evelyn Partners Investment Management LLP now owns 1,615 shares of the specialty chemicals company’s stock valued at $32,000 after purchasing an additional 1,590 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. acquired a new stake in shares of Olin in the 1st quarter valued at $32,000. Bessemer Group Inc. increased its holdings in shares of Olin by 712.7% in the 3rd quarter. Bessemer Group Inc. now owns 1,341 shares of the specialty chemicals company’s stock valued at $34,000 after acquiring an additional 1,176 shares during the last quarter. Finally, Allworth Financial LP grew its position in shares of Olin by 114.0% in the 3rd quarter. Allworth Financial LP now owns 1,740 shares of the specialty chemicals company’s stock valued at $43,000 after buying an additional 927 shares during the last quarter. Hedge funds and other institutional investors own 88.67% of the company’s stock.

Olin Company Profile

Olin Corporation is a diversified manufacturer specializing in chemical products and ammunition. The company’s core business activities encompass the production and distribution of chlor-alkali products, epoxy resins and derivatives, and small-caliber ammunition under the Winchester brand. Olin’s chemical operations supply chlorine, caustic soda and related co-products to a wide range of end markets, including water treatment, pulp and paper, pharmaceuticals and general industrial applications.

In its Chlor Alkali Products & Vinyls segment, Olin operates multiple manufacturing facilities that produce chlorine and sodium hydroxide, along with vinyl chloride monomer and polyvinyl chloride (PVC) compounds.