Olin (NYSE:OLN) Stock Rating Raised to “Hold” at Wall Street Zen

Wall Street Zen upgraded shares of Olin (NYSE:OLN) from a sell rating to a hold rating in a report released on Sunday morning,Wall Street Zen reports.

Other equities research analysts also recently issued reports about the company. Citigroup upped their price objective on Olin from $17.00 to $19.00 and gave the company a “neutral” rating in a research report on Monday, November 2nd. Royal Bank Of Canada lifted their target price on Olin from $16.00 to $19.00 and gave the stock a “sector perform” rating in a report on Monday, November 2nd. Wells Fargo & Company boosted their target price on Olin from $16.00 to $17.00 and gave the company an “equal weight” rating in a research report on Tuesday, November 3rd. Truist Financial boosted their target price on Olin from $15.00 to $17.00 and gave the company a “hold” rating in a research report on Monday, November 2nd. Finally, The Goldman Sachs Group set a $18.00 price target on Olin in a report on Wednesday, September 30th. One equities research analyst has rated the stock with a Buy rating, twelve have given a Hold rating and three have issued a Sell rating to the company’s stock. According to data from MarketBeat, Olin has a consensus rating of “Reduce” and a consensus price target of $20.64.

Olin Stock Down 0.0%

Shares of NYSE OLN opened at $17.31 on Friday. The firm’s 50-day moving average price is $16.46 and its 200-day moving average price is $22.14. The company has a current ratio of 1.45, a quick ratio of 0.88 and a debt-to-equity ratio of 1.75. The stock has a market capitalization of $1.97 billion, a price-to-earnings ratio of -11.77 and a beta of 1.14. Olin has a 12-month low of $14.64 and a 12-month high of $30.46.

Olin (NYSE:OLN) last announced its quarterly earnings results on Thursday, October 29th. The specialty chemicals company reported $0.13 EPS for the quarter, missing analysts’ consensus estimates of $0.15 by ($0.02). The business had revenue of $1.75 billion during the quarter, compared to the consensus estimate of $1.83 billion. Olin had a negative net margin of 2.49% and a negative return on equity of 6.63%. The firm’s revenue was up 2.0% on a year-over-year basis. During the same period in the previous year, the business posted $0.37 EPS. On average, equities research analysts anticipate that Olin will post -0.83 EPS for the current fiscal year.

Olin Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, September 11th. Shareholders of record on Thursday, August 27th were paid a $0.20 dividend. The ex-dividend date of this dividend was Thursday, August 27th. This represents a $0.80 annualized dividend and a yield of 4.6%. Olin’s dividend payout ratio (DPR) is presently -54.42%.

Institutional Investors Weigh In On Olin

Several hedge funds and other institutional investors have recently modified their holdings of the business. Rockefeller Capital Management L.P. boosted its stake in shares of Olin by 115.2% during the fourth quarter. Rockefeller Capital Management L.P. now owns 1,231 shares of the specialty chemicals company’s stock valued at $26,000 after purchasing an additional 659 shares during the period. Sunbelt Securities Inc. purchased a new position in Olin in the 1st quarter worth about $45,000. Nykredit A S purchased a new position in Olin in the 2nd quarter worth about $59,000. IFP Advisors Inc increased its stake in Olin by 118.9% in the 2nd quarter. IFP Advisors Inc now owns 3,163 shares of the specialty chemicals company’s stock worth $63,000 after buying an additional 1,718 shares during the period. Finally, CX Institutional bought a new stake in Olin during the 3rd quarter valued at about $76,000. 88.67% of the stock is currently owned by hedge funds and other institutional investors.

About Olin

Olin Corporation (NYSE: OLN) is a global manufacturer of chemicals and ammunition. The company operates through three primary businesses: Chlor Alkali Products and Vinyls, Epoxy, and Winchester.

Its Chlor Alkali Products and Vinyls business produces chlorine, caustic soda, hydrochloric acid, bleach products, hydrogen, chlorinated organic chemicals and other related materials used in industrial, water-treatment, construction and consumer applications. Olin’s Epoxy business manufactures epoxy resins, intermediates and other specialty materials used in coatings, adhesives, composites, electronics and infrastructure-related applications.

Through its Winchester business, Olin produces and distributes sporting ammunition, reloading components, and small-caliber ammunition for law enforcement and military customers.