Olin Corporation (NYSE:OLN) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a research report issued on Tuesday, October 17th.
According to Zacks, “Olin Corporation is a manufacturer concentrated in chemicals, metals and ammunition. The chemicals segment is divided into divisions: Chlor-Alkali, Chemicals and Microelectronic Materials. Chlor-alkali includes chlor-alkali products, sodium hydrosulfite and high strength bleach products. Chemicals includes pool chemicals, biocides, hydrazine, polyols, propylene glycols and surfactants and fluids. Microelectronic Materials includes image-forming and electronic interconnect materials and services. The metals and ammunition segment produces copper alloy sheet, strip, rod, wire, and ammunition. “
Several other research analysts have also issued reports on OLN. Cowen and Company reaffirmed an “outperform” rating and set a $39.00 target price (up from $37.00) on shares of Olin Corporation in a research report on Thursday, June 22nd. BidaskClub raised Olin Corporation from a “sell” rating to a “hold” rating in a research report on Wednesday, June 21st. SunTrust Banks, Inc. reissued a “buy” rating and issued a $44.00 price objective (up from $36.00) on shares of Olin Corporation in a research report on Monday, October 2nd. Citigroup Inc. initiated coverage on Olin Corporation in a research report on Wednesday, September 27th. They issued a “buy” rating and a $39.00 price objective for the company. Finally, Royal Bank Of Canada restated a “buy” rating and issued a $35.00 target price on shares of Olin Corporation in a research note on Tuesday, June 20th. Five equities research analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. The stock presently has an average rating of “Buy” and an average price target of $37.13.
Olin Corporation (OLN) traded up $0.42 during trading hours on Tuesday, reaching $35.89. The company’s stock had a trading volume of 862,754 shares, compared to its average volume of 1,801,294. The company has a quick ratio of 1.03, a current ratio of 1.72 and a debt-to-equity ratio of 1.59. The stock has a market cap of $5,903.87, a P/E ratio of 43.79, a price-to-earnings-growth ratio of 4.06 and a beta of 1.41.
Olin Corporation (NYSE:OLN) last issued its earnings results on Monday, October 30th. The specialty chemicals company reported $0.31 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.35 by ($0.04). Olin Corporation had a net margin of 1.29% and a return on equity of 6.05%. The business had revenue of $1.55 billion during the quarter, compared to analyst estimates of $1.58 billion. During the same period in the prior year, the business posted $0.11 EPS. The company’s revenue for the quarter was up 7.0% compared to the same quarter last year. equities analysts anticipate that Olin Corporation will post 0.9 earnings per share for the current year.
In other Olin Corporation news, VP Stephen C. Curley sold 5,000 shares of the business’s stock in a transaction on Tuesday, August 15th. The shares were sold at an average price of $30.34, for a total transaction of $151,700.00. Following the sale, the vice president now owns 23,837 shares of the company’s stock, valued at approximately $723,214.58. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, VP Dolores J. Ennico sold 15,000 shares of the business’s stock in a transaction on Wednesday, November 1st. The shares were sold at an average price of $36.80, for a total transaction of $552,000.00. The disclosure for this sale can be found here. Insiders sold a total of 57,583 shares of company stock worth $2,086,754 in the last ninety days. 2.90% of the stock is currently owned by insiders.
A number of large investors have recently made changes to their positions in OLN. OLD Mutual Customised Solutions Proprietary Ltd. purchased a new position in Olin Corporation in the first quarter worth $118,000. Acrospire Investment Management LLC grew its position in Olin Corporation by 238.5% in the second quarter. Acrospire Investment Management LLC now owns 4,400 shares of the specialty chemicals company’s stock worth $133,000 after acquiring an additional 3,100 shares in the last quarter. Creative Planning grew its position in Olin Corporation by 130.8% in the second quarter. Creative Planning now owns 5,050 shares of the specialty chemicals company’s stock worth $153,000 after acquiring an additional 2,862 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank grew its position in Olin Corporation by 9.7% in the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 6,126 shares of the specialty chemicals company’s stock worth $185,000 after acquiring an additional 544 shares in the last quarter. Finally, Frontier Wealth Management LLC purchased a new position in Olin Corporation in the second quarter worth $200,000. Institutional investors own 92.88% of the company’s stock.
About Olin Corporation
Olin Corporation is a manufacturer and distributor of chemical products, and ammunition. The Company operates through three segments: Chlor Alkali Products and Vinyls, Epoxy and Winchester. The Chlor Alkali Products and Vinyls segment manufactures and sells chlorine and caustic soda, ethylene dichloride and vinyl chloride monomer, methyl chloride, methylene chloride, chloroform, carbon tetrachloride, perchloroethylene, trichloroethylene and vinylidene chloride, hydrochloric acid, hydrogen, bleach products and potassium hydroxide.
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