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.
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 firms have also weighed in on OLN. BidaskClub raised Olin Corporation from a “sell” rating to a “hold” rating in a research note on Wednesday, June 21st. Cowen and Company reissued an “outperform” rating and issued a $42.00 target price (up previously from $39.00) on shares of Olin Corporation in a research note on Tuesday, October 10th. UBS AG reissued a “neutral” rating and issued a $30.00 target price (down previously from $33.00) on shares of Olin Corporation in a research note on Sunday, June 25th. Citigroup Inc. began coverage on Olin Corporation in a research note on Wednesday, September 27th. They issued a “buy” rating and a $39.00 target price on the stock. Finally, SunTrust Banks, Inc. reissued a “buy” rating and issued a $44.00 target price (up previously from $36.00) on shares of Olin Corporation in a research note on Monday, October 2nd. Five analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. Olin Corporation has a consensus rating of “Buy” and an average target price of $36.88.
Shares of Olin Corporation (OLN) opened at 35.46 on Tuesday. The company has a market capitalization of $5.90 billion, a PE ratio of 137.98 and a beta of 1.42. Olin Corporation has a 12 month low of $20.08 and a 12 month high of $36.84. The firm has a 50-day moving average of $33.53 and a 200 day moving average of $31.30.
Olin Corporation (NYSE:OLN) last posted its quarterly earnings results on Monday, July 31st. The specialty chemicals company reported $0.01 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.16 by ($0.15). The firm had revenue of $1.53 billion during the quarter, compared to the consensus estimate of $1.51 billion. Olin Corporation had a net margin of 0.72% and a return on equity of 5.80%. Olin Corporation’s revenue was up 11.9% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.24 EPS. On average, equities research analysts expect that Olin Corporation will post $1.04 earnings per share for the current fiscal year.
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In other news, EVP John L. Mcintosh sold 24,000 shares of the firm’s stock in a transaction dated Thursday, August 3rd. The stock was sold at an average price of $31.54, for a total transaction of $756,960.00. Following the sale, the executive vice president now owns 84,391 shares of the company’s stock, valued at $2,661,692.14. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, VP Stephen C. Curley sold 5,000 shares of the firm’s stock in a transaction dated Tuesday, August 15th. The stock was sold at an average price of $30.34, for a total value of $151,700.00. Following the sale, the vice president now directly owns 23,837 shares in the company, valued at approximately $723,214.58. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 45,070 shares of company stock worth $1,407,151. 2.90% of the stock is currently owned by insiders.
Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. OLD Mutual Customised Solutions Proprietary Ltd. acquired a new stake in shares of Olin Corporation during the first quarter worth about $118,000. Acrospire Investment Management LLC raised its position in shares of Olin Corporation by 238.5% during the second quarter. Acrospire Investment Management LLC now owns 4,400 shares of the specialty chemicals company’s stock worth $133,000 after purchasing an additional 3,100 shares during the period. Creative Planning raised its position in shares of Olin Corporation by 130.8% during the second quarter. Creative Planning now owns 5,050 shares of the specialty chemicals company’s stock worth $153,000 after purchasing an additional 2,862 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank raised its position in shares of Olin Corporation by 9.7% during the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 6,126 shares of the specialty chemicals company’s stock worth $185,000 after purchasing an additional 544 shares during the period. Finally, Frontier Wealth Management LLC acquired a new stake in shares of Olin Corporation during the second quarter worth about $200,000. 92.62% of the stock is currently owned by institutional investors.
Olin Corporation Company Profile
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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