Olin (NYSE:OLN) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a research report issued to clients and investors on Wednesday.
According to Zacks, “Olin Corporation is a manufacturer concentrated in three business segments: Chlor Alkali Products, Chemical Distribution and Winchester. Chlor Alkali Products, with eight U.S. manufacturing facilities and one Canadian manufacturing facility, produces chlorine and caustic soda, hydrochloric acid, hydrogen, bleach products and potassium hydroxide. Chemical Distribution manufactures bleach products and distributes caustic soda, bleach products, potassium hydroxide and hydrochloric acid. Winchester, with its principal manufacturing facilities in East Alton, IL and Oxford, MS, produces and distributes sporting ammunition, law enforcement ammunition, reloading components, small caliber military ammunition and components, and industrial cartridges. The company markets its products through its sales force, as well as directly to various industrial customers, mass merchants, retailers, wholesalers, other distributors, and the U.S. Government and its prime contractors. “
Other equities analysts also recently issued research reports about the company. TheStreet upgraded Olin from a “c+” rating to a “b” rating in a research report on Tuesday, October 31st. Vertical Research upgraded Olin from a “hold” rating to a “buy” rating in a research report on Wednesday, January 3rd. Royal Bank of Canada reiterated a “buy” rating and issued a $42.00 price objective on shares of Olin in a research report on Thursday, December 14th. SunTrust Banks reissued a “buy” rating and issued a $46.00 target price on shares of Olin in a research note on Monday, November 6th. Finally, Citigroup initiated coverage on Olin in a research note on Wednesday, September 27th. They issued a “buy” rating and a $39.00 target price for the company. Five analysts have rated the stock with a hold rating and eight have given a buy rating to the company’s stock. The stock currently has an average rating of “Buy” and an average target price of $39.10.
Olin (NYSE OLN) opened at $37.75 on Wednesday. The company has a debt-to-equity ratio of 1.59, a current ratio of 1.72 and a quick ratio of 1.03. Olin has a 52-week low of $25.60 and a 52-week high of $38.84. The stock has a market capitalization of $6,336.63, a price-to-earnings ratio of 83.89, a price-to-earnings-growth ratio of 1.14 and a beta of 1.39.
Olin (NYSE:OLN) last issued its quarterly earnings data on Monday, October 30th. The specialty chemicals company reported $0.31 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.35 by ($0.04). Olin 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 the consensus estimate of $1.58 billion. During the same quarter in the previous year, the firm posted $0.11 EPS. The company’s revenue for the quarter was up 7.0% compared to the same quarter last year. equities research analysts expect that Olin will post 0.93 earnings per share for the current year.
In other news, EVP John L. Mcintosh sold 9,500 shares of Olin stock in a transaction on Wednesday, November 15th. The stock was sold at an average price of $35.42, for a total value of $336,490.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Chairman John E. Fischer sold 37,583 shares of Olin stock in a transaction on Wednesday, November 1st. The shares were sold at an average price of $36.80, for a total value of $1,383,054.40. The disclosure for this sale can be found here. Insiders sold a total of 75,083 shares of company stock valued at $2,741,284 over the last three months. Insiders own 2.90% of the company’s stock.
Several institutional investors have recently made changes to their positions in OLN. Riverhead Capital Management LLC grew its stake in shares of Olin by 65.8% during the second quarter. Riverhead Capital Management LLC now owns 15,421 shares of the specialty chemicals company’s stock worth $467,000 after purchasing an additional 6,121 shares during the period. Amalgamated Bank grew its stake in shares of Olin by 45.1% during the second quarter. Amalgamated Bank now owns 31,436 shares of the specialty chemicals company’s stock worth $952,000 after purchasing an additional 9,767 shares during the period. PNC Financial Services Group Inc. grew its stake in shares of Olin by 2.1% during the second quarter. PNC Financial Services Group Inc. now owns 61,507 shares of the specialty chemicals company’s stock worth $1,863,000 after purchasing an additional 1,242 shares during the period. Thrivent Financial For Lutherans grew its stake in shares of Olin by 300.6% during the second quarter. Thrivent Financial For Lutherans now owns 124,080 shares of the specialty chemicals company’s stock worth $3,757,000 after purchasing an additional 93,110 shares during the period. Finally, Columbia Partners L L C Investment Management acquired a new stake in shares of Olin during the second quarter worth $1,564,000. 89.68% of the stock is owned by institutional investors and hedge funds.
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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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