Olin (OLN) Bonds Drop 1.1% During Trading

An issue of Olin Co. (NYSE:OLN) bonds fell 1.1% as a percentage of their face value during trading on Tuesday. The debt issue has a 5.125% coupon and is set to mature on September 15, 2027. The bonds in the issue are now trading at $99.38 and were trading at $100.50 one week ago. Price moves in a company’s bonds in credit markets often predict parallel moves in its share price.

A number of research analysts recently commented on OLN shares. Royal Bank of Canada reissued a “buy” rating and issued a $42.00 price target on shares of Olin in a report on Thursday, December 14th. Morgan Stanley started coverage on Olin in a report on Tuesday, January 9th. They issued an “overweight” rating and a $45.00 price target on the stock. Vertical Research raised Olin from a “hold” rating to a “buy” rating in a report on Wednesday, January 3rd. Zacks Investment Research raised Olin from a “hold” rating to a “buy” rating and set a $42.00 price target on the stock in a report on Friday, January 12th. Finally, TheStreet raised Olin from a “c+” rating to a “b” rating in a report on Tuesday, October 31st. Three investment analysts have rated the stock with a hold rating and nine have given a buy rating to the company’s stock. The company currently has a consensus rating of “Buy” and a consensus price target of $39.80.

Olin Co. (OLN) opened at $33.22 on Thursday. The company has a quick ratio of 1.07, a current ratio of 1.78 and a debt-to-equity ratio of 1.31. Olin Co. has a twelve month low of $27.79 and a twelve month high of $38.84. The company has a market capitalization of $5,522.65, a P/E ratio of 38.88, a P/E/G ratio of 1.13 and a beta of 1.36.

Olin (NYSE:OLN) last posted its quarterly earnings results on Tuesday, February 6th. The specialty chemicals company reported $2.89 EPS for the quarter, topping the Zacks’ consensus estimate of $0.44 by $2.45. Olin had a return on equity of 6.02% and a net margin of 8.77%. The company had revenue of $1.62 billion for the quarter, compared to analysts’ expectations of $1.53 billion. During the same period in the previous year, the firm earned $0.11 EPS. The firm’s revenue was up 16.9% compared to the same quarter last year. analysts anticipate that Olin Co. will post 2.12 earnings per share for the current year.

The company also recently disclosed a quarterly dividend, which will be paid on Friday, March 9th. Shareholders of record on Friday, February 9th will be paid a $0.20 dividend. This represents a $0.80 dividend on an annualized basis and a yield of 2.41%. The ex-dividend date of this dividend is Thursday, February 8th. Olin’s payout ratio is 24.69%.

In other news, Director Randall W. Larrimore acquired 800 shares of Olin stock in a transaction on Monday, February 12th. The shares were acquired at an average price of $31.28 per share, with a total value of $25,024.00. Following the purchase, the director now directly owns 6,500 shares in the company, valued at approximately $203,320. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, Director Donald W. Bogus acquired 6,000 shares of Olin stock in a transaction on Friday, February 16th. The stock was purchased at an average cost of $33.07 per share, for a total transaction of $198,420.00. Following the purchase, the director now owns 83,118 shares in the company, valued at $2,748,712.26. The disclosure for this purchase can be found here. Insiders own 2.90% of the company’s stock.

Large investors have recently added to or reduced their stakes in the business. Monarch Partners Asset Management LLC bought a new stake in Olin in the 3rd quarter worth approximately $10,421,000. Boston Partners increased its stake in Olin by 2.2% in the 3rd quarter. Boston Partners now owns 646,387 shares of the specialty chemicals company’s stock worth $22,139,000 after acquiring an additional 14,197 shares during the last quarter. Principal Financial Group Inc. increased its stake in Olin by 8.4% in the 3rd quarter. Principal Financial Group Inc. now owns 1,060,870 shares of the specialty chemicals company’s stock worth $36,335,000 after acquiring an additional 82,355 shares during the last quarter. Shell Asset Management Co. bought a new stake in Olin in the 3rd quarter worth approximately $1,793,000. Finally, California Public Employees Retirement System increased its stake in Olin by 3.5% in the 3rd quarter. California Public Employees Retirement System now owns 327,379 shares of the specialty chemicals company’s stock worth $11,213,000 after acquiring an additional 11,042 shares during the last quarter. 88.31% of the stock is currently owned by institutional investors and hedge funds.

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Olin 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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