Olin Co. (NYSE:OLN) has earned a consensus recommendation of “Buy” from the thirteen ratings firms that are presently covering the company, Marketbeat.com reports. Three equities research analysts have rated the stock with a hold rating and nine have given a buy rating to the company. The average 1-year target price among brokerages that have issued ratings on the stock in the last year is $38.88.
A number of equities analysts have weighed in on the stock. Morgan Stanley set a $41.00 price target on shares of Olin and gave the company a “buy” rating in a report on Monday, February 12th. Nomura decreased their price target on shares of Olin from $43.00 to $40.00 and set a “buy” rating on the stock in a report on Thursday, February 8th. SunTrust Banks reiterated a “buy” rating and issued a $46.00 price target on shares of Olin in a report on Monday, November 6th. Zacks Investment Research lowered shares of Olin from a “buy” rating to a “hold” rating in a report on Friday, February 9th. Finally, Cowen reiterated a “buy” rating and issued a $41.00 price target on shares of Olin in a report on Friday, February 9th.
In other Olin news, Director Randall W. Larrimore bought 800 shares of the business’s stock in a transaction dated 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 owns 6,500 shares in the company, valued at approximately $203,320. The purchase was disclosed in a document filed with the SEC, which is available through this link. Also, Director Donald W. Bogus bought 6,000 shares of the business’s stock in a transaction dated Friday, February 16th. The stock was acquired 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 approximately $2,748,712.26. The disclosure for this purchase can be found here. Company insiders own 2.90% of the company’s stock.
Several hedge funds have recently modified their holdings of OLN. Public Employees Retirement System of Ohio raised its stake in shares of Olin by 766.4% in the 2nd quarter. Public Employees Retirement System of Ohio now owns 83,115 shares of the specialty chemicals company’s stock valued at $2,517,000 after acquiring an additional 73,522 shares during the period. Shell Asset Management Co. purchased a new position in shares of Olin in the 3rd quarter valued at $1,793,000. First Trust Advisors LP raised its stake in shares of Olin by 101.3% in the 3rd quarter. First Trust Advisors LP now owns 211,564 shares of the specialty chemicals company’s stock valued at $7,246,000 after acquiring an additional 106,444 shares during the period. Heartland Advisors Inc. purchased a new position in shares of Olin in the 3rd quarter valued at $217,000. Finally, Crossmark Global Holdings Inc. purchased a new position in shares of Olin in the 3rd quarter valued at $457,000. 88.31% of the stock is currently owned by institutional investors and hedge funds.
Shares of Olin (NYSE OLN) traded up $0.05 during midday trading on Friday, reaching $33.20. 926,032 shares of the company were exchanged, compared to its average volume of 2,410,000. Olin has a 1 year low of $27.79 and a 1 year high of $38.84. The firm has a market capitalization of $5,530.00, a price-to-earnings ratio of 50.30, a P/E/G ratio of 1.14 and a beta of 1.35. The company has a debt-to-equity ratio of 1.31, a quick ratio of 1.07 and a current ratio of 1.78.
Olin (NYSE:OLN) last announced its quarterly earnings results on Tuesday, February 6th. The specialty chemicals company reported $2.89 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.44 by $2.45. The company had revenue of $1.62 billion for the quarter, compared to analyst estimates of $1.53 billion. Olin had a net margin of 8.77% and a return on equity of 6.02%. Olin’s revenue for the quarter was up 16.9% on a year-over-year basis. During the same quarter last year, the business earned $0.11 EPS. analysts anticipate that Olin will post 2.12 EPS for the current fiscal year.
The firm also recently announced a quarterly dividend, which will be paid on Friday, March 9th. Stockholders 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 dividend yield of 2.41%. The ex-dividend date is Thursday, February 8th. Olin’s dividend payout ratio is presently 121.21%.
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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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