Zacks Investment Research upgraded shares of Olin (NYSE:OLN) from a strong sell rating to a hold rating in a research report sent to investors on Tuesday morning.
According to Zacks, “Olin Corporation is a leading vertically-integrated global manufacturer and distributor of chemical products and a leading U.S. manufacturer of ammunition. Olin are a manufacturer concentrated in three business 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. The Epoxy segment produces and sells a full range of epoxy materials, including allyl chloride, epichlorohydrin, liquid epoxy resins and downstream products such as converted epoxy resins and additives. The Winchester segment produces and sells sporting ammunition, reloading components, small caliber military ammunition and components, and industrial cartridges. “
OLN has been the subject of a number of other reports. Royal Bank of Canada reissued a buy rating and set a $37.00 price target on shares of Olin in a research note on Tuesday. JPMorgan Chase assumed coverage on shares of Olin in a research note on Friday, March 9th. They set an overweight rating and a $36.00 price target for the company. Morgan Stanley assumed coverage on shares of Olin in a research note on Tuesday, January 9th. They set an overweight rating and a $45.00 price target for the company. SunTrust Banks reissued a buy rating on shares of Olin in a research note on Tuesday, February 13th. Finally, ValuEngine downgraded shares of Olin from a hold rating to a sell rating in a research note on Monday, April 2nd. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating and nine have issued a buy rating to the company’s stock. The company has a consensus rating of Buy and an average price target of $38.36.
Shares of NYSE OLN opened at $29.52 on Tuesday. The company has a quick ratio of 1.07, a current ratio of 1.78 and a debt-to-equity ratio of 1.31. The stock has a market capitalization of $5,143.69, a price-to-earnings ratio of 36.44, a P/E/G ratio of 1.06 and a beta of 1.43. Olin has a 1-year low of $27.79 and a 1-year high of $38.84.
Olin (NYSE:OLN) last posted its quarterly earnings results on Tuesday, February 6th. The specialty chemicals company reported $2.89 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.44 by $2.45. The business had revenue of $1.62 billion during the quarter, compared to the consensus estimate 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% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.11 earnings per share. equities research analysts anticipate that Olin will post 2.02 earnings per share for the current year.
In related news, insider Stephen C. Curley sold 6,250 shares of the business’s stock in a transaction that occurred on Thursday, March 1st. The shares were sold at an average price of $33.00, for a total transaction of $206,250.00. Following the completion of the transaction, the insider now owns 25,837 shares in the company, valued at $852,621. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director Donald W. Bogus acquired 6,000 shares of the firm’s stock in a transaction that occurred on Friday, February 16th. The shares were purchased at an average price of $33.07 per share, with a total value of $198,420.00. Following the acquisition, the director now owns 83,118 shares of the company’s stock, valued at approximately $2,748,712.26. The disclosure for this purchase can be found here. 1.70% of the stock is currently owned by insiders.
A number of hedge funds and other institutional investors have recently modified their holdings of the stock. Cambridge Investment Research Advisors Inc. acquired a new position in Olin during the fourth quarter valued at approximately $201,000. Her Majesty the Queen in Right of the Province of Alberta as represented by Alberta Investment Management Corp acquired a new position in Olin during the fourth quarter valued at approximately $413,000. MetLife Investment Advisors LLC acquired a new position in Olin during the fourth quarter valued at approximately $3,743,000. Gotham Asset Management LLC grew its holdings in Olin by 24.7% during the fourth quarter. Gotham Asset Management LLC now owns 11,552 shares of the specialty chemicals company’s stock valued at $411,000 after purchasing an additional 2,286 shares during the period. Finally, Castleark Management LLC acquired a new position in Olin during the fourth quarter valued at approximately $4,233,000. Hedge funds and other institutional investors own 89.08% of the company’s stock.
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Olin Company Profile
Olin Corporation manufactures and distributes chemical products in the United States and internationally. It operates through three segments: Chlor Alkali Products and Vinyls; Epoxy; and Winchester. The Chlor Alkali Products and Vinyls segment offers chlorine and caustic soda, ethylene dichloride and vinyl chloride monomers, methyl chloride, methylene chloride, chloroform, carbon tetrachloride, perchloroethylene, trichloroethylene and vinylidene chloride, hydrochloric acid, hydrogen, bleach products, and potassium hydroxide.
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