Shares of Olin Co. (NYSE:OLN) have received an average rating of “Hold” from the twelve ratings firms that are currently covering the company, Marketbeat.com reports. One equities research analyst has rated the stock with a sell rating, four have given a hold rating and six have assigned a buy rating to the company. The average twelve-month price target among analysts that have updated their coverage on the stock in the last year is $36.47.
OLN has been the topic of a number of research analyst reports. ValuEngine raised Olin from a “sell” rating to a “hold” rating in a research note on Tuesday, March 13th. Citigroup lowered their price target on Olin from $40.00 to $38.00 and set a “buy” rating on the stock in a research note on Tuesday, April 10th. Zacks Investment Research raised Olin from a “strong sell” rating to a “hold” rating in a research note on Tuesday, April 17th. TheStreet lowered Olin from a “b” rating to a “c+” rating in a research note on Tuesday, May 1st. Finally, Nomura lowered Olin from a “buy” rating to a “neutral” rating and lowered their price target for the stock from $40.00 to $35.00 in a research note on Friday, April 20th.
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the business. BlackRock Inc. raised its position in Olin by 10.5% in the first quarter. BlackRock Inc. now owns 18,442,401 shares of the specialty chemicals company’s stock valued at $560,465,000 after purchasing an additional 1,753,276 shares during the period. Macquarie Group Ltd. raised its position in Olin by 0.6% in the fourth quarter. Macquarie Group Ltd. now owns 3,300,787 shares of the specialty chemicals company’s stock valued at $117,442,000 after purchasing an additional 18,904 shares during the period. Luminus Management LLC raised its position in Olin by 154.3% in the fourth quarter. Luminus Management LLC now owns 1,682,824 shares of the specialty chemicals company’s stock valued at $59,875,000 after purchasing an additional 1,020,982 shares during the period. Geode Capital Management LLC raised its position in Olin by 2.3% in the fourth quarter. Geode Capital Management LLC now owns 1,399,343 shares of the specialty chemicals company’s stock valued at $49,788,000 after purchasing an additional 31,807 shares during the period. Finally, Prudential Financial Inc. raised its position in Olin by 4.4% in the first quarter. Prudential Financial Inc. now owns 1,313,463 shares of the specialty chemicals company’s stock valued at $39,916,000 after purchasing an additional 54,770 shares during the period. 85.69% of the stock is currently owned by institutional investors.
Shares of NYSE:OLN traded up $0.36 during trading on Friday, reaching $28.72. The stock had a trading volume of 2,630,321 shares, compared to its average volume of 2,097,555. The company has a debt-to-equity ratio of 1.28, a current ratio of 1.75 and a quick ratio of 1.05. The firm has a market capitalization of $4.73 billion, a PE ratio of 35.46, a P/E/G ratio of 0.74 and a beta of 1.45. Olin has a 1-year low of $27.68 and a 1-year high of $38.84.
Olin (NYSE:OLN) last issued its quarterly earnings results on Tuesday, May 1st. The specialty chemicals company reported $0.15 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.18 by ($0.03). The firm had revenue of $1.71 billion during the quarter, compared to analyst estimates of $1.60 billion. Olin had a return on equity of 5.81% and a net margin of 8.69%. analysts expect that Olin will post 1.97 earnings per share for the current year.
The business also recently disclosed a quarterly dividend, which was paid on Monday, June 11th. Shareholders of record on Thursday, May 10th were paid a dividend of $0.20 per share. This represents a $0.80 dividend on an annualized basis and a yield of 2.79%. The ex-dividend date of this dividend was Wednesday, May 9th. Olin’s dividend payout ratio (DPR) is currently 98.77%.
Olin declared that its board has authorized a share buyback program on Tuesday, May 1st that authorizes the company to buyback $500.00 million in outstanding shares. This buyback authorization authorizes the specialty chemicals company to reacquire up to 9.9% of its shares through open market purchases. Shares buyback programs are usually a sign that the company’s board believes its stock is undervalued.
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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