Stifel Nicolaus assumed coverage on shares of Olin (NYSE:OLN) in a research note released on Monday, MarketBeat.com reports. The firm issued a buy rating and a $33.00 price objective on the specialty chemicals company’s stock.
Other equities research analysts also recently issued reports about the company. Morgan Stanley set a $38.00 price objective on Olin and gave the stock a buy rating in a research note on Wednesday, September 26th. Standpoint Research initiated coverage on Olin in a research note on Tuesday, August 28th. They issued a buy rating and a $20.00 price objective for the company. Citigroup reduced their price objective on Olin from $33.00 to $26.00 and set a buy rating for the company in a research note on Thursday, November 1st. TheStreet downgraded Olin from a b- rating to a c+ rating in a research note on Monday, November 12th. Finally, Barclays initiated coverage on Olin in a research note on Monday, October 8th. They issued an equal weight rating and a $29.00 price objective for the company. Two analysts have rated the stock with a sell rating, four have assigned a hold rating and eight have issued a buy rating to the company. Olin has a consensus rating of Hold and a consensus target price of $32.00.
NYSE:OLN opened at $20.96 on Monday. The company has a debt-to-equity ratio of 1.14, a current ratio of 1.81 and a quick ratio of 1.13. Olin has a 1-year low of $18.49 and a 1-year high of $38.84. The firm has a market capitalization of $3.50 billion, a P/E ratio of 25.88, a P/E/G ratio of 0.33 and a beta of 1.73.
Olin (NYSE:OLN) last released its quarterly earnings results on Monday, October 29th. The specialty chemicals company reported $0.66 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.75 by ($0.09). The company had revenue of $1.87 billion during the quarter, compared to analyst estimates of $1.80 billion. Olin had a net margin of 11.02% and a return on equity of 10.70%. The company’s revenue for the quarter was up 20.4% compared to the same quarter last year. During the same quarter last year, the business earned $0.31 EPS. Research analysts expect that Olin will post 1.91 EPS for the current fiscal year.
The company also recently declared a quarterly dividend, which was paid on Monday, December 10th. Stockholders of record on Friday, November 9th were paid a dividend of $0.20 per share. This represents a $0.80 dividend on an annualized basis and a dividend yield of 3.82%. The ex-dividend date of this dividend was Thursday, November 8th. Olin’s dividend payout ratio (DPR) is presently 98.77%.
In other news, SVP John Maurice Sampson purchased 5,000 shares of the business’s stock in a transaction dated Tuesday, November 20th. The stock was bought at an average cost of $19.84 per share, with a total value of $99,200.00. The acquisition was disclosed in a document filed with the SEC, which is available through this link. Also, Director Scott Mcdougald Sutton purchased 15,000 shares of the business’s stock in a transaction dated Thursday, November 1st. The shares were purchased at an average cost of $21.62 per share, with a total value of $324,300.00. Following the completion of the purchase, the director now directly owns 15,000 shares in the company, valued at $324,300. The disclosure for this purchase can be found here. Insiders have bought a total of 21,800 shares of company stock valued at $460,844 over the last ninety days. Company insiders own 1.70% of the company’s stock.
Institutional investors and hedge funds have recently bought and sold shares of the company. Marshall Wace LLP purchased a new stake in shares of Olin during the 2nd quarter worth about $7,135,000. Manning & Napier Group LLC raised its stake in shares of Olin by 13.5% during the 3rd quarter. Manning & Napier Group LLC now owns 920,304 shares of the specialty chemicals company’s stock worth $23,632,000 after purchasing an additional 109,292 shares in the last quarter. Schwab Charles Investment Management Inc. raised its stake in shares of Olin by 8.4% during the 2nd quarter. Schwab Charles Investment Management Inc. now owns 1,181,523 shares of the specialty chemicals company’s stock worth $33,934,000 after purchasing an additional 91,380 shares in the last quarter. Riverhead Capital Management LLC raised its stake in shares of Olin by 132.4% in the 2nd quarter. Riverhead Capital Management LLC now owns 170,324 shares of the specialty chemicals company’s stock valued at $4,892,000 after acquiring an additional 97,030 shares in the last quarter. Finally, Baird Financial Group Inc. bought a new position in shares of Olin in the 2nd quarter valued at approximately $204,000. 86.95% of the stock is owned by institutional investors.
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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