Olin (NYSE:OLN) was downgraded by analysts at TheStreet from a “b-” rating to a “c+” rating in a report issued on Monday, November 12th.
Several other equities research analysts also recently issued reports on the company. Zacks Investment Research downgraded Olin from a “hold” rating to a “sell” rating in a research report on Tuesday, July 17th. Susquehanna Bancshares raised their price target on Olin from $37.00 to $40.00 and gave the company a “positive” rating in a research report on Thursday, August 2nd. Cowen lifted their target price on Olin from $41.00 to $42.00 and gave the stock an “outperform” rating in a research report on Monday, August 6th. Standpoint Research assumed coverage on Olin in a research report on Tuesday, August 28th. They set a “buy” rating and a $20.00 target price on the stock. Finally, ValuEngine downgraded Olin from a “sell” rating to a “strong sell” rating in a research report on Tuesday, September 18th. Two investment analysts have rated the stock with a sell rating, four have assigned a hold rating and seven have issued a buy rating to the company’s stock. The stock presently has an average rating of “Hold” and a consensus target price of $31.91.
Shares of NYSE:OLN traded up $0.18 during midday trading on Monday, hitting $20.18. 2,141,537 shares of the stock were exchanged, compared to its average volume of 1,913,953. The company has a current ratio of 1.81, a quick ratio of 1.13 and a debt-to-equity ratio of 1.14. Olin has a 52-week low of $18.49 and a 52-week high of $38.84. The firm has a market cap of $3.34 billion, a price-to-earnings ratio of 24.91, a P/E/G ratio of 0.31 and a beta of 1.73.
Olin (NYSE:OLN) last posted its earnings results on Monday, October 29th. The specialty chemicals company reported $0.66 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.75 by ($0.09). Olin had a net margin of 11.02% and a return on equity of 10.70%. The company had revenue of $1.87 billion for the quarter, compared to the consensus estimate of $1.80 billion. During the same quarter last year, the business earned $0.31 earnings per share. Olin’s quarterly revenue was up 20.4% on a year-over-year basis. On average, sell-side analysts forecast that Olin will post 1.91 EPS for the current year.
In other Olin news, Director Scott Mcdougald Sutton purchased 15,000 shares of the business’s stock in a transaction on Thursday, November 1st. The stock was purchased at an average price of $21.62 per share, for a total transaction 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 purchase was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, SVP John Maurice Sampson purchased 5,000 shares of the business’s stock in a transaction on Tuesday, November 20th. The shares were acquired at an average price of $19.84 per share, with a total value of $99,200.00. The disclosure for this purchase can be found here. In the last 90 days, insiders have acquired 21,800 shares of company stock valued at $460,844. Corporate insiders own 1.70% of the company’s stock.
Several large investors have recently bought and sold shares of OLN. Balter Liquid Alternatives LLC bought a new position in shares of Olin in the second quarter valued at approximately $154,000. Baird Financial Group Inc. bought a new position in shares of Olin in the second quarter valued at approximately $204,000. MML Investors Services LLC bought a new position in shares of Olin in the third quarter valued at approximately $210,000. Acadian Asset Management LLC bought a new position in shares of Olin in the third quarter valued at approximately $236,000. Finally, MAI Capital Management bought a new position in shares of Olin in the second quarter valued at approximately $240,000. Institutional investors own 86.95% of the company’s stock.
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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