Cowen and Company reaffirmed their outperform rating on shares of Olin Corporation (NYSE:OLN) in a research note published on Tuesday morning. They currently have a $42.00 price target on the specialty chemicals company’s stock, up from their previous price target of $39.00.
Several other equities analysts have also weighed in on OLN. UBS AG reissued a neutral rating and issued a $30.00 price objective (down from $33.00) on shares of Olin Corporation in a research report on Sunday, June 25th. BidaskClub raised shares of Olin Corporation from a sell rating to a hold rating in a research report on Wednesday, August 16th. SunTrust Banks, Inc. reaffirmed a buy rating and set a $44.00 price target (up from $36.00) on shares of Olin Corporation in a research report on Monday, October 2nd. Zacks Investment Research lowered shares of Olin Corporation from a hold rating to a strong sell rating in a research report on Wednesday, October 4th. Finally, Royal Bank Of Canada reaffirmed a buy rating and set a $35.00 price target on shares of Olin Corporation in a research report on Tuesday, June 20th. One investment analyst has rated the stock with a sell rating, four have given a hold rating and six have assigned a buy rating to the stock. The stock presently has a consensus rating of Hold and an average target price of $36.88.
Olin Corporation (NYSE OLN) traded down 0.78% on Tuesday, hitting $35.77. 128,991 shares of the stock traded hands. The stock has a market cap of $5.95 billion, a price-to-earnings ratio of 137.58 and a beta of 1.42. The firm’s 50 day moving average is $32.97 and its 200 day moving average is $31.24. Olin Corporation has a 52 week low of $19.62 and a 52 week high of $36.84.
Olin Corporation (NYSE:OLN) last issued its quarterly earnings data on Monday, July 31st. The specialty chemicals company reported $0.01 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.16 by ($0.15). The company had revenue of $1.53 billion during the quarter, compared to the consensus estimate of $1.51 billion. Olin Corporation had a net margin of 0.72% and a return on equity of 5.80%. Olin Corporation’s revenue for the quarter was up 11.9% compared to the same quarter last year. During the same period in the previous year, the company earned $0.24 earnings per share. Equities analysts anticipate that Olin Corporation will post $1.07 earnings per share for the current year.
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The firm also recently declared a quarterly dividend, which was paid on Monday, September 11th. Investors of record on Thursday, August 10th were given a dividend of $0.20 per share. This represents a $0.80 dividend on an annualized basis and a yield of 2.22%. The ex-dividend date was Tuesday, August 8th. Olin Corporation’s dividend payout ratio is 320.00%.
In other Olin Corporation news, VP Stephen C. Curley sold 5,000 shares of the stock in a transaction dated Tuesday, August 15th. The shares were sold at an average price of $30.34, for a total transaction of $151,700.00. Following the sale, the vice president now directly owns 23,837 shares in the company, valued at $723,214.58. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, EVP John L. Mcintosh sold 24,000 shares of the stock in a transaction dated Thursday, August 3rd. The stock was sold at an average price of $31.54, for a total transaction of $756,960.00. Following the sale, the executive vice president now owns 84,391 shares in the company, valued at $2,661,692.14. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 45,070 shares of company stock worth $1,407,151. 2.90% of the stock is owned by insiders.
Institutional investors have recently made changes to their positions in the business. OLD Mutual Customised Solutions Proprietary Ltd. acquired a new stake in Olin Corporation during the first quarter worth about $118,000. Acrospire Investment Management LLC grew its stake in Olin Corporation by 238.5% during the second quarter. Acrospire Investment Management LLC now owns 4,400 shares of the specialty chemicals company’s stock worth $133,000 after buying an additional 3,100 shares in the last quarter. Creative Planning grew its stake in Olin Corporation by 130.8% during the second quarter. Creative Planning now owns 5,050 shares of the specialty chemicals company’s stock worth $153,000 after buying an additional 2,862 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank grew its stake in Olin Corporation by 9.7% during the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 6,126 shares of the specialty chemicals company’s stock worth $185,000 after buying an additional 544 shares in the last quarter. Finally, Frontier Wealth Management LLC acquired a new stake in Olin Corporation during the second quarter worth about $200,000. Hedge funds and other institutional investors own 92.62% of the company’s stock.
About Olin Corporation
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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