Olin Co. (NYSE:OLN) Given Consensus Recommendation of “Hold” by Brokerages

Olin Co. (NYSE:OLN) has received an average rating of “Hold” from the fifteen analysts that are presently covering the firm, MarketBeat reports. One investment analyst has rated the stock with a sell recommendation, eight have given a hold recommendation and six have assigned a buy recommendation to the company. The average 12 month price target among brokers that have issued a report on the stock in the last year is $52.40.

Several brokerages have issued reports on OLN. KeyCorp lowered their price objective on shares of Olin from $62.00 to $57.00 and set an “overweight” rating for the company in a research report on Monday, October 7th. JPMorgan Chase & Co. raised shares of Olin from a “neutral” rating to an “overweight” rating and set a $55.00 price objective for the company in a research report on Monday, July 29th. The Goldman Sachs Group lowered their price objective on shares of Olin from $55.00 to $49.00 and set a “neutral” rating for the company in a research report on Monday, July 29th. BMO Capital Markets assumed coverage on shares of Olin in a research report on Tuesday, September 3rd. They set a “market perform” rating and a $50.00 price target for the company. Finally, Bank of America downgraded shares of Olin from a “buy” rating to a “neutral” rating and decreased their price target for the stock from $62.00 to $51.00 in a research report on Monday, July 29th.

Institutional Investors Weigh In On Olin

A number of hedge funds have recently added to or reduced their stakes in the stock. Wedge Capital Management L L P NC lifted its stake in Olin by 36.6% in the third quarter. Wedge Capital Management L L P NC now owns 50,613 shares of the specialty chemicals company’s stock valued at $2,428,000 after buying an additional 13,557 shares during the last quarter. Merrion Investment Management Co LLC bought a new stake in Olin in the third quarter valued at $579,000. UMB Bank n.a. lifted its stake in Olin by 4,862.5% in the third quarter. UMB Bank n.a. now owns 1,588 shares of the specialty chemicals company’s stock valued at $76,000 after buying an additional 1,556 shares during the last quarter. CWM LLC raised its stake in shares of Olin by 18.0% during the third quarter. CWM LLC now owns 8,668 shares of the specialty chemicals company’s stock valued at $416,000 after purchasing an additional 1,324 shares in the last quarter. Finally, Sanctuary Advisors LLC bought a new stake in shares of Olin during the second quarter valued at about $2,486,000. 88.67% of the stock is currently owned by institutional investors.

Olin Trading Up 0.3 %

NYSE OLN opened at $47.53 on Tuesday. Olin has a one year low of $39.47 and a one year high of $60.60. The company’s 50 day moving average price is $43.99 and its 200 day moving average price is $48.90. The company has a debt-to-equity ratio of 1.29, a quick ratio of 0.82 and a current ratio of 1.43. The firm has a market capitalization of $5.68 billion, a price-to-earnings ratio of 17.10, a PEG ratio of 1.02 and a beta of 1.41.

Olin (NYSE:OLN) last posted its quarterly earnings results on Thursday, July 25th. The specialty chemicals company reported $0.62 EPS for the quarter, missing the consensus estimate of $0.70 by ($0.08). Olin had a net margin of 4.26% and a return on equity of 11.73%. The business had revenue of $1.64 billion during the quarter, compared to analysts’ expectations of $1.71 billion. During the same quarter in the previous year, the business posted $1.13 EPS. The company’s quarterly revenue was down 3.5% on a year-over-year basis. On average, sell-side analysts predict that Olin will post 1.61 EPS for the current year.

Olin Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, September 13th. Shareholders of record on Thursday, August 8th were paid a $0.20 dividend. This represents a $0.80 dividend on an annualized basis and a yield of 1.68%. The ex-dividend date was Thursday, August 8th. Olin’s payout ratio is 28.78%.

About Olin

Olin Corporation manufactures and distributes chemical products in the United States, Europe, Asia Pacific, Latin America, and Canada. 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, hydrochloric acid, hydrogen, bleach products, potassium hydroxide, and chlorinated organics intermediates and solvents.