Olin (NYSE:OLN) Releases Quarterly Earnings Results, Hits Expectations

Olin (NYSE:OLN) issued its quarterly earnings results on Thursday. The specialty chemicals company reported ($0.58) earnings per share for the quarter, meeting analysts’ consensus estimates of ($0.58), Zacks reports. Olin had a net margin of 0.79% and a return on equity of 3.36%. The business had revenue of $1.67 billion during the quarter, compared to analyst estimates of $1.61 billion. During the same quarter last year, the business posted $0.09 earnings per share. Olin’s revenue for the quarter was down .4% compared to the same quarter last year.

Olin Stock Down 1.6%

NYSE:OLN opened at $22.37 on Friday. Olin has a 1 year low of $17.66 and a 1 year high of $32.88. The stock has a 50-day moving average price of $21.70 and a two-hundred day moving average price of $22.04. The stock has a market cap of $2.55 billion, a price-to-earnings ratio of 48.64, a PEG ratio of 3.37 and a beta of 1.64. The company has a current ratio of 1.56, a quick ratio of 0.89 and a debt-to-equity ratio of 1.49.

Olin Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, December 12th. Shareholders of record on Friday, November 28th were paid a $0.20 dividend. This represents a $0.80 dividend on an annualized basis and a yield of 3.6%. The ex-dividend date of this dividend was Friday, November 28th. Olin’s payout ratio is presently 173.91%.

Insider Buying and Selling at Olin

In related news, VP Teresa M. Vermillion sold 4,500 shares of the business’s stock in a transaction that occurred on Wednesday, November 26th. The stock was sold at an average price of $20.86, for a total value of $93,870.00. Following the completion of the transaction, the vice president directly owned 17,199 shares in the company, valued at approximately $358,771.14. The trade was a 20.74% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. 1.60% of the stock is owned by company insiders.

Hedge Funds Weigh In On Olin

A number of large investors have recently modified their holdings of the business. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. bought a new position in Olin during the first quarter worth about $32,000. NewEdge Advisors LLC increased its holdings in shares of Olin by 45.0% during the third quarter. NewEdge Advisors LLC now owns 2,323 shares of the specialty chemicals company’s stock worth $58,000 after purchasing an additional 721 shares during the period. Headlands Technologies LLC raised its position in shares of Olin by 67.6% in the second quarter. Headlands Technologies LLC now owns 4,400 shares of the specialty chemicals company’s stock valued at $88,000 after buying an additional 1,775 shares in the last quarter. Tower Research Capital LLC TRC raised its position in shares of Olin by 20.5% in the second quarter. Tower Research Capital LLC TRC now owns 7,031 shares of the specialty chemicals company’s stock valued at $141,000 after buying an additional 1,195 shares in the last quarter. Finally, Northwestern Mutual Wealth Management Co. boosted its stake in shares of Olin by 17.0% in the second quarter. Northwestern Mutual Wealth Management Co. now owns 7,930 shares of the specialty chemicals company’s stock valued at $159,000 after buying an additional 1,152 shares during the period. 88.67% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of equities research analysts have recently weighed in on OLN shares. Royal Bank Of Canada boosted their target price on Olin from $22.00 to $24.00 and gave the stock a “sector perform” rating in a research report on Friday, January 16th. BMO Capital Markets set a $25.00 price objective on Olin in a report on Friday, January 9th. Bank of America raised their target price on shares of Olin from $25.00 to $30.00 and gave the company a “buy” rating in a research note on Tuesday, October 14th. Citigroup increased their price objective on shares of Olin from $21.00 to $24.00 and gave the company a “neutral” rating in a report on Tuesday, January 13th. Finally, UBS Group reduced their price objective on shares of Olin from $24.00 to $22.00 and set a “neutral” rating on the stock in a research note on Wednesday, October 29th. One analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating, eleven have assigned a Hold rating and two have given a Sell rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average price target of $24.29.

About Olin

Olin Corporation is a diversified manufacturer specializing in chemical products and ammunition. The company’s core business activities encompass the production and distribution of chlor-alkali products, epoxy resins and derivatives, and small-caliber ammunition under the Winchester brand. Olin’s chemical operations supply chlorine, caustic soda and related co-products to a wide range of end markets, including water treatment, pulp and paper, pharmaceuticals and general industrial applications.

In its Chlor Alkali Products & Vinyls segment, Olin operates multiple manufacturing facilities that produce chlorine and sodium hydroxide, along with vinyl chloride monomer and polyvinyl chloride (PVC) compounds.