Olin (NYSE:OLN) Stock Lifted to Hold by Barclays

Barclays upgraded shares of Olin (NYSE:OLN) to a hold rating in a research report sent to investors on Monday,Zacks reports.

Several other brokerages also recently weighed in on OLN. Bank of America downgraded Olin from a “buy” rating to an “underperform” rating and cut their price target for the company from $32.00 to $21.00 in a report on Tuesday, June 30th. Wall Street Zen cut Olin from a “sell” rating to a “strong sell” rating in a report on Saturday, August 8th. Wells Fargo & Company decreased their price objective on Olin from $20.00 to $16.00 and set an “equal weight” rating on the stock in a report on Thursday, October 1st. Mizuho lifted their price objective on Olin from $23.00 to $24.00 and gave the company a “neutral” rating in a research report on Friday, July 31st. Finally, KeyCorp assumed coverage on Olin in a research note on Friday, September 11th. They issued an “overweight” rating and a $26.00 target price for the company. One equities research analyst has rated the stock with a Buy rating, twelve have issued a Hold rating and three have issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Reduce” and an average price target of $20.43.

Olin Price Performance

Olin stock opened at $15.01 on Monday. The stock has a market capitalization of $1.71 billion, a P/E ratio of -12.20 and a beta of 1.23. Olin has a 12-month low of $14.64 and a 12-month high of $30.46. The company has a debt-to-equity ratio of 1.77, a current ratio of 1.42 and a quick ratio of 0.87. The firm’s 50-day moving average is $17.12 and its two-hundred day moving average is $22.06.

Olin (NYSE:OLN) last posted its quarterly earnings data on Thursday, July 30th. The specialty chemicals company reported ($0.12) earnings per share for the quarter, missing analysts’ consensus estimates of $0.13 by ($0.25). The firm had revenue of $1.74 billion during the quarter, compared to analyst estimates of $1.81 billion. Olin had a negative net margin of 2.08% and a negative return on equity of 4.76%. The business’s quarterly revenue was down .9% on a year-over-year basis. During the same period in the prior year, the firm earned ($0.01) EPS. Equities analysts predict that Olin will post -0.68 earnings per share for the current year.

Olin Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, September 11th. Investors of record on Thursday, August 27th were issued a $0.20 dividend. This represents a $0.80 dividend on an annualized basis and a yield of 5.3%. The ex-dividend date was Thursday, August 27th. Olin’s payout ratio is presently -65.04%.

Hedge Funds Weigh In On Olin

A number of large investors have recently bought and sold shares of the stock. Rockefeller Capital Management L.P. increased its position in Olin by 115.2% during the 4th quarter. Rockefeller Capital Management L.P. now owns 1,231 shares of the specialty chemicals company’s stock worth $26,000 after purchasing an additional 659 shares in the last quarter. Sunbelt Securities Inc. purchased a new position in Olin in the first quarter valued at approximately $45,000. Nykredit A S acquired a new position in Olin during the second quarter valued at approximately $59,000. IFP Advisors Inc lifted its position in Olin by 118.9% during the second quarter. IFP Advisors Inc now owns 3,163 shares of the specialty chemicals company’s stock valued at $63,000 after buying an additional 1,718 shares in the last quarter. Finally, Nalls Sherbakoff Group LLC acquired a new position in Olin during the fourth quarter valued at approximately $66,000. Hedge funds and other institutional investors own 88.67% of the company’s stock.

About Olin

Olin Corporation is a global manufacturer of chemical products and ammunition. The company operates through its Chlor Alkali Products and Vinyls, Epoxy, and Winchester businesses, serving customers in a range of industrial, commercial, and consumer markets.

Olin’s Chlor Alkali Products and Vinyls business produces chlorine, caustic soda, hydrochloric acid, hydrogen, bleach products, chlorinated organic chemicals, and related materials used in water treatment, construction, pulp and paper, energy, and other manufacturing applications.