Olin Corporation (OLN) – What Are Researchers Saying About This Stock?

Olin Corporation (NYSE:OLN) has been assigned an average rating of “Reduce” from the sixteen analysts that are presently covering the company, Marketbeat Ratings reports. Three analysts have rated the stock with a sell recommendation, twelve have assigned a hold recommendation and one has issued a buy recommendation on the company. The average twelve-month target price among brokerages that have covered the stock in the last year is $20.64.

Several brokerages have issued reports on OLN. Royal Bank Of Canada increased their price objective on shares of Olin from $16.00 to $19.00 and gave the company a “sector perform” rating in a research report on Monday, November 2nd. Citigroup lifted their price objective on shares of Olin from $17.00 to $19.00 and gave the company a “neutral” rating in a research note on Monday, November 2nd. Deutsche Bank Aktiengesellschaft reduced their target price on shares of Olin from $30.00 to $20.00 and set a “hold” rating on the stock in a research report on Tuesday, August 25th. Truist Financial upped their target price on shares of Olin from $15.00 to $17.00 and gave the company a “hold” rating in a research note on Monday, November 2nd. Finally, Weiss Ratings restated a “sell (d)” rating on shares of Olin in a research note on Wednesday, August 19th.

Olin Price Performance

OLN stock opened at $17.31 on Wednesday. The company has a debt-to-equity ratio of 1.75, a quick ratio of 0.88 and a current ratio of 1.45. Olin has a 1 year low of $14.64 and a 1 year high of $30.46. The firm has a market cap of $1.97 billion, a P/E ratio of -11.77 and a beta of 1.14. The stock has a 50-day simple moving average of $16.46 and a 200-day simple moving average of $22.14.

Olin (NYSE:OLN) last announced its earnings results on Thursday, October 29th. The specialty chemicals company reported $0.13 EPS for the quarter, missing the consensus estimate of $0.15 by ($0.02). The company had revenue of $1.75 billion for the quarter, compared to analysts’ expectations of $1.83 billion. Olin had a negative net margin of 2.49% and a negative return on equity of 6.63%. The business’s quarterly revenue was up 2.0% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.37 earnings per share. On average, equities analysts predict that Olin will post -0.83 earnings per share for the current fiscal year.

Olin Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, September 11th. Shareholders of record on Thursday, August 27th were issued a $0.20 dividend. The ex-dividend date was Thursday, August 27th. This represents a $0.80 dividend on an annualized basis and a yield of 4.6%. Olin’s payout ratio is currently -54.42%.

Hedge Funds Weigh In On Olin

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Fifth Third Bancorp raised its position in shares of Olin by 9.2% in the 3rd quarter. Fifth Third Bancorp now owns 101,189 shares of the specialty chemicals company’s stock valued at $1,568,000 after purchasing an additional 8,484 shares in the last quarter. Fulcrum Asset Management LLP acquired a new stake in shares of Olin during the third quarter worth approximately $577,000. 180 Wealth Advisors LLC acquired a new stake in shares of Olin during the third quarter worth approximately $179,000. Cowa LLC grew its position in shares of Olin by 8.1% during the third quarter. Cowa LLC now owns 11,919 shares of the specialty chemicals company’s stock worth $185,000 after buying an additional 890 shares in the last quarter. Finally, Chicago Partners Investment Group LLC grew its position in shares of Olin by 26.1% during the third quarter. Chicago Partners Investment Group LLC now owns 15,832 shares of the specialty chemicals company’s stock worth $248,000 after buying an additional 3,275 shares in the last quarter. 88.67% of the stock is owned by hedge funds and other institutional investors.

About Olin

Olin Corporation (NYSE: OLN) is a global manufacturer of chemicals and ammunition. The company operates through three primary businesses: Chlor Alkali Products and Vinyls, Epoxy, and Winchester.

Its Chlor Alkali Products and Vinyls business produces chlorine, caustic soda, hydrochloric acid, bleach products, hydrogen, chlorinated organic chemicals and other related materials used in industrial, water-treatment, construction and consumer applications. Olin’s Epoxy business manufactures epoxy resins, intermediates and other specialty materials used in coatings, adhesives, composites, electronics and infrastructure-related applications.

Through its Winchester business, Olin produces and distributes sporting ammunition, reloading components, and small-caliber ammunition for law enforcement and military customers.