Olin (NYSE:OLN) Upgraded at Barclays

Barclays upgraded shares of Olin (NYSE:OLN) to a hold rating in a research note released on Monday morning,Zacks reports.

Several other research firms also recently weighed in on OLN. Truist Financial lowered their target price on Olin from $24.00 to $20.00 and set a “hold” rating on the stock in a research report on Monday, August 3rd. The Goldman Sachs Group set a $18.00 price target on Olin in a research report on Wednesday, September 30th. BMO Capital Markets decreased their price objective on Olin from $30.00 to $25.00 and set a “market perform” rating on the stock in a research note on Monday, July 6th. Mizuho boosted their price objective on Olin from $23.00 to $24.00 and gave the company a “neutral” rating in a research note on Friday, July 31st. Finally, Weiss Ratings reissued a “sell (d)” rating on shares of Olin in a report on Wednesday, August 19th. One investment analyst has rated the stock with a Buy rating, twelve have given a Hold rating and three have given a Sell rating to the company’s stock. Based on data from MarketBeat.com, Olin has an average rating of “Reduce” and a consensus price target of $20.43.

Olin Price Performance

Shares of NYSE:OLN opened at $15.01 on Monday. The company has a quick ratio of 0.87, a current ratio of 1.42 and a debt-to-equity ratio of 1.77. The stock has a market capitalization of $1.71 billion, a PE ratio of -12.20 and a beta of 1.23. The firm’s 50 day moving average price is $17.12 and its 200-day moving average price is $22.06. Olin has a twelve month low of $14.64 and a twelve month high of $30.46.

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

Olin Announces Dividend

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

Institutional Investors Weigh In On Olin

Institutional investors and hedge funds have recently modified their holdings of the stock. Bank of New York Mellon Corp bought a new position in Olin during the second quarter valued at approximately $23,785,000. Dimensional Fund Advisors LP grew its holdings in Olin by 22.4% during the 1st quarter. Dimensional Fund Advisors LP now owns 5,627,997 shares of the specialty chemicals company’s stock valued at $167,311,000 after buying an additional 1,031,498 shares in the last quarter. Amundi increased its stake in Olin by 337.2% in the 1st quarter. Amundi now owns 684,036 shares of the specialty chemicals company’s stock worth $20,336,000 after acquiring an additional 527,586 shares during the last quarter. Segall Bryant & Hamill LLC bought a new stake in Olin in the 1st quarter worth approximately $14,770,000. Finally, Empowered Funds LLC increased its stake in Olin by 1,946.0% in the 1st quarter. Empowered Funds LLC now owns 435,599 shares of the specialty chemicals company’s stock worth $12,950,000 after acquiring an additional 414,309 shares during the last quarter. Institutional investors own 88.67% of the company’s stock.

Olin Company Profile

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.