Olin (OLN) Stock Rating Lowered by Zacks Investment Research

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Olin (NYSE:OLN) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a research note issued to investors on Thursday.

According to Zacks, “Earnings estimates for Olin for the fourth quarter and full-year 2018 have been going down lately. Olin is facing certain challenges in its Winchester unit including higher commodity material costs. Moreover, raw material cost inflation and commodity cost headwinds may dent its performance. The company’s high debt level is another concern. Olin has also underperformed the industry it belongs to in a year’s time.”

A number of other equities research analysts have also commented on OLN. TheStreet lowered shares of Olin from a “b-” rating to a “c+” rating in a report on Monday, November 12th. SunTrust Banks decreased their price objective on shares of Olin to $35.00 and set an “in-line” rating on the stock in a report on Wednesday, October 31st. They noted that the move was a valuation call. ValuEngine raised shares of Olin from a “strong sell” rating to a “sell” rating in a report on Thursday, December 13th. Barclays decreased their price objective on shares of Olin from $29.00 to $24.00 and set an “equal weight” rating on the stock in a report on Wednesday, October 31st. Finally, Nomura decreased their price objective on shares of Olin from $33.00 to $29.00 and set a “neutral” rating on the stock in a report on Monday, October 15th. Two research analysts have rated the stock with a sell rating, four have assigned a hold rating and seven have assigned a buy rating to the stock. The stock currently has a consensus rating of “Hold” and a consensus target price of $32.00.

OLN opened at $22.89 on Thursday. The company has a debt-to-equity ratio of 1.14, a quick ratio of 1.13 and a current ratio of 1.81. Olin has a twelve month low of $17.87 and a twelve month high of $38.75. The stock has a market capitalization of $3.71 billion, a PE ratio of 28.26, a PEG ratio of 0.28 and a beta of 1.52.

Olin (NYSE:OLN) last posted its earnings results on Monday, October 29th. The specialty chemicals company reported $0.66 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.75 by ($0.09). Olin had a return on equity of 10.70% and a net margin of 11.02%. The firm had revenue of $1.87 billion during the quarter, compared to the consensus estimate of $1.80 billion. During the same period in the previous year, the company posted $0.31 EPS. The firm’s revenue for the quarter was up 20.4% compared to the same quarter last year. Analysts expect that Olin will post 1.88 earnings per share for the current year.

In other Olin news, Director Scott Mcdougald Sutton bought 15,000 shares of Olin stock in a transaction dated Thursday, November 1st. The shares were bought at an average price of $21.62 per share, with a total value of $324,300.00. Following the purchase, the director now owns 15,000 shares of the company’s stock, valued at $324,300. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, SVP John Maurice Sampson bought 5,000 shares of Olin stock in a transaction dated Tuesday, November 20th. The stock was acquired at an average cost of $19.84 per share, for a total transaction of $99,200.00. The disclosure for this purchase can be found here. Insiders bought a total of 21,800 shares of company stock worth $460,844 in the last ninety days. Insiders own 1.70% of the company’s stock.

Several hedge funds and other institutional investors have recently modified their holdings of the company. FMR LLC raised its position in shares of Olin by 68.3% in the 2nd quarter. FMR LLC now owns 12,699,713 shares of the specialty chemicals company’s stock valued at $364,736,000 after acquiring an additional 5,155,375 shares during the period. Morgan Stanley raised its position in shares of Olin by 93.7% in the 3rd quarter. Morgan Stanley now owns 1,840,101 shares of the specialty chemicals company’s stock valued at $47,253,000 after acquiring an additional 890,205 shares during the period. TIAA CREF Investment Management LLC raised its position in shares of Olin by 7.0% in the 3rd quarter. TIAA CREF Investment Management LLC now owns 8,529,381 shares of the specialty chemicals company’s stock valued at $219,035,000 after acquiring an additional 558,878 shares during the period. Federated Investors Inc. PA raised its position in shares of Olin by 295.0% in the 3rd quarter. Federated Investors Inc. PA now owns 519,686 shares of the specialty chemicals company’s stock valued at $13,346,000 after acquiring an additional 388,129 shares during the period. Finally, Victory Capital Management Inc. acquired a new stake in shares of Olin in the 3rd quarter valued at approximately $9,256,000. 86.92% of the stock is currently owned by institutional investors.

Olin Company Profile

Olin Corporation manufactures and distributes chemical products in the United States and internationally. 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, trichloroethylene and vinylidene chloride, hydrochloric acid, hydrogen, bleach products, and potassium hydroxide.

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