Olin (NYSE:OLN) Reaches New 12-Month High at $42.28


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Olin Co. (NYSE:OLN) shares hit a new 52-week high on Thursday . The stock traded as high as $42.28 and last traded at $41.87, with a volume of 26942 shares changing hands. The stock had previously closed at $40.27.

Several equities research analysts have weighed in on the stock. KeyCorp increased their price target on shares of Olin from $48.00 to $50.00 and gave the company an “overweight” rating in a research report on Monday, April 12th. Citigroup raised shares of Olin from a “neutral” rating to a “buy” rating and increased their price target for the company from $27.00 to $50.00 in a research report on Thursday. Alembic Global Advisors upped their price objective on shares of Olin from $37.00 to $55.00 in a report on Monday, March 29th. Morgan Stanley upped their price objective on shares of Olin from $31.00 to $40.00 and gave the stock an “equal weight” rating in a report on Thursday, March 25th. Finally, Wells Fargo & Company upped their price objective on shares of Olin from $39.00 to $50.00 and gave the stock an “overweight” rating in a report on Tuesday, March 23rd. One investment analyst has rated the stock with a sell rating, five have given a hold rating and eight have assigned a buy rating to the company’s stock. Olin presently has an average rating of “Buy” and a consensus price target of $37.80.

The company has a current ratio of 1.60, a quick ratio of 1.02 and a debt-to-equity ratio of 2.70. The company’s 50 day moving average is $36.20 and its 200-day moving average is $26.14. The company has a market capitalization of $6.66 billion, a P/E ratio of -6.53, a price-to-earnings-growth ratio of 1.19 and a beta of 1.22.

Olin (NYSE:OLN) last issued its quarterly earnings results on Thursday, January 28th. The specialty chemicals company reported ($0.12) earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.08) by ($0.04). The business had revenue of $1.65 billion during the quarter, compared to the consensus estimate of $1.46 billion. Olin had a negative return on equity of 9.98% and a negative net margin of 18.47%. Analysts predict that Olin Co. will post -2.47 EPS for the current fiscal year.

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, March 10th. Shareholders of record on Tuesday, March 2nd were paid a dividend of $0.20 per share. The ex-dividend date was Monday, March 1st. This represents a $0.80 dividend on an annualized basis and a yield of 1.91%. Olin’s dividend payout ratio is currently 133.33%.

Large investors have recently added to or reduced their stakes in the business. Zurcher Kantonalbank Zurich Cantonalbank increased its stake in Olin by 12.8% during the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 18,300 shares of the specialty chemicals company’s stock valued at $449,000 after purchasing an additional 2,070 shares in the last quarter. Harvest Investment Services LLC bought a new stake in Olin during the 4th quarter valued at about $249,000. Teacher Retirement System of Texas bought a new stake in Olin during the 4th quarter valued at about $354,000. Shapiro Capital Management LLC bought a new stake in Olin during the 4th quarter valued at about $221,000. Finally, Alliancebernstein L.P. increased its stake in Olin by 11.6% during the 4th quarter. Alliancebernstein L.P. now owns 302,299 shares of the specialty chemicals company’s stock valued at $7,424,000 after purchasing an additional 31,385 shares in the last quarter. Institutional investors and hedge funds own 84.70% of the company’s stock.

About Olin (NYSE:OLN)

Olin Corporation manufactures and distributes chemical products in the United States, Europe, 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, hydrochloric acid, hydrogen, bleach products, potassium hydroxide, chlorinated organics intermediates and solvents, and sodium hypochlorite.

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