Olin (NYSE:OLN) Trading Down 3.7%

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Olin Co. (NYSE:OLN) dropped 3.7% during trading on Thursday . The company traded as low as $39.60 and last traded at $39.76. Approximately 8,071 shares were traded during mid-day trading, a decline of 99% from the average daily volume of 1,510,300 shares. The stock had previously closed at $41.29.

A number of equities analysts have recently issued reports on the company. Citigroup Inc. 3% Minimum Coupon Principal Protected Based Upon Russell upgraded Olin from a “neutral” rating to a “buy” rating in a research report on Thursday, April 15th. Wells Fargo & Company boosted their price target on shares of Olin from $39.00 to $50.00 and gave the stock an “overweight” rating in a research report on Tuesday, March 23rd. Royal Bank of Canada upgraded shares of Olin from a “sector perform” rating to an “outperform” rating and increased their price objective for the stock from $26.00 to $56.00 in a research report on Thursday, April 1st. KeyCorp boosted their target price on shares of Olin from $48.00 to $50.00 and gave the company an “overweight” rating in a report on Monday. Finally, Tudor Pickering raised Olin from a “hold” rating to a “buy” rating and set a $47.00 price objective for the company in a research report on Wednesday, March 24th. One equities research analyst has rated the stock with a sell rating, five have given a hold rating and eight have issued a buy rating to the company’s stock. Olin presently has an average rating of “Buy” and a consensus target price of $37.80.

The company has a 50-day moving average of $37.23 and a 200-day moving average of $26.86. The company has a market cap of $6.41 billion, a PE ratio of -6.23, a PEG ratio of 1.19 and a beta of 1.22. The company has a quick ratio of 1.02, a current ratio of 1.60 and a debt-to-equity ratio of 2.70.

Olin (NYSE:OLN) last posted its 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 firm 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%. As a group, equities analysts predict that Olin Co. will post -2.47 EPS for the current year.

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, March 10th. Shareholders of record on Tuesday, March 2nd were given a $0.20 dividend. This represents a $0.80 dividend on an annualized basis and a yield of 1.98%. The ex-dividend date of this dividend was Monday, March 1st. Olin’s payout ratio is 133.33%.

Institutional investors have recently bought and sold shares of the business. Evolution Wealth Advisors LLC bought a new position in shares of Olin in the fourth quarter valued at approximately $25,000. Charter Oak Capital Management LLC purchased a new stake in shares of Olin during the 4th quarter valued at $35,000. Global Retirement Partners LLC raised its stake in shares of Olin by 701.4% during the 1st quarter. Global Retirement Partners LLC now owns 1,154 shares of the specialty chemicals company’s stock worth $44,000 after purchasing an additional 1,010 shares during the period. CI Investments Inc. purchased a new position in shares of Olin in the 4th quarter worth about $57,000. Finally, Captrust Financial Advisors boosted its holdings in shares of Olin by 344.8% in the 4th quarter. Captrust Financial Advisors now owns 2,958 shares of the specialty chemicals company’s stock worth $73,000 after buying an additional 2,293 shares during the last quarter. 84.70% of the stock is currently owned by hedge funds and other institutional investors.

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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