Shares of Olin Co. (NYSE:OLN) have received a consensus recommendation of “Buy” from the thirteen analysts that are presently covering the firm, MarketBeat reports. Three equities research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company. The average 12 month price target among brokers that have covered the stock in the last year is $38.88.
Several equities analysts have weighed in on OLN shares. Zacks Investment Research upgraded Olin from a “hold” rating to a “buy” rating and set a $41.00 price objective on the stock in a research note on Friday, January 19th. Vertical Research upgraded Olin from a “hold” rating to a “buy” rating in a research note on Wednesday, January 3rd. SunTrust Banks restated a “buy” rating and set a $46.00 price objective on shares of Olin in a research note on Monday, November 6th. Morgan Stanley started coverage on Olin in a research note on Tuesday, January 9th. They set an “overweight” rating and a $45.00 price objective on the stock. Finally, TheStreet upgraded Olin from a “c+” rating to a “b” rating in a research note on Tuesday, October 31st.
In other Olin news, Director Randall W. Larrimore bought 800 shares of the firm’s stock in a transaction dated Monday, February 12th. The stock was purchased at an average cost of $31.28 per share, with a total value of $25,024.00. Following the transaction, the director now directly owns 6,500 shares in the company, valued at approximately $203,320. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, Director Donald W. Bogus bought 6,000 shares of the firm’s stock in a transaction dated Friday, February 16th. The shares were acquired at an average cost of $33.07 per share, with a total value of $198,420.00. Following the completion of the transaction, the director now owns 83,118 shares in the company, valued at $2,748,712.26. The disclosure for this purchase can be found here. Company insiders own 2.90% of the company’s stock.
Several institutional investors have recently made changes to their positions in the company. Bessemer Group Inc. increased its holdings in Olin by 971.4% in the 4th quarter. Bessemer Group Inc. now owns 4,725 shares of the specialty chemicals company’s stock worth $168,000 after acquiring an additional 4,284 shares during the last quarter. Fuller & Thaler Asset Management Inc. purchased a new stake in Olin in the 4th quarter worth about $178,000. Cambridge Investment Research Advisors Inc. purchased a new stake in Olin in the 4th quarter worth about $201,000. Naples Global Advisors LLC purchased a new stake in Olin in the 4th quarter worth about $206,000. Finally, Fox Run Management L.L.C. purchased a new stake in Olin in the 4th quarter worth about $210,000. 88.31% of the stock is owned by hedge funds and other institutional investors.
Shares of Olin (NYSE OLN) traded down $0.89 on Friday, hitting $32.22. The company had a trading volume of 1,057,514 shares, compared to its average volume of 2,228,410. Olin has a 12 month low of $27.79 and a 12 month high of $38.84. The company has a current ratio of 1.78, a quick ratio of 1.07 and a debt-to-equity ratio of 1.31. The company has a market cap of $5,480.00, a PE ratio of 48.64, a P/E/G ratio of 1.14 and a beta of 1.35.
Olin (NYSE:OLN) last issued its earnings results on Tuesday, February 6th. The specialty chemicals company reported $2.89 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.44 by $2.45. Olin had a return on equity of 6.02% and a net margin of 8.77%. The company had revenue of $1.62 billion for the quarter, compared to analysts’ expectations of $1.53 billion. During the same period last year, the business earned $0.11 EPS. Olin’s quarterly revenue was up 16.9% compared to the same quarter last year. analysts anticipate that Olin will post 2.12 earnings per share for the current fiscal year.
The firm also recently announced a quarterly dividend, which will be paid on Friday, March 9th. Stockholders of record on Friday, February 9th will be given a dividend of $0.20 per share. This represents a $0.80 annualized dividend and a dividend yield of 2.48%. The ex-dividend date is Thursday, February 8th. Olin’s dividend payout ratio is presently 121.21%.
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Olin Corporation is a manufacturer and distributor of chemical products, and ammunition. The Company operates through three segments: Chlor Alkali Products and Vinyls, Epoxy and Winchester. The Chlor Alkali Products and Vinyls segment manufactures and sells chlorine and caustic soda, ethylene dichloride and vinyl chloride monomer, methyl chloride, methylene chloride, chloroform, carbon tetrachloride, perchloroethylene, trichloroethylene and vinylidene chloride, hydrochloric acid, hydrogen, bleach products and potassium hydroxide.
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