Olin Co. (NYSE:OLN) – Investment analysts at SunTrust Banks reduced their Q3 2019 earnings estimates for shares of Olin in a note issued to investors on Wednesday, June 19th. SunTrust Banks analyst J. Sheehan now forecasts that the specialty chemicals company will earn $0.49 per share for the quarter, down from their prior forecast of $0.61. SunTrust Banks also issued estimates for Olin’s FY2019 earnings at $1.41 EPS.
Several other brokerages also recently commented on OLN. Nomura raised Olin from a “reduce” rating to a “neutral” rating and raised their price objective for the stock from $22.00 to $25.00 in a research note on Monday, April 15th. ValuEngine downgraded Olin from a “hold” rating to a “sell” rating in a research note on Friday, March 1st. Cowen reaffirmed an “outperform” rating and set a $27.00 price objective (down previously from $31.00) on shares of Olin in a research note on Monday, May 6th. Finally, Alembic Global Advisors initiated coverage on Olin in a research note on Monday, April 22nd. They set a “buy” rating and a $32.00 price objective on the stock. Two analysts have rated the stock with a sell rating, four have given a hold rating and eight have given a buy rating to the stock. Olin presently has an average rating of “Hold” and an average price target of $29.33.
Shares of Olin stock opened at $21.40 on Monday. The firm has a market cap of $3.56 billion, a P/E ratio of 12.23, a PEG ratio of 0.74 and a beta of 1.51. Olin has a 12 month low of $17.87 and a 12 month high of $32.00. The company has a debt-to-equity ratio of 1.08, a current ratio of 1.48 and a quick ratio of 0.85. The business’s fifty day simple moving average is $21.44.
Olin (NYSE:OLN) last issued its quarterly earnings data on Tuesday, April 30th. The specialty chemicals company reported $0.28 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.32 by ($0.04). The business had revenue of $1.55 billion for the quarter, compared to analyst estimates of $1.69 billion. Olin had a return on equity of 11.12% and a net margin of 5.14%. The business’s quarterly revenue was down 9.2% compared to the same quarter last year. During the same period in the previous year, the business posted $0.12 EPS.
Several large investors have recently added to or reduced their stakes in the stock. SG Americas Securities LLC increased its position in shares of Olin by 1.8% in the first quarter. SG Americas Securities LLC now owns 26,162 shares of the specialty chemicals company’s stock valued at $605,000 after acquiring an additional 472 shares during the last quarter. Boston Partners increased its position in shares of Olin by 2.4% in the first quarter. Boston Partners now owns 23,008 shares of the specialty chemicals company’s stock valued at $532,000 after acquiring an additional 543 shares during the last quarter. Oakbrook Investments LLC increased its position in shares of Olin by 3.5% in the first quarter. Oakbrook Investments LLC now owns 17,600 shares of the specialty chemicals company’s stock valued at $407,000 after acquiring an additional 600 shares during the last quarter. CWM LLC increased its position in shares of Olin by 1,219.7% in the first quarter. CWM LLC now owns 1,676 shares of the specialty chemicals company’s stock valued at $39,000 after acquiring an additional 1,549 shares during the last quarter. Finally, JOYN Advisors Inc. increased its position in shares of Olin by 743.3% in the fourth quarter. JOYN Advisors Inc. now owns 1,813 shares of the specialty chemicals company’s stock valued at $36,000 after acquiring an additional 1,598 shares during the last quarter. 91.78% of the stock is currently owned by institutional investors and hedge funds.
In related news, Director Scott Mcdougald Sutton bought 8,000 shares of the stock in a transaction that occurred on Wednesday, May 8th. The shares were acquired at an average price of $20.71 per share, with a total value of $165,680.00. Following the completion of the transaction, the director now owns 30,000 shares in the company, valued at $621,300. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, EVP John L. Mcintosh sold 19,335 shares of Olin stock in a transaction dated Wednesday, May 22nd. The shares were sold at an average price of $22.54, for a total value of $435,810.90. Following the completion of the sale, the executive vice president now directly owns 81,477 shares in the company, valued at approximately $1,836,491.58. The disclosure for this sale can be found here. Company insiders own 1.90% of the company’s stock.
The company also recently declared a quarterly dividend, which was paid on Monday, June 10th. Shareholders of record on Friday, May 10th were paid a $0.20 dividend. This represents a $0.80 annualized dividend and a dividend yield of 3.74%. The ex-dividend date was Thursday, May 9th. Olin’s dividend payout ratio is 45.71%.
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, potassium hydroxide, chlorinated organics intermediates and solvents, and sodium hypochlorite.The Epoxy segment provides allyl chloride and epichlorohydrin, as well as acetone, bisphenol, cumene, and phenol for use in resins and other plastic materials, water purification, and pesticides, as well as for the manufacturers of polymers; liquid and solid epoxy resins that are used in adhesives, paints and coatings, composites, and flooring; and differentiated epoxy resins for use in electrical laminates, paints and coatings, wind blades, electronics, and construction, as well as offers additives.
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