Olin (NYSE:OLN) Shares Up 4.4% – What’s Next?

Shares of Olin Corporation (NYSE:OLN) traded up 4.4% during trading on Monday. The company traded as high as $16.42 and last traded at $16.3550. Approximately 440,798 shares changed hands during mid-day trading, a decline of 86% from the average daily volume of 3,120,430 shares. The stock had previously closed at $15.66.

Wall Street Analyst Weigh In

OLN has been the topic of a number of research reports. Bank of America lowered shares of Olin from a “buy” rating to an “underperform” rating and reduced their target price for the stock from $32.00 to $21.00 in a research report on Tuesday, June 30th. The Goldman Sachs Group set a $18.00 price target on Olin in a report on Wednesday, September 30th. Truist Financial dropped their price objective on Olin from $20.00 to $15.00 and set a “hold” rating on the stock in a research note on Tuesday, October 20th. Citigroup dropped their price objective on Olin from $19.00 to $17.00 and set a “neutral” rating on the stock in a research note on Wednesday, September 30th. Finally, Mizuho raised their price objective on Olin from $23.00 to $24.00 and gave the stock a “neutral” rating in a report on Friday, July 31st. One equities research analyst has rated the stock with a Buy rating, twelve have assigned a Hold rating and three have issued a Sell rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Reduce” and a consensus price target of $20.07.

Olin Price Performance

The firm has a fifty day moving average of $16.63 and a two-hundred day moving average of $21.39. The stock has a market capitalization of $1.85 billion, a P/E ratio of -13.24 and a beta of 1.23. The company has a debt-to-equity ratio of 1.77, a current ratio of 1.42 and a quick ratio of 0.87.

Olin (NYSE:OLN) last issued its earnings results on Thursday, July 30th. The specialty chemicals company reported ($0.12) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.13 by ($0.25). Olin had a negative return on equity of 4.76% and a negative net margin of 2.08%. The business had revenue of $1.74 billion for the quarter, compared to the consensus estimate of $1.81 billion. During the same quarter in the previous year, the company earned ($0.01) earnings per share. The firm’s revenue was down .9% on a year-over-year basis. On average, analysts predict that Olin Corporation will post -0.80 EPS for the current year.

Olin Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, September 11th. Stockholders of record on Thursday, August 27th were issued a $0.20 dividend. The ex-dividend date was Thursday, August 27th. This represents a $0.80 annualized dividend and a dividend yield of 4.9%. Olin’s payout ratio is currently -65.04%.

Hedge Funds Weigh In On Olin

Hedge funds and other institutional investors have recently modified their holdings of the business. Dimensional Fund Advisors LP boosted its stake in shares of Olin by 22.4% during the first quarter. Dimensional Fund Advisors LP now owns 5,627,997 shares of the specialty chemicals company’s stock valued at $167,311,000 after purchasing an additional 1,031,498 shares in the last quarter. Bank of New York Mellon Corp increased its holdings in Olin by 1.0% during the first quarter. Bank of New York Mellon Corp now owns 1,232,912 shares of the specialty chemicals company’s stock valued at $36,654,000 after buying an additional 12,290 shares during the period. First Trust Advisors LP raised its stake in Olin by 80.8% in the first quarter. First Trust Advisors LP now owns 713,041 shares of the specialty chemicals company’s stock worth $21,199,000 after buying an additional 318,588 shares in the last quarter. Amundi raised its stake in Olin by 337.2% in the first quarter. Amundi now owns 684,036 shares of the specialty chemicals company’s stock worth $20,336,000 after buying an additional 527,586 shares in the last quarter. Finally, Segall Bryant & Hamill LLC bought a new position in Olin in the first quarter worth approximately $14,770,000. 88.67% of the stock is currently owned by institutional investors.

Olin Company Profile

Olin Corporation (NYSE: OLN) is a global manufacturer of chemicals and ammunition. The company operates through three primary businesses: Chlor Alkali Products and Vinyls, Epoxy, and Winchester.

Its Chlor Alkali Products and Vinyls business produces chlorine, caustic soda, hydrochloric acid, bleach products, hydrogen, chlorinated organic chemicals and other related materials used in industrial, water-treatment, construction and consumer applications. Olin’s Epoxy business manufactures epoxy resins, intermediates and other specialty materials used in coatings, adhesives, composites, electronics and infrastructure-related applications.

Through its Winchester business, Olin produces and distributes sporting ammunition, reloading components, and small-caliber ammunition for law enforcement and military customers.