Olin (NYSE:OLN) Posts Earnings Results, Misses Estimates By $0.20 EPS

Olin (NYSE:OLN) released its earnings results on Thursday. The specialty chemicals company reported ($0.12) EPS for the quarter, missing analysts’ consensus estimates of $0.08 by ($0.20), FiscalAI reports. Olin had a negative net margin of 1.89% and a negative return on equity of 4.68%. The firm had revenue of $1.74 billion during the quarter, compared to analysts’ expectations of $1.81 billion. During the same quarter in the previous year, the business earned ($0.01) EPS. The company’s revenue for the quarter was down .9% compared to the same quarter last year.

Olin Stock Down 0.4%

Shares of OLN traded down $0.08 during trading hours on Thursday, hitting $22.11. The company had a trading volume of 2,578,224 shares, compared to its average volume of 2,854,892. The stock has a market capitalization of $2.52 billion, a price-to-earnings ratio of -19.74 and a beta of 1.21. The firm has a fifty day moving average price of $22.87 and a 200-day moving average price of $24.79. Olin has a 52-week low of $18.08 and a 52-week high of $30.46. The company has a debt-to-equity ratio of 1.73, a quick ratio of 0.82 and a current ratio of 1.36.

Analysts Set New Price Targets

A number of analysts have recently commented on the stock. The Goldman Sachs Group dropped their target price on shares of Olin from $31.00 to $24.00 and set a “neutral” rating on the stock in a report on Thursday, July 16th. Weiss Ratings reissued a “sell (d)” rating on shares of Olin in a research report on Friday, May 22nd. Wells Fargo & Company restated an “overweight” rating and issued a $37.00 price objective on shares of Olin in a report on Sunday, May 10th. Mizuho decreased their target price on shares of Olin from $26.00 to $23.00 and set a “neutral” rating for the company in a research note on Wednesday, July 1st. Finally, Morgan Stanley lifted their target price on shares of Olin from $18.00 to $22.00 and gave the company an “underweight” rating in a report on Monday, May 11th. One analyst has rated the stock with a Strong Buy rating, two have given a Buy rating, nine have given a Hold rating and four have assigned a Sell rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Hold” and a consensus price target of $26.46.

Institutional Trading of Olin

A number of institutional investors and hedge funds have recently bought and sold shares of OLN. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. purchased a new position in Olin in the first quarter worth about $32,000. UMB Bank n.a. grew its holdings in shares of Olin by 34.0% during the fourth quarter. UMB Bank n.a. now owns 2,597 shares of the specialty chemicals company’s stock valued at $54,000 after buying an additional 659 shares during the last quarter. NewEdge Advisors LLC grew its holdings in shares of Olin by 45.0% during the third quarter. NewEdge Advisors LLC now owns 2,323 shares of the specialty chemicals company’s stock valued at $58,000 after buying an additional 721 shares during the last quarter. Headlands Technologies LLC increased its position in shares of Olin by 67.6% during the second quarter. Headlands Technologies LLC now owns 4,400 shares of the specialty chemicals company’s stock valued at $88,000 after acquiring an additional 1,775 shares in the last quarter. Finally, Tower Research Capital LLC TRC increased its position in shares of Olin by 20.5% during the second quarter. Tower Research Capital LLC TRC now owns 7,031 shares of the specialty chemicals company’s stock valued at $141,000 after acquiring an additional 1,195 shares in the last quarter. 88.67% of the stock is currently owned by institutional investors.

Olin Company Profile

Olin Corporation is a diversified manufacturer specializing in chemical products and ammunition. The company’s core business activities encompass the production and distribution of chlor-alkali products, epoxy resins and derivatives, and small-caliber ammunition under the Winchester brand. Olin’s chemical operations supply chlorine, caustic soda and related co-products to a wide range of end markets, including water treatment, pulp and paper, pharmaceuticals and general industrial applications.

In its Chlor Alkali Products & Vinyls segment, Olin operates multiple manufacturing facilities that produce chlorine and sodium hydroxide, along with vinyl chloride monomer and polyvinyl chloride (PVC) compounds.