Olin (OLN) Trading Down 5.8% After Analyst Downgrade

Shares of Olin Co. (NYSE:OLN) traded down 5.8% during mid-day trading on Thursday after Nomura lowered their price target on the stock from $43.00 to $40.00. Nomura currently has a buy rating on the stock. Olin traded as low as $33.15 and last traded at $31.33. 1,498,578 shares were traded during mid-day trading, a decline of 29% from the average session volume of 2,097,879 shares. The stock had previously closed at $33.25.

OLN has been the topic of several other research reports. Royal Bank of Canada restated a “buy” rating and issued a $42.00 price objective on shares of Olin in a research note on Thursday, December 14th. Zacks Investment Research upgraded Olin from a “hold” rating to a “buy” rating and set a $42.00 price objective on the stock in a research note on Friday, January 12th. Morgan Stanley assumed coverage on Olin in a research note on Tuesday, January 9th. They issued an “overweight” rating and a $45.00 price objective on the stock. SunTrust Banks restated a “buy” rating and issued a $46.00 price objective on shares of Olin in a research note on Monday, November 6th. Finally, Vertical Research upgraded Olin from a “hold” rating to a “buy” rating in a research note on Wednesday, January 3rd. Two analysts have rated the stock with a hold rating and ten have given a buy rating to the company’s stock. The company has a consensus rating of “Buy” and an average target price of $40.20.

In other news, SVP John Maurice Sampson sold 3,000 shares of the stock in a transaction that occurred on Monday, November 13th. The stock was sold at an average price of $36.58, for a total transaction of $109,740.00. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, EVP John L. Mcintosh sold 9,500 shares of the stock in a transaction that occurred on Wednesday, November 15th. The stock was sold at an average price of $35.42, for a total value of $336,490.00. The disclosure for this sale can be found here. 2.90% of the stock is currently owned by company insiders.

Several hedge funds and other institutional investors have recently made changes to their positions in OLN. Flinton Capital Management LLC increased its stake in shares of Olin by 65.6% during the second quarter. Flinton Capital Management LLC now owns 15,708 shares of the specialty chemicals company’s stock worth $476,000 after purchasing an additional 6,222 shares during the period. Cubist Systematic Strategies LLC grew its position in Olin by 103.5% during the second quarter. Cubist Systematic Strategies LLC now owns 55,921 shares of the specialty chemicals company’s stock worth $1,693,000 after buying an additional 28,444 shares in the last quarter. Nomura Holdings Inc. acquired a new stake in Olin during the second quarter worth approximately $396,000. Sterling Capital Management LLC acquired a new stake in Olin during the second quarter worth approximately $778,000. Finally, Proxima Capital Management LLC grew its position in Olin by 28.5% during the second quarter. Proxima Capital Management LLC now owns 175,000 shares of the specialty chemicals company’s stock worth $5,299,000 after buying an additional 38,800 shares in the last quarter. Institutional investors own 89.68% of the company’s stock.

The stock has a market capitalization of $5,983.77, a PE ratio of 69.62, a PEG ratio of 1.06 and a beta of 1.36. The company has a debt-to-equity ratio of 1.59, a current ratio of 1.72 and a quick ratio of 1.03.

Olin (NYSE:OLN) last issued its earnings results on Tuesday, February 6th. The specialty chemicals company reported $2.89 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.44 by $2.45. The firm had revenue of $1.62 billion for the quarter, compared to the consensus estimate of $1.53 billion. Olin had a return on equity of 6.05% and a net margin of 1.29%. The company’s revenue was up 16.9% compared to the same quarter last year. During the same quarter last year, the business posted $0.11 EPS. equities research analysts forecast that Olin Co. will post 0.93 EPS for the current year.

The firm also recently announced a quarterly dividend, which will be paid on Friday, March 9th. Shareholders of record on Friday, February 9th will be issued a $0.20 dividend. This represents a $0.80 dividend on an annualized basis and a dividend yield of 2.57%. The ex-dividend date is Thursday, February 8th. Olin’s dividend payout ratio is presently 177.78%.

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About Olin

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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