Olin Co. (NYSE:OLN) has been assigned a consensus rating of “Hold” from the eighteen research firms that are currently covering the company, MarketBeat Ratings reports. Two equities research analysts have rated the stock with a sell recommendation, eleven have issued a hold recommendation and three have given a buy recommendation to the company. The average twelve-month price objective among analysts that have covered the stock in the last year is $15.53.
Several analysts have commented on OLN shares. Vertical Group downgraded shares of Olin from a “buy” rating to a “hold” rating and set a $15.00 target price on the stock. in a report on Friday, May 1st. UBS Group raised their target price on shares of Olin from $12.00 to $16.00 and gave the stock a “neutral” rating in a report on Thursday, April 30th. Citigroup raised their target price on shares of Olin from $10.00 to $13.00 and gave the stock a “neutral” rating in a report on Thursday, April 9th. KeyCorp initiated coverage on shares of Olin in a report on Wednesday, March 25th. They issued a “sector weight” rating and a $19.00 price objective on the stock. Finally, Royal Bank of Canada downgraded shares of Olin from a “sector perform” rating to an “underperform” rating and lowered their price objective for the company from $16.00 to $7.00 in a report on Thursday, March 26th.
Institutional investors and hedge funds have recently modified their holdings of the stock. Total Clarity Wealth Management Inc. acquired a new position in Olin during the fourth quarter worth $90,000. Point72 Hong Kong Ltd acquired a new position in Olin during the fourth quarter worth $94,000. CENTRAL TRUST Co increased its holdings in Olin by 91.9% during the first quarter. CENTRAL TRUST Co now owns 8,923 shares of the specialty chemicals company’s stock worth $104,000 after buying an additional 4,273 shares during the last quarter. Chilton Investment Co. LLC acquired a new position in Olin during the first quarter worth $117,000. Finally, HighTower Advisors LLC acquired a new position in Olin during the first quarter worth $135,000. Institutional investors and hedge funds own 92.81% of the company’s stock.
Olin (NYSE:OLN) last released its quarterly earnings data on Wednesday, April 29th. The specialty chemicals company reported ($0.39) earnings per share for the quarter, missing the consensus estimate of ($0.27) by ($0.12). Olin had a negative return on equity of 0.55% and a negative net margin of 2.22%. The firm had revenue of $1.43 billion for the quarter, compared to the consensus estimate of $1.38 billion. During the same period in the previous year, the business earned $0.25 EPS. The firm’s revenue was down 8.3% compared to the same quarter last year. On average, sell-side analysts predict that Olin will post -1.2 EPS for the current year.
The company also recently announced a quarterly dividend, which was paid on Wednesday, June 10th. Investors of record on Monday, May 11th were issued a dividend of $0.20 per share. The ex-dividend date of this dividend was Friday, May 8th. This represents a $0.80 dividend on an annualized basis and a yield of 6.96%. Olin’s payout ratio is 133.33%.
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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