Olin’s (OLN) “Sell (D+)” Rating Reiterated at Weiss Ratings

Olin (NYSE:OLN)‘s stock had its “sell (d+)” rating reiterated by equities research analysts at Weiss Ratings in a research report issued to clients and investors on Saturday,Weiss Ratings reports.

A number of other brokerages have also recently issued reports on OLN. Royal Bank Of Canada set a $26.00 target price on shares of Olin and gave the stock a “sector perform” rating in a research report on Tuesday, October 14th. Mizuho set a $26.00 target price on shares of Olin in a research report on Friday, October 3rd. Citigroup cut shares of Olin from a “buy” rating to a “neutral” rating and set a $25.00 target price for the company. in a research report on Thursday, October 2nd. Wells Fargo & Company increased their target price on shares of Olin from $21.00 to $25.00 and gave the stock an “equal weight” rating in a research report on Tuesday, October 7th. Finally, Bank of America raised their price objective on shares of Olin from $25.00 to $30.00 and gave the company a “buy” rating in a research report on Tuesday, October 14th. One equities research analyst has rated the stock with a Strong Buy rating, two have given a Buy rating, eleven have issued a Hold rating and two have assigned a Sell rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus target price of $25.71.

Olin Trading Up 0.3%

Shares of OLN stock opened at $24.05 on Friday. Olin has a 52-week low of $17.66 and a 52-week high of $44.76. The stock has a market cap of $2.76 billion, a price-to-earnings ratio of -200.44 and a beta of 1.68. The company has a debt-to-equity ratio of 1.50, a quick ratio of 0.88 and a current ratio of 1.48. The firm has a fifty day moving average of $24.03 and a 200-day moving average of $21.85.

Olin (NYSE:OLN) last announced its quarterly earnings data on Monday, July 28th. The specialty chemicals company reported $0.05 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.09 by ($0.04). Olin had a negative net margin of 0.21% and a negative return on equity of 0.13%. The business had revenue of $1.76 billion during the quarter, compared to analyst estimates of $1.68 billion. During the same quarter in the prior year, the company posted $0.62 EPS. The company’s quarterly revenue was up 7.0% compared to the same quarter last year. On average, equities research analysts forecast that Olin will post 1.38 earnings per share for the current fiscal year.

Insider Activity

In related news, VP Teresa M. Vermillion sold 6,000 shares of Olin stock in a transaction that occurred on Wednesday, August 13th. The shares were sold at an average price of $21.11, for a total transaction of $126,660.00. Following the transaction, the vice president owned 17,199 shares of the company’s stock, valued at $363,070.89. This trade represents a 25.86% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Company insiders own 1.60% of the company’s stock.

Hedge Funds Weigh In On Olin

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Envestnet Portfolio Solutions Inc. bought a new stake in shares of Olin in the first quarter valued at about $206,000. Sequoia Financial Advisors LLC bought a new position in shares of Olin during the 1st quarter worth approximately $247,000. Mirae Asset Global Investments Co. Ltd. purchased a new stake in Olin in the 1st quarter valued at $31,000. Deroy & Devereaux Private Investment Counsel Inc. raised its position in Olin by 3.5% in the 1st quarter. Deroy & Devereaux Private Investment Counsel Inc. now owns 57,760 shares of the specialty chemicals company’s stock valued at $1,400,000 after buying an additional 1,960 shares during the last quarter. Finally, M&T Bank Corp raised its position in Olin by 75.4% in the 1st quarter. M&T Bank Corp now owns 14,118 shares of the specialty chemicals company’s stock valued at $342,000 after buying an additional 6,071 shares during the last quarter. 88.67% of the stock is owned by institutional investors.

About Olin

Olin Corporation manufactures and distributes chemical products in the United States, Europe, Asia Pacific, Latin America, and Canada. 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, hydrochloric acid, hydrogen, bleach products, potassium hydroxide, and chlorinated organics intermediates and solvents.