Olin (NYSE:OLN) Stock Price Up 7% – Time to Buy?

Olin Corporation (NYSE:OLN) shares shot up 7% on Friday . The stock traded as high as $19.45 and last traded at $19.7610. 449,005 shares traded hands during trading, a decline of 80% from the average session volume of 2,239,292 shares. The stock had previously closed at $18.46.

Analyst Ratings Changes

OLN has been the subject of several recent research reports. Wall Street Zen raised shares of Olin from a “sell” rating to a “hold” rating in a research report on Saturday, August 2nd. Truist Financial decreased their price objective on Olin from $22.00 to $21.00 and set a “hold” rating for the company in a report on Tuesday, October 28th. Mizuho set a $26.00 target price on Olin in a report on Friday, October 3rd. UBS Group cut their target price on Olin from $24.00 to $22.00 and set a “neutral” rating on the stock in a research report on Wednesday, October 29th. Finally, Citigroup restated a “neutral” rating on shares of Olin in a research note on Wednesday, October 29th. One investment analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating, eleven have assigned a Hold rating and two have assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Hold” and an average price target of $25.00.

Olin Price Performance

The stock has a market cap of $2.27 billion, a P/E ratio of 43.30, a P/E/G ratio of 6.18 and a beta of 1.79. The company has a debt-to-equity ratio of 1.49, a quick ratio of 0.89 and a current ratio of 1.56. The business has a 50 day simple moving average of $22.71 and a 200-day simple moving average of $21.69.

Olin (NYSE:OLN) last posted its quarterly earnings results on Monday, October 27th. The specialty chemicals company reported $0.40 earnings per share for the quarter, beating the consensus estimate of $0.09 by $0.31. Olin had a net margin of 0.79% and a return on equity of 3.36%. The company had revenue of $1.71 billion during the quarter, compared to analyst estimates of $1.74 billion. During the same quarter in the prior year, the business earned ($0.21) earnings per share. The firm’s revenue for the quarter was up 7.8% on a year-over-year basis. On average, sell-side analysts forecast that Olin Corporation will post 1.38 EPS for the current year.

Olin Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, December 12th. Investors of record on Friday, November 28th will be paid a $0.20 dividend. The ex-dividend date is Friday, November 28th. This represents a $0.80 annualized dividend and a yield of 4.0%. Olin’s dividend payout ratio is presently 173.91%.

Institutional Trading of Olin

Hedge funds have recently made changes to their positions in the company. Evelyn Partners Investment Management LLP grew its stake in shares of Olin by 6,360.0% during the 2nd quarter. Evelyn Partners Investment Management LLP now owns 1,615 shares of the specialty chemicals company’s stock worth $32,000 after acquiring an additional 1,590 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. bought a new position in Olin during the first quarter worth about $32,000. Bessemer Group Inc. boosted its position in Olin by 712.7% during the third quarter. Bessemer Group Inc. now owns 1,341 shares of the specialty chemicals company’s stock worth $34,000 after purchasing an additional 1,176 shares during the period. UMB Bank n.a. increased its stake in shares of Olin by 134.9% in the second quarter. UMB Bank n.a. now owns 1,736 shares of the specialty chemicals company’s stock worth $35,000 after purchasing an additional 997 shares in the last quarter. Finally, Quarry LP bought a new stake in shares of Olin in the first quarter valued at approximately $45,000. 88.67% of the stock is currently 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.