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

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

Olin Stock Down 0.4%

Shares of NYSE OLN traded down $0.08 during mid-day trading 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 company has a market capitalization of $2.52 billion, a PE ratio of -19.74 and a beta of 1.21. The business’s 50-day simple moving average is $22.87 and its 200 day simple moving average is $24.79. Olin has a 1-year low of $18.08 and a 1-year high of $30.46. The company has a debt-to-equity ratio of 1.73, a current ratio of 1.36 and a quick ratio of 0.82.

Analyst Ratings Changes

A number of brokerages have issued reports on OLN. UBS Group boosted their target price on Olin from $29.00 to $31.00 and gave the company a “neutral” rating in a research report on Wednesday, May 13th. BMO Capital Markets cut their price objective on Olin from $30.00 to $25.00 and set a “market perform” rating on the stock in a report on Monday, July 6th. Wells Fargo & Company reissued an “overweight” rating and set a $37.00 target price on shares of Olin in a research note on Sunday, May 10th. Wall Street Zen cut Olin from a “hold” rating to a “sell” rating in a report on Saturday, June 27th. Finally, Royal Bank Of Canada set a $30.00 target price on Olin and gave the company a “sector perform” rating in a research report on Friday, April 10th. One analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating, nine have issued a Hold rating and four have issued a Sell rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price of $26.46.

Institutional Investors Weigh In On Olin

Several large investors have recently bought and sold shares of OLN. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. purchased a new position in shares of Olin in the 1st quarter valued at about $32,000. UMB Bank n.a. increased its stake 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 worth $54,000 after buying an additional 659 shares during the period. NewEdge Advisors LLC increased its stake 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 worth $58,000 after buying an additional 721 shares during the period. Headlands Technologies LLC increased its stake 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 worth $88,000 after buying an additional 1,775 shares during the period. Finally, Tower Research Capital LLC TRC raised its holdings in Olin by 20.5% in 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. Hedge funds and other institutional investors own 88.67% of the company’s stock.

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.