Olin Corporation (NYSE:OLN) Receives Average Recommendation of “Hold” from Brokerages

Olin Corporation (NYSE:OLN) has been given an average rating of “Hold” by the sixteen ratings firms that are currently covering the company, Marketbeat.com reports. Three analysts have rated the stock with a sell recommendation, eleven have issued a hold recommendation, one has issued a buy recommendation and one has issued a strong buy recommendation on the company. The average 12-month price objective among brokerages that have covered the stock in the last year is $21.7692.

Several analysts have commented on the company. The Goldman Sachs Group lowered their price target on Olin from $24.00 to $20.00 and set a “neutral” rating for the company in a report on Tuesday, August 4th. Wells Fargo & Company reissued an “equal weight” rating and issued a $20.00 target price (down from $25.00) on shares of Olin in a research report on Monday, August 3rd. Wall Street Zen lowered shares of Olin from a “sell” rating to a “strong sell” rating in a research report on Saturday, August 8th. Deutsche Bank Aktiengesellschaft cut their price target on shares of Olin from $30.00 to $20.00 and set a “hold” rating on the stock in a research note on Tuesday, August 25th. Finally, Truist Financial decreased their price target on shares of Olin from $24.00 to $20.00 and set a “hold” rating on the stock in a report on Monday, August 3rd.

Olin Trading Down 2.0%

Shares of Olin stock opened at $16.50 on Tuesday. Olin has a fifty-two week low of $16.35 and a fifty-two week high of $30.46. The business’s fifty day moving average is $19.07 and its two-hundred day moving average is $23.19. The company has a quick ratio of 0.87, a current ratio of 1.42 and a debt-to-equity ratio of 1.77. The firm has a market cap of $1.88 billion, a PE ratio of -13.41 and a beta of 1.20.

Olin (NYSE:OLN) last announced its quarterly earnings data on Thursday, July 30th. The specialty chemicals company reported ($0.12) EPS for the quarter, missing analysts’ consensus estimates of $0.13 by ($0.25). Olin had a negative net margin of 2.08% and a negative return on equity of 4.76%. The business had revenue of $1.74 billion during the quarter, compared to analysts’ expectations of $1.81 billion. During the same period in the prior year, the firm earned ($0.01) EPS. Olin’s revenue for the quarter was down .9% on a year-over-year basis. Analysts anticipate that Olin will post -0.68 earnings per share for the current year.

Olin Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, September 11th. Investors of record on Thursday, August 27th were given a $0.20 dividend. This represents a $0.80 annualized dividend and a dividend yield of 4.8%. The ex-dividend date of this dividend was Thursday, August 27th. Olin’s dividend payout ratio (DPR) is -65.04%.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Tidal Investments LLC increased its stake in Olin by 16.7% during the second quarter. Tidal Investments LLC now owns 50,158 shares of the specialty chemicals company’s stock worth $994,000 after acquiring an additional 7,175 shares during the last quarter. WINTON GROUP Ltd acquired a new position in shares of Olin in the 2nd quarter valued at about $1,747,000. Engineers Gate Manager LP lifted its stake in shares of Olin by 1,601.5% in the 2nd quarter. Engineers Gate Manager LP now owns 210,478 shares of the specialty chemicals company’s stock valued at $4,172,000 after purchasing an additional 198,108 shares in the last quarter. Integrated Wealth Concepts LLC acquired a new stake in Olin during the 2nd quarter worth approximately $205,000. Finally, IFP Advisors Inc increased its position in Olin by 118.9% during the 2nd quarter. IFP Advisors Inc now owns 3,163 shares of the specialty chemicals company’s stock worth $63,000 after purchasing an additional 1,718 shares in the last quarter. Institutional investors and hedge funds own 88.67% of the company’s stock.

Olin Company Profile

Olin Corporation is a global manufacturer of chemicals and ammunition headquartered in Clayton, Missouri. The company operates through two primary businesses: Chlor Alkali Products and Vinyls and Winchester.

Olin’s Chlor Alkali Products and Vinyls business produces essential chemicals including chlorine, caustic soda, hydrogen, hydrochloric acid, bleach products and related chlorinated compounds. These materials are used in water treatment, pulp and paper, construction, plastics, cleaning products and other industrial applications.