Olin (NYSE:OLN) Stock Rating Lowered by Citigroup

Olin (NYSE:OLNGet Rating) was downgraded by Citigroup from a “buy” rating to a “neutral” rating in a report issued on Friday, The Fly reports.

OLN has been the subject of several other research reports. Royal Bank of Canada lowered their price target on shares of Olin from $83.00 to $76.00 and set an “outperform” rating for the company in a research report on Wednesday. KeyCorp increased their target price on shares of Olin from $64.00 to $65.00 and gave the company an “overweight” rating in a research report on Tuesday, April 5th. Bank of America decreased their target price on shares of Olin from $81.00 to $72.00 and set a “buy” rating for the company in a research report on Tuesday. Barclays increased their target price on shares of Olin from $57.00 to $65.00 in a research report on Monday, May 2nd. Finally, StockNews.com cut shares of Olin from a “strong-buy” rating to a “buy” rating in a report on Wednesday. Three research analysts have rated the stock with a hold rating and nine have given a buy rating to the stock. According to data from MarketBeat, the company has an average rating of “Buy” and a consensus price target of $73.45.

Shares of OLN opened at $49.29 on Friday. The company has a 50 day moving average price of $60.41 and a 200-day moving average price of $55.24. Olin has a fifty-two week low of $39.90 and a fifty-two week high of $67.25. The stock has a market capitalization of $7.48 billion, a PE ratio of 5.53 and a beta of 1.20. The company has a debt-to-equity ratio of 0.93, a quick ratio of 0.94 and a current ratio of 1.49.

Olin (NYSE:OLNGet Rating) last announced its quarterly earnings results on Thursday, April 28th. The specialty chemicals company reported $2.48 earnings per share for the quarter, topping the consensus estimate of $2.33 by $0.15. Olin had a net margin of 15.30% and a return on equity of 58.94%. The firm had revenue of $2.46 billion during the quarter, compared to analysts’ expectations of $2.35 billion. Equities research analysts forecast that Olin will post 10.06 EPS for the current year.

In related news, Director Scott D. Ferguson sold 2,500,000 shares of the firm’s stock in a transaction on Monday, May 23rd. The shares were sold at an average price of $60.98, for a total transaction of $152,450,000.00. Following the sale, the director now owns 9,465,160 shares in the company, valued at $577,185,456.80. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, Director C Robert Bunch sold 43,293 shares of the firm’s stock in a transaction on Tuesday, May 17th. The shares were sold at an average price of $65.02, for a total transaction of $2,814,910.86. The disclosure for this sale can be found here. Insiders sold 2,595,576 shares of company stock worth $158,624,719 in the last quarter. Company insiders own 9.00% of the company’s stock.

A number of hedge funds have recently added to or reduced their stakes in OLN. Vanguard Group Inc. grew its position in shares of Olin by 3.2% in the first quarter. Vanguard Group Inc. now owns 15,867,281 shares of the specialty chemicals company’s stock valued at $829,542,000 after purchasing an additional 493,052 shares during the period. BlackRock Inc. grew its position in shares of Olin by 3.1% in the first quarter. BlackRock Inc. now owns 15,796,238 shares of the specialty chemicals company’s stock valued at $825,827,000 after purchasing an additional 472,527 shares during the period. State Street Corp grew its position in shares of Olin by 0.6% in the first quarter. State Street Corp now owns 5,581,714 shares of the specialty chemicals company’s stock valued at $291,812,000 after purchasing an additional 31,587 shares during the period. Fuller & Thaler Asset Management Inc. grew its position in shares of Olin by 3.8% in the fourth quarter. Fuller & Thaler Asset Management Inc. now owns 4,669,514 shares of the specialty chemicals company’s stock valued at $268,590,000 after purchasing an additional 170,468 shares during the period. Finally, Invesco Ltd. grew its position in shares of Olin by 37.3% in the fourth quarter. Invesco Ltd. now owns 4,391,847 shares of the specialty chemicals company’s stock valued at $252,618,000 after purchasing an additional 1,193,359 shares during the period. Institutional investors own 81.79% of the company’s stock.

Olin Company Profile (Get Rating)

Olin Corporation manufactures and distributes chemical products in the United States, Europe, 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, hydrochloric acid, hydrogen, bleach products, potassium hydroxide, chlorinated organics intermediates and solvents, and sodium hypochlorite.

Recommended Stories

The Fly logo

Analyst Recommendations for Olin (NYSE:OLN)

Want More Great Investing Ideas?

Receive News & Ratings for Olin Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Olin and related companies with MarketBeat.com's FREE daily email newsletter.