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

Shares of Olin Co. (NYSE:OLN) have been assigned an average rating of “Hold” from the fourteen analysts that are currently covering the company, MarketBeat.com reports. Two analysts have rated the stock with a sell recommendation, seven have issued a hold recommendation and five have given a buy recommendation to the company. The average 12 month target price among brokerages that have issued ratings on the stock in the last year is $56.27.

A number of brokerages have recently issued reports on OLN. Deutsche Bank Aktiengesellschaft began coverage on Olin in a research note on Thursday, December 7th. They set a “hold” rating and a $52.00 price objective on the stock. Royal Bank of Canada increased their price target on Olin from $58.00 to $64.00 and gave the company an “outperform” rating in a research note on Monday, January 29th. Barclays increased their price target on Olin from $49.00 to $57.00 and gave the company an “equal weight” rating in a research note on Monday, January 29th. UBS Group increased their price target on Olin from $56.00 to $58.00 and gave the company a “neutral” rating in a research note on Friday, January 26th. Finally, Stifel Nicolaus increased their price target on Olin from $65.00 to $66.00 and gave the company a “buy” rating in a research note on Monday, January 29th.

Olin Trading Up 0.9 %

NYSE:OLN opened at $58.80 on Friday. Olin has a twelve month low of $41.71 and a twelve month high of $59.95. The company has a market cap of $7.03 billion, a P/E ratio of 16.61, a price-to-earnings-growth ratio of 0.31 and a beta of 1.43. The company has a quick ratio of 0.73, a current ratio of 1.29 and a debt-to-equity ratio of 1.14. The business has a 50 day moving average price of $53.97 and a two-hundred day moving average price of $50.55.

Olin (NYSE:OLN) last announced its quarterly earnings data on Thursday, January 25th. The specialty chemicals company reported $0.30 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.20 by $0.10. Olin had a return on equity of 18.44% and a net margin of 6.74%. The company had revenue of $1.61 billion for the quarter, compared to analysts’ expectations of $1.50 billion. As a group, analysts expect that Olin will post 3.75 EPS for the current fiscal year.

Olin Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, March 15th. Shareholders of record on Thursday, March 7th were issued a $0.20 dividend. This represents a $0.80 dividend on an annualized basis and a yield of 1.36%. The ex-dividend date was Wednesday, March 6th. Olin’s dividend payout ratio is 22.60%.

Insider Buying and Selling at Olin

In other news, CEO Scott Mcdougald Sutton sold 539,328 shares of the stock in a transaction on Tuesday, January 30th. The stock was sold at an average price of $53.96, for a total transaction of $29,102,138.88. Following the sale, the chief executive officer now directly owns 47,620 shares of the company’s stock, valued at approximately $2,569,575.20. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. In related news, CFO Todd A. Slater sold 63,250 shares of the firm’s stock in a transaction dated Tuesday, January 30th. The stock was sold at an average price of $54.15, for a total value of $3,424,987.50. Following the sale, the chief financial officer now directly owns 137,517 shares of the company’s stock, valued at $7,446,545.55. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Scott Mcdougald Sutton sold 539,328 shares of the firm’s stock in a transaction dated Tuesday, January 30th. The shares were sold at an average price of $53.96, for a total value of $29,102,138.88. Following the completion of the sale, the chief executive officer now directly owns 47,620 shares in the company, valued at $2,569,575.20. The disclosure for this sale can be found here. Insiders have sold a total of 753,274 shares of company stock valued at $40,434,124 in the last ninety days. 1.60% of the stock is currently owned by corporate insiders.

Institutional Trading of Olin

Large investors have recently bought and sold shares of the business. Baystate Wealth Management LLC boosted its stake in Olin by 154.6% in the third quarter. Baystate Wealth Management LLC now owns 494 shares of the specialty chemicals company’s stock valued at $25,000 after buying an additional 300 shares in the last quarter. Salem Investment Counselors Inc. acquired a new stake in Olin in the first quarter valued at about $26,000. Covestor Ltd raised its position in Olin by 76.7% in the third quarter. Covestor Ltd now owns 659 shares of the specialty chemicals company’s stock valued at $33,000 after purchasing an additional 286 shares during the last quarter. Sandy Spring Bank raised its position in Olin by 145.6% in the fourth quarter. Sandy Spring Bank now owns 614 shares of the specialty chemicals company’s stock valued at $33,000 after purchasing an additional 364 shares during the last quarter. Finally, Quarry LP raised its position in Olin by 508.6% in the first quarter. Quarry LP now owns 706 shares of the specialty chemicals company’s stock valued at $39,000 after purchasing an additional 590 shares during the last quarter. 88.67% of the stock is owned by institutional investors and hedge funds.

Olin Company Profile

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.