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

Shares of Olin Corporation (NYSE:OLN) traded up 7% during mid-day trading on Friday . The company 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 Upgrades and Downgrades

Several equities analysts have recently weighed in on OLN shares. Wells Fargo & Company reduced their price target on Olin from $25.00 to $22.00 and set an “equal weight” rating for the company in a research report on Wednesday, October 29th. KeyCorp lowered their price target on shares of Olin from $30.00 to $29.00 and set an “overweight” rating on the stock in a report on Wednesday, October 29th. Fermium Researc upgraded shares of Olin to a “strong-buy” rating in a research report on Thursday, September 25th. Royal Bank Of Canada set a $26.00 target price on shares of Olin and gave the stock a “sector perform” rating in a report on Tuesday, October 14th. Finally, Bank of America raised their price target on shares of Olin from $25.00 to $30.00 and gave the company a “buy” rating in a report on Tuesday, October 14th. One equities research analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating, eleven have issued a Hold rating and two have assigned a Sell rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus target price of $25.00.

Olin Trading Up 8.0%

The stock’s 50 day simple moving average is $22.71 and its 200 day simple moving average is $21.69. The firm has a market cap of $2.27 billion, a PE ratio of 43.30, a PEG 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.

Olin (NYSE:OLN) last posted its quarterly earnings data on Monday, October 27th. The specialty chemicals company reported $0.40 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates 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 the consensus estimate of $1.74 billion. During the same period in the previous year, the firm posted ($0.21) EPS. The firm’s revenue was up 7.8% compared to the same quarter last year. On average, sell-side analysts forecast that Olin Corporation will post 1.38 earnings per share for the current fiscal year.

Olin Dividend Announcement

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

Institutional Trading of Olin

Hedge funds have recently bought and sold shares of the company. NewEdge Advisors LLC grew its position in Olin by 45.0% during the third quarter. NewEdge Advisors LLC now owns 2,323 shares of the specialty chemicals company’s stock valued at $58,000 after acquiring an additional 721 shares during the last quarter. CANADA LIFE ASSURANCE Co grew its holdings in shares of Olin by 1.9% during the 3rd quarter. CANADA LIFE ASSURANCE Co now owns 70,991 shares of the specialty chemicals company’s stock valued at $1,735,000 after purchasing an additional 1,333 shares during the last quarter. Dark Forest Capital Management LP purchased a new position in Olin in the 3rd quarter worth $1,230,000. Alyeska Investment Group L.P. lifted its stake in Olin by 1.2% in the third quarter. Alyeska Investment Group L.P. now owns 395,366 shares of the specialty chemicals company’s stock worth $9,880,000 after purchasing an additional 4,587 shares during the last quarter. Finally, Voleon Capital Management LP purchased a new stake in Olin during the third quarter valued at about $1,053,000. Institutional investors own 88.67% of the company’s stock.

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.