JPMorgan Chase & Co. lowered shares of Olin (NYSE:OLN) from an overweight rating to a neutral rating in a research report sent to investors on Thursday, BenzingaRatingsTable reports. They currently have $18.00 target price on the specialty chemicals company’s stock, down from their previous target price of $19.00.
OLN has been the topic of a number of other research reports. Wells Fargo & Co started coverage on Olin in a research note on Tuesday, October 15th. They issued a market perform rating and a $21.00 price objective on the stock. ValuEngine raised Olin from a hold rating to a buy rating in a research note on Thursday, October 10th. Bank of America reissued a buy rating and issued a $22.00 price objective (down previously from $29.00) on shares of Olin in a research note on Friday, August 16th. Morgan Stanley downgraded Olin from an overweight rating to an equal weight rating and dropped their price objective for the stock from $33.00 to $23.00 in a research note on Friday, July 19th. Finally, Barclays dropped their price objective on Olin from $22.00 to $21.00 and set an equal weight rating on the stock in a research note on Thursday, October 3rd. One investment analyst has rated the stock with a sell rating, eight have assigned a hold rating and six have given a buy rating to the company. Olin presently has an average rating of Hold and an average target price of $25.00.
OLN opened at $18.20 on Thursday. Olin has a one year low of $15.38 and a one year high of $27.32. The company has a debt-to-equity ratio of 1.17, a quick ratio of 0.98 and a current ratio of 1.64. The stock’s fifty day moving average is $18.11 and its 200-day moving average is $20.35. The company has a market capitalization of $2.96 billion, a PE ratio of 10.40, a P/E/G ratio of 1.61 and a beta of 1.58.
Olin (NYSE:OLN) last posted its quarterly earnings data on Wednesday, July 31st. The specialty chemicals company reported ($0.01) EPS for the quarter, hitting the Zacks’ consensus estimate of ($0.01). Olin had a return on equity of 7.82% and a net margin of 4.06%. The company had revenue of $1.59 billion for the quarter, compared to the consensus estimate of $1.55 billion. During the same quarter in the previous year, the business earned $0.35 EPS. The company’s quarterly revenue was down 7.8% compared to the same quarter last year. On average, equities research analysts forecast that Olin will post 0.95 EPS for the current fiscal year.
In other Olin news, Director Vince J. Smith purchased 5,000 shares of the stock in a transaction dated Monday, August 12th. The shares were acquired at an average price of $17.00 per share, for a total transaction of $85,000.00. Following the completion of the acquisition, the director now owns 37,304 shares of the company’s stock, valued at approximately $634,168. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Scott Mcdougald Sutton purchased 15,000 shares of the stock in a transaction dated Friday, August 23rd. The shares were acquired at an average price of $15.66 per share, for a total transaction of $234,900.00. Following the acquisition, the director now directly owns 39,500 shares of the company’s stock, valued at approximately $618,570. The disclosure for this purchase can be found here. Insiders purchased a total of 23,080 shares of company stock worth $372,710 over the last 90 days. Insiders own 1.90% of the company’s stock.
Hedge funds have recently modified their holdings of the company. Stonebridge Capital Advisors LLC purchased a new position in shares of Olin during the second quarter valued at $33,000. Bell Rock Capital LLC acquired a new position in shares of Olin during the 2nd quarter worth about $35,000. Steward Partners Investment Advisory LLC acquired a new position in shares of Olin during the 2nd quarter worth about $35,000. Advisory Services Network LLC lifted its position in shares of Olin by 59.1% during the 2nd quarter. Advisory Services Network LLC now owns 2,053 shares of the specialty chemicals company’s stock worth $45,000 after purchasing an additional 763 shares during the last quarter. Finally, Cerebellum GP LLC acquired a new position in shares of Olin during the 3rd quarter worth about $46,000. Institutional investors and hedge funds own 90.92% of the company’s stock.
Olin Corporation manufactures and distributes chemical products in the United States 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, trichloroethylene and vinylidene chloride, hydrochloric acid, hydrogen, bleach products, potassium hydroxide, chlorinated organics intermediates and solvents, and sodium hypochlorite.The Epoxy segment provides allyl chloride and epichlorohydrin, as well as acetone, bisphenol, cumene, and phenol for use in resins and other plastic materials, water purification, and pesticides, as well as for the manufacturers of polymers; liquid and solid epoxy resins that are used in adhesives, paints and coatings, composites, and flooring; and differentiated epoxy resins for use in electrical laminates, paints and coatings, wind blades, electronics, and construction, as well as offers additives.
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