Olin Co. (NYSE:OLN) has received an average recommendation of “Hold” from the seventeen research firms that are covering the stock, Marketbeat.com reports. One analyst has rated the stock with a sell recommendation, nine have given a hold recommendation and six have assigned a buy recommendation to the company. The average 12 month target price among brokers that have covered the stock in the last year is $23.77.
OLN has been the topic of a number of recent research reports. Citigroup lowered Olin from a “buy” rating to a “neutral” rating and dropped their target price for the company from $24.00 to $19.00 in a research report on Wednesday, October 9th. Tudor Pickering lowered Olin from a “buy” rating to a “hold” rating in a research report on Monday, November 4th. ValuEngine upgraded Olin from a “hold” rating to a “buy” rating in a research report on Thursday, October 10th. Bank of America lowered their price objective on Olin from $23.00 to $22.00 and set a “buy” rating on the stock in a research report on Monday, November 4th. Finally, Morgan Stanley lowered Olin from an “overweight” rating to an “equal weight” rating and lowered their price objective for the stock from $33.00 to $23.00 in a research report on Friday, July 19th.
In other Olin news, Director Heidi S. Alderman bought 2,000 shares of the firm’s stock in a transaction dated Wednesday, August 21st. The shares were purchased at an average price of $16.69 per share, for a total transaction of $33,380.00. Following the transaction, the director now directly owns 2,000 shares of the company’s stock, valued at approximately $33,380. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Scott Mcdougald Sutton bought 15,000 shares of the firm’s 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 transaction, the director now directly owns 39,500 shares in the company, valued at $618,570. The disclosure for this purchase can be found here. Corporate insiders own 1.90% of the company’s stock.
Several large investors have recently made changes to their positions in the company. Crossmark Global Holdings Inc. lifted its position in shares of Olin by 2.4% during the 2nd quarter. Crossmark Global Holdings Inc. now owns 23,220 shares of the specialty chemicals company’s stock valued at $509,000 after buying an additional 545 shares in the last quarter. Magnus Financial Group LLC raised its stake in Olin by 5.4% in the 2nd quarter. Magnus Financial Group LLC now owns 10,923 shares of the specialty chemicals company’s stock valued at $239,000 after purchasing an additional 555 shares during the last quarter. Advisory Services Network LLC raised its stake in Olin by 59.1% in the 2nd quarter. Advisory Services Network LLC now owns 2,053 shares of the specialty chemicals company’s stock valued at $45,000 after purchasing an additional 763 shares during the last quarter. US Bancorp DE raised its stake in Olin by 6.7% in the 2nd quarter. US Bancorp DE now owns 12,983 shares of the specialty chemicals company’s stock valued at $285,000 after purchasing an additional 817 shares during the last quarter. Finally, Fruth Investment Management raised its stake in Olin by 1.7% in the 3rd quarter. Fruth Investment Management now owns 63,950 shares of the specialty chemicals company’s stock valued at $1,197,000 after purchasing an additional 1,050 shares during the last quarter. Hedge funds and other institutional investors own 91.22% of the company’s stock.
NYSE OLN traded down $0.03 during trading hours on Monday, reaching $19.32. The stock had a trading volume of 1,886,644 shares, compared to its average volume of 2,426,995. The stock has a fifty day moving average of $18.52 and a 200 day moving average of $19.76. The stock has a market cap of $3.09 billion, a P/E ratio of 11.04, a price-to-earnings-growth ratio of 2.00 and a beta of 1.59. Olin has a 52-week low of $15.38 and a 52-week high of $27.32. The company has a debt-to-equity ratio of 1.25, a quick ratio of 0.99 and a current ratio of 1.64.
The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 10th. Shareholders of record on Tuesday, November 12th will be given a $0.20 dividend. The ex-dividend date is Friday, November 8th. This represents a $0.80 annualized dividend and a yield of 4.14%. Olin’s dividend payout ratio is presently 45.71%.
Olin Company Profile
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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