Olin Corp. (NYSE:OLN) has been given an average recommendation of “Hold” by the ten brokerages that are covering the firm. Two research analysts have rated the stock with a sell rating, one has issued a hold rating and six have assigned a buy rating to the company. The average 1-year price objective among analysts that have updated their coverage on the stock in the last year is $22.00.
Several research analysts recently issued reports on OLN shares. Zacks Investment Research lowered shares of Olin Corp. from a “hold” rating to a “strong sell” rating in a research report on Wednesday, August 3rd. Longbow Research lowered shares of Olin Corp. from a “neutral” rating to an “underperform” rating and set a $17.00 target price for the company. in a research report on Wednesday, September 7th.
Olin Corp. (NYSE:OLN) traded down 0.86% on Monday, hitting $25.47. The stock had a trading volume of 1,217,294 shares. The company’s market cap is $4.21 billion. Olin Corp. has a 52-week low of $12.29 and a 52-week high of $26.46. The stock’s 50-day moving average is $22.58 and its 200-day moving average is $22.13.
Olin Corp. (NYSE:OLN) last released its quarterly earnings results on Tuesday, November 1st. The company reported $0.33 earnings per share for the quarter, hitting the consensus estimate of $0.33. The firm had revenue of $1.45 billion for the quarter, compared to analysts’ expectations of $1.44 billion. Olin Corp. had a negative net margin of 1.49% and a positive return on equity of 5.30%. The business’s quarterly revenue was up 6.5% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.27 earnings per share. Analysts expect that Olin Corp. will post $0.76 earnings per share for the current year.
The firm also recently declared a quarterly dividend, which will be paid on Friday, December 9th. Shareholders of record on Thursday, November 10th will be given a dividend of $0.20 per share. The ex-dividend date is Tuesday, November 8th. This represents a $0.80 annualized dividend and a yield of 3.11%. Olin Corp.’s payout ratio is -160.00%.
In other Olin Corp. news, insider Pat D. Dawson purchased 20,000 shares of the business’s stock in a transaction on Tuesday, November 8th. The stock was acquired at an average cost of $22.54 per share, for a total transaction of $450,800.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Company insiders own 2.80% of the company’s stock.
A number of institutional investors have recently added to or reduced their stakes in OLN. Iridian Asset Management LLC CT bought a new position in Olin Corp. during the second quarter worth about $130,106,000. Adage Capital Partners GP L.L.C. increased its position in Olin Corp. by 37.1% in the third quarter. Adage Capital Partners GP L.L.C. now owns 11,868,508 shares of the company’s stock worth $243,542,000 after buying an additional 3,214,252 shares during the last quarter. First Eagle Investment Management LLC bought a new position in Olin Corp. during the second quarter worth about $70,317,000. FMR LLC increased its position in Olin Corp. by 165.0% in the second quarter. FMR LLC now owns 3,090,553 shares of the company’s stock worth $76,769,000 after buying an additional 1,924,275 shares during the last quarter. Finally, Stelliam Investment Management LP bought a new position in Olin Corp. during the second quarter worth about $38,937,000. 92.85% of the stock is owned by institutional investors.