Olin (NYSE:OLN) Reaches New 52-Week High on Analyst Upgrade

Olin Co. (NYSE:OLN)’s stock price reached a new 52-week high on Tuesday after Morgan Stanley raised their price target on the stock from $40.00 to $46.00. Morgan Stanley currently has an equal weight rating on the stock. Olin traded as high as $45.74 and last traded at $45.62, with a volume of 1299516 shares traded. The stock had previously closed at $44.75.

A number of other research firms also recently weighed in on OLN. Royal Bank of Canada increased their price target on shares of Olin from $56.00 to $63.00 and gave the stock an “outperform” rating in a research note on Thursday, April 29th. Barclays increased their price target on shares of Olin from $30.00 to $43.00 and gave the stock an “equal weight” rating in a research note on Thursday, March 18th. JPMorgan Chase & Co. increased their price target on shares of Olin from $49.00 to $51.00 in a research note on Thursday, April 29th. Vertical Research raised shares of Olin from a “hold” rating to a “buy” rating in a research note on Thursday, April 29th. Finally, KeyCorp raised their target price on shares of Olin from $50.00 to $53.00 and gave the company an “overweight” rating in a research note on Thursday, April 29th. One research analyst has rated the stock with a sell rating, four have given a hold rating and nine have issued a buy rating to the stock. Olin presently has an average rating of “Buy” and a consensus price target of $41.14.

A number of institutional investors and hedge funds have recently added to or reduced their stakes in OLN. Evolution Wealth Advisors LLC acquired a new stake in Olin during the 4th quarter valued at $25,000. Rosenberg Matthew Hamilton grew its holdings in Olin by 117.2% during the 1st quarter. Rosenberg Matthew Hamilton now owns 656 shares of the specialty chemicals company’s stock valued at $25,000 after purchasing an additional 354 shares in the last quarter. Charter Oak Capital Management LLC acquired a new stake in Olin during the 4th quarter valued at $35,000. Global Retirement Partners LLC grew its holdings in Olin by 701.4% during the 1st quarter. Global Retirement Partners LLC now owns 1,154 shares of the specialty chemicals company’s stock valued at $44,000 after purchasing an additional 1,010 shares in the last quarter. Finally, CI Investments Inc. acquired a new stake in Olin during the 4th quarter valued at $57,000. 84.70% of the stock is owned by institutional investors and hedge funds.

The stock’s fifty day moving average is $39.86 and its two-hundred day moving average is $28.60. The firm has a market capitalization of $7.26 billion, a price-to-earnings ratio of -7.09, a price-to-earnings-growth ratio of 1.19 and a beta of 1.22. The company has a debt-to-equity ratio of 2.70, a quick ratio of 1.02 and a current ratio of 1.60.

Olin (NYSE:OLN) last announced its quarterly earnings data on Monday, April 26th. The specialty chemicals company reported $1.54 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $1.34 by $0.20. Olin had a negative net margin of 18.47% and a negative return on equity of 9.98%. Sell-side analysts anticipate that Olin Co. will post -2.47 earnings per share for the current year.

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, June 10th. Shareholders of record on Monday, May 10th will be issued a dividend of $0.20 per share. This represents a $0.80 annualized dividend and a yield of 1.75%. The ex-dividend date of this dividend is Friday, May 7th. Olin’s dividend payout ratio is currently 133.33%.

Olin Company Profile (NYSE:OLN)

Olin Corporation manufactures and distributes chemical products in the United States, Europe, 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, hydrochloric acid, hydrogen, bleach products, potassium hydroxide, chlorinated organics intermediates and solvents, and sodium hypochlorite.

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