Olin (NYSE:OLN) Upgraded by Fermium Researc to Strong-Buy Rating

Fermium Researc upgraded shares of Olin (NYSE:OLN) to a strong-buy rating in a research note issued to investors on Thursday,Zacks.com reports.

OLN has been the topic of a number of other research reports. Barclays lowered their price target on Olin from $28.00 to $24.00 and set an “equal weight” rating on the stock in a research report on Wednesday, May 28th. UBS Group lowered their price target on Olin from $23.00 to $22.00 and set a “neutral” rating on the stock in a research report on Tuesday, July 29th. Royal Bank Of Canada decreased their target price on Olin from $25.00 to $23.00 and set a “sector perform” rating on the stock in a research report on Thursday, July 3rd. Mizuho decreased their target price on Olin from $24.00 to $23.00 and set a “neutral” rating on the stock in a research report on Tuesday, July 29th. Finally, KeyCorp decreased their target price on Olin from $32.00 to $31.00 and set an “overweight” rating on the stock in a research report on Wednesday, July 30th. One analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating, ten have issued a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and an average price target of $25.57.

Olin Stock Performance

Shares of OLN stock opened at $23.95 on Thursday. The company has a market capitalization of $2.75 billion, a P/E ratio of -199.54 and a beta of 1.61. The business’s 50 day moving average is $22.33 and its two-hundred day moving average is $21.73. The company has a current ratio of 1.48, a quick ratio of 0.88 and a debt-to-equity ratio of 1.50. Olin has a 12-month low of $17.66 and a 12-month high of $49.60.

Olin (NYSE:OLN) last issued its quarterly earnings results on Monday, July 28th. The specialty chemicals company reported $0.05 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.09 by ($0.04). The business had revenue of $1.76 billion for the quarter, compared to analysts’ expectations of $1.68 billion. Olin had a negative return on equity of 0.13% and a negative net margin of 0.21%.The business’s revenue for the quarter was up 7.0% compared to the same quarter last year. During the same quarter in the prior year, the company posted $0.62 EPS. Analysts expect that Olin will post 1.38 EPS for the current fiscal year.

Olin Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, September 12th. Investors of record on Thursday, August 28th were given a dividend of $0.20 per share. The ex-dividend date was Thursday, August 28th. This represents a $0.80 dividend on an annualized basis and a yield of 3.3%. Olin’s dividend payout ratio (DPR) is presently -666.67%.

Insider Buying and Selling

In related news, VP Teresa M. Vermillion sold 6,000 shares of Olin stock in a transaction that occurred on Wednesday, August 13th. The stock was sold at an average price of $21.11, for a total transaction of $126,660.00. Following the transaction, the vice president owned 17,199 shares in the company, valued at approximately $363,070.89. This trade represents a 25.86% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Insiders own 1.60% of the company’s stock.

Hedge Funds Weigh In On Olin

Institutional investors have recently added to or reduced their stakes in the stock. Fifth Third Bancorp lifted its position in Olin by 160.5% during the first quarter. Fifth Third Bancorp now owns 1,206 shares of the specialty chemicals company’s stock worth $29,000 after buying an additional 743 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. purchased a new position in Olin during the first quarter worth approximately $31,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. acquired a new stake in Olin during the first quarter worth $32,000. Evelyn Partners Investment Management LLP increased its stake in Olin by 6,360.0% during the second quarter. Evelyn Partners Investment Management LLP now owns 1,615 shares of the specialty chemicals company’s stock worth $32,000 after acquiring an additional 1,590 shares during the last quarter. Finally, Allworth Financial LP increased its stake in Olin by 188.5% during the first quarter. Allworth Financial LP now owns 1,676 shares of the specialty chemicals company’s stock worth $37,000 after acquiring an additional 1,095 shares during the last quarter. Hedge funds and other 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.