Olin Corporation (NYSE:OLN) Stock Now Rated “Reduce” by Wall Street Brokerages

Olin Corporation (NYSE:OLN) has been given an average rating of “Reduce” by the sixteen research firms that are presently covering the stock, Marketbeat Ratings reports. Three analysts have rated the stock with a sell recommendation, twelve have assigned a hold recommendation and one has assigned a buy recommendation to the company. The average 1 year price objective among brokers that have issued a report on the stock in the last year is $20.43.

OLN has been the subject of several analyst reports. Barclays initiated coverage on shares of Olin in a research note on Monday. They issued an “equal weight” rating and a $18.00 target price for the company. Truist Financial dropped their price target on shares of Olin from $24.00 to $20.00 and set a “hold” rating on the stock in a research report on Monday, August 3rd. Deutsche Bank Aktiengesellschaft cut their price target on shares of Olin from $30.00 to $20.00 and set a “hold” rating for the company in a research note on Tuesday, August 25th. Royal Bank Of Canada decreased their price objective on shares of Olin from $20.00 to $16.00 and set a “sector perform” rating for the company in a research report on Tuesday. Finally, Wall Street Zen downgraded shares of Olin from a “sell” rating to a “strong sell” rating in a research report on Saturday, August 8th.

Institutional Investors Weigh In On Olin

Several hedge funds have recently bought and sold shares of OLN. Rockefeller Capital Management L.P. increased its position in Olin by 115.2% during the fourth quarter. Rockefeller Capital Management L.P. now owns 1,231 shares of the specialty chemicals company’s stock worth $26,000 after buying an additional 659 shares during the last quarter. Sunbelt Securities Inc. bought a new stake in Olin in the first quarter valued at approximately $45,000. Nykredit A S bought a new stake in Olin in the second quarter valued at approximately $59,000. IFP Advisors Inc raised its stake in Olin by 118.9% in the second quarter. IFP Advisors Inc now owns 3,163 shares of the specialty chemicals company’s stock valued at $63,000 after buying an additional 1,718 shares during the period. Finally, Nalls Sherbakoff Group LLC acquired a new stake in shares of Olin in the fourth quarter valued at approximately $66,000. 88.67% of the stock is currently owned by institutional investors and hedge funds.

Olin Stock Up 0.9%

OLN stock opened at $15.01 on Friday. The company has a debt-to-equity ratio of 1.77, a quick ratio of 0.87 and a current ratio of 1.42. The business has a 50 day moving average price of $17.12 and a two-hundred day moving average price of $22.06. Olin has a twelve month low of $14.64 and a twelve month high of $30.46.

Olin (NYSE:OLN) last posted its quarterly earnings results on Thursday, July 30th. The specialty chemicals company reported ($0.12) earnings per share for the quarter, missing the consensus estimate of $0.13 by ($0.25). Olin had a negative return on equity of 4.76% and a negative net margin of 2.08%. The company had revenue of $1.74 billion for the quarter, compared to analyst estimates of $1.81 billion. During the same period last year, the firm earned ($0.01) EPS. The firm’s revenue for the quarter was down .9% compared to the same quarter last year. On average, sell-side analysts predict that Olin will post -0.68 EPS for the current year.

Olin Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, September 11th. Stockholders of record on Thursday, August 27th were issued a $0.20 dividend. This represents a $0.80 dividend on an annualized basis and a dividend yield of 5.3%. The ex-dividend date of this dividend was Thursday, August 27th. Olin’s dividend payout ratio is presently -65.04%.

Olin Company Profile

Olin Corporation is a global manufacturer of chemical products and ammunition. The company operates through its Chlor Alkali Products and Vinyls, Epoxy, and Winchester businesses, serving customers in a range of industrial, commercial, and consumer markets.

Olin’s Chlor Alkali Products and Vinyls business produces chlorine, caustic soda, hydrochloric acid, hydrogen, bleach products, chlorinated organic chemicals, and related materials used in water treatment, construction, pulp and paper, energy, and other manufacturing applications.