Olin Co. (NYSE:OLN) – Equities researchers at SunTrust Banks decreased their Q2 2019 earnings per share estimates for Olin in a report released on Wednesday, July 10th, according to Zacks Investment Research. SunTrust Banks analyst J. Sheehan now anticipates that the specialty chemicals company will earn ($0.02) per share for the quarter, down from their prior forecast of $0.09.
OLN has been the topic of a number of other research reports. Royal Bank of Canada reduced their price target on Olin to $19.00 and set a “sector perform” rating on the stock in a research note on Wednesday, July 10th. Alembic Global Advisors assumed coverage on Olin in a research note on Monday, April 22nd. They set a “buy” rating and a $32.00 price target on the stock. Cowen reissued an “outperform” rating and set a $27.00 price target (down previously from $31.00) on shares of Olin in a research note on Monday, May 6th. ValuEngine raised Olin from a “strong sell” rating to a “sell” rating in a research note on Friday, May 10th. Finally, Morgan Stanley lowered Olin from an “overweight” rating to an “equal weight” rating and reduced their price target for the stock from $33.00 to $23.00 in a research note on Friday, July 19th. Two research analysts have rated the stock with a sell rating, five have assigned a hold rating and six have given a buy rating to the stock. The company currently has a consensus rating of “Hold” and an average target price of $26.73.
OLN stock traded down $0.64 on Friday, reaching $18.46. The company had a trading volume of 2,733,861 shares, compared to its average volume of 2,083,677. Olin has a 1 year low of $17.87 and a 1 year high of $32.00. The company has a current ratio of 1.64, a quick ratio of 0.85 and a debt-to-equity ratio of 1.17. The firm’s fifty day moving average price is $21.31. The company has a market capitalization of $3.15 billion, a P/E ratio of 10.55, a P/E/G ratio of 0.80 and a beta of 1.54.
Olin (NYSE:OLN) last posted its earnings results on Wednesday, July 31st. The specialty chemicals company reported ($0.01) earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of ($0.01). Olin had a return on equity of 7.82% and a net margin of 4.06%. The firm had revenue of $1.59 billion for the quarter, compared to analyst estimates of $1.55 billion. During the same quarter in the prior year, the company earned $0.35 EPS. Olin’s revenue was down 7.8% on a year-over-year basis.
The firm also recently declared a quarterly dividend, which will be paid on Tuesday, September 10th. Shareholders of record on Friday, August 9th will be paid a dividend of $0.20 per share. This represents a $0.80 dividend on an annualized basis and a dividend yield of 4.33%. The ex-dividend date of this dividend is Thursday, August 8th. Olin’s dividend payout ratio is presently 45.71%.
In other news, Director Scott Mcdougald Sutton acquired 8,000 shares of the company’s stock in a transaction dated Wednesday, May 8th. The stock was acquired at an average cost of $20.71 per share, for a total transaction of $165,680.00. Following the acquisition, the director now directly owns 30,000 shares in the company, valued at approximately $621,300. The purchase was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, EVP John L. Mcintosh sold 19,335 shares of the company’s stock in a transaction on Wednesday, May 22nd. The stock was sold at an average price of $22.54, for a total value of $435,810.90. Following the sale, the executive vice president now owns 81,477 shares of the company’s stock, valued at $1,836,491.58. The disclosure for this sale can be found here. Corporate insiders own 1.90% of the company’s stock.
Several hedge funds have recently added to or reduced their stakes in OLN. Bell Rock Capital LLC acquired a new stake in Olin in the 2nd quarter valued at $35,000. Steward Partners Investment Advisory LLC acquired a new stake in Olin in the 2nd quarter valued at $35,000. CWM LLC increased its holdings in Olin by 1,219.7% in the 1st quarter. CWM LLC now owns 1,676 shares of the specialty chemicals company’s stock valued at $39,000 after purchasing an additional 1,549 shares in the last quarter. Advisory Services Network LLC increased its holdings 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 in the last quarter. Finally, Nalls Sherbakoff Group LLC acquired a new stake in Olin in the 4th quarter valued at $50,000. Institutional investors and hedge funds own 91.87% of the company’s stock.
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.
