Olin Corporation (NYSE:OLN) Stock Now Rated "Reduce" by Sell-Side Analysts

Key Points

• Olin received an average “Reduce” rating from 15 analysts: three sell ratings, 11 holds, and one buy. The average 12-month price target is $20.92, though several firms recently lowered their targets.
• Shares opened at $14.90, near the company’s 52-week low of $14.82, and have fallen below both their 50-day and 200-day moving averages.
• Olin missed quarterly earnings and revenue estimates, reporting an adjusted loss of $0.12 per share on $1.74 billion in revenue. The company continues to pay a $0.20 quarterly dividend, representing a 5.4% annualized yield.

Olin Corporation (NYSE:OLN - Get Free Report) has been assigned an average recommendation of "Reduce" from the fifteen research firms that are presently covering the firm, MarketBeat.com reports. Three investment analysts have rated the stock with a sell rating, eleven have given a hold rating and one has issued a buy rating on the company. The average 1 year target price among analysts that have covered the stock in the last year is $20.92.

Several equities analysts have recently weighed in on OLN shares. BMO Capital Markets dropped their price objective on shares of Olin from $30.00 to $25.00 and set a "market perform" rating on the stock in a research report on Monday, July 6th. UBS Group cut their price objective on shares of Olin from $21.00 to $18.00 and set a "neutral" rating for the company in a research report on Monday. Bank of America downgraded Olin from a "buy" rating to an "underperform" rating and decreased their target price for the company from $32.00 to $21.00 in a research report on Tuesday, June 30th. The Goldman Sachs Group set a $18.00 price target on Olin in a report on Wednesday, September 30th. Finally, Citigroup reduced their price target on Olin from $19.00 to $17.00 and set a "neutral" rating for the company in a research note on Wednesday, September 30th.

Olin Trading Down 4.5%

Olin stock opened at $14.90 on Friday. The stock has a 50-day simple moving average of $17.36 and a 200 day simple moving average of $22.36. The stock has a market capitalization of $1.70 billion, a P/E ratio of -12.12 and a beta of 1.23. The company has a debt-to-equity ratio of 1.77, a quick ratio of 0.87 and a current ratio of 1.42. Olin has a 52 week low of $14.82 and a 52 week high of $30.46.

Olin (NYSE:OLN - Get Free Report) last released its quarterly earnings data on Thursday, July 30th. The specialty chemicals company reported ($0.12) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.13 by ($0.25). The business had revenue of $1.74 billion during the quarter, compared to analyst estimates of $1.81 billion. Olin had a negative net margin of 2.08% and a negative return on equity of 4.76%. The business's quarterly revenue was down .9% on a year-over-year basis. During the same period in the previous year, the business earned ($0.01) earnings per share. Analysts expect that Olin will post -0.68 earnings per share 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 dividend of $0.20 per share. The ex-dividend date of this dividend was Thursday, August 27th. This represents a $0.80 dividend on an annualized basis and a dividend yield of 5.4%. Olin's dividend payout ratio (DPR) is currently -65.04%.

Institutional Investors Weigh In On Olin

Institutional investors have recently modified their holdings of the business. Amundi increased its holdings in shares of Olin by 337.2% during the first quarter. Amundi now owns 684,036 shares of the specialty chemicals company's stock worth $20,336,000 after purchasing an additional 527,586 shares during the period. Engineers Gate Manager LP boosted its stake in shares of Olin by 1,601.5% in the second quarter. Engineers Gate Manager LP now owns 210,478 shares of the specialty chemicals company's stock valued at $4,172,000 after buying an additional 198,108 shares during the period. WINTON GROUP Ltd acquired a new stake in Olin during the second quarter worth approximately $1,747,000. VIRGINIA RETIREMENT SYSTEMS ET Al acquired a new stake in Olin during the second quarter worth approximately $1,267,000. Finally, Empowered Funds LLC increased its stake in Olin by 1,946.0% during the 1st quarter. Empowered Funds LLC now owns 435,599 shares of the specialty chemicals company's stock worth $12,950,000 after acquiring an additional 414,309 shares during the period. Institutional investors own 88.67% of the company's stock.

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.

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