Olin Corporation (NYSE:OLN) Given Consensus Rating of "Hold" by Brokerages

Key Points

• Olin Corporation has received a consensus rating of "Hold" from 15 brokerage firms, with one sell, ten hold, three buy, and one strong buy recommendation.
• The company's recent quarterly earnings showed a miss of earnings per share at $0.05, below the expected $0.09, despite a year-over-year revenue increase of 7% to $1.76 billion.
• Olin announced a quarterly dividend of $0.20 per share, resulting in an annualized rate of $0.80, but the company currently has a negative dividend payout ratio.

Olin Corporation (NYSE:OLN - Get Free Report) has earned an average rating of "Hold" from the fifteen ratings firms that are presently covering the firm, Marketbeat.com reports. One research analyst has rated the stock with a sell recommendation, ten have assigned a hold recommendation, three have assigned a buy recommendation and one has given a strong buy recommendation to the company. The average 1 year price target among brokerages that have issued a report on the stock in the last year is $25.5714.

Several equities analysts have commented on OLN shares. Mizuho decreased their price objective on shares of Olin from $24.00 to $23.00 and set a "neutral" rating on the stock in a report on Tuesday, July 29th. Wall Street Zen upgraded shares of Olin from a "sell" rating to a "hold" rating in a research note on Saturday, August 2nd. Citigroup cut their price objective on shares of Olin from $26.00 to $25.00 and set a "buy" rating for the company in a research report on Tuesday, July 8th. Fermium Researc upgraded Olin to a "strong-buy" rating in a report on Thursday, September 25th. Finally, KeyCorp lowered their target price on Olin from $32.00 to $31.00 and set an "overweight" rating on the stock in a research note on Wednesday, July 30th.

Olin Trading Up 1.9%

Shares of NYSE:OLN opened at $24.41 on Tuesday. Olin has a 52-week low of $17.66 and a 52-week high of $48.80. The company has a debt-to-equity ratio of 1.50, a quick ratio of 0.88 and a current ratio of 1.48. The company has a market capitalization of $2.80 billion, a P/E ratio of -203.38 and a beta of 1.61. The company has a 50-day simple moving average of $22.41 and a 200 day simple moving average of $21.70.

Olin (NYSE:OLN - Get Free Report) last released its quarterly earnings data on Monday, July 28th. The specialty chemicals company reported $0.05 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.09 by ($0.04). Olin had a negative net margin of 0.21% and a negative return on equity of 0.13%. The business had revenue of $1.76 billion during the quarter, compared to the consensus estimate of $1.68 billion. During the same quarter in the prior year, the company earned $0.62 EPS. Olin's quarterly revenue was up 7.0% on a year-over-year basis. Sell-side analysts forecast that Olin will post 1.38 earnings per share for the current year.

Olin Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, September 12th. Stockholders of record on Thursday, August 28th were issued a dividend of $0.20 per share. The ex-dividend date of this dividend was Thursday, August 28th. This represents a $0.80 dividend on an annualized basis and a dividend yield of 3.3%. Olin's dividend payout ratio (DPR) is currently -666.67%.

Insider Activity

In related news, VP Teresa M. Vermillion sold 6,000 shares of the company's stock in a transaction dated Wednesday, August 13th. The shares were sold at an average price of $21.11, for a total value of $126,660.00. Following the transaction, the vice president directly owned 17,199 shares in the company, valued at approximately $363,070.89. This represents a 25.86% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Insiders own 1.70% of the company's stock.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the business. Mirae Asset Global Investments Co. Ltd. acquired a new stake in shares of Olin in the first quarter valued at approximately $31,000. Fifth Third Bancorp increased its stake in Olin by 160.5% during the 1st quarter. Fifth Third Bancorp now owns 1,206 shares of the specialty chemicals company's stock worth $29,000 after acquiring an additional 743 shares during the period. Envestnet Portfolio Solutions Inc. acquired a new position in Olin in the 1st quarter valued at $206,000. Intech Investment Management LLC raised its holdings in Olin by 48.2% in the 1st quarter. Intech Investment Management LLC now owns 90,214 shares of the specialty chemicals company's stock valued at $2,187,000 after acquiring an additional 29,344 shares in the last quarter. Finally, Sequoia Financial Advisors LLC bought a new stake in shares of Olin during the 1st quarter valued at $247,000. Institutional investors and hedge funds own 88.67% of the company's stock.

About Olin

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.

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