Olin (NYSE:OLN) Announces Earnings Results

Key Points

• Olin Corporation reported an earnings per share (EPS) of $0.05, which missed the consensus estimate of $0.09 by $0.04, reflecting a net margin of 0.94% and a return on equity of 3.13%.
• The company declared a quarterly dividend of $0.20 per share, resulting in an annualized yield of 3.84% despite a high dividend payout ratio of 156.86%.
• Olin's stock is currently rated as a "Hold" by most analysts, with a consensus price target of $27.33, amidst various adjustments from brokerages regarding its price outlook.

Olin (NYSE:OLN - Get Free Report) announced its quarterly earnings results on Monday. The specialty chemicals company reported $0.05 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.09 by ($0.04), Zacks reports. Olin had a net margin of 0.94% and a return on equity of 3.13%.

Olin Stock Performance

OLN stock traded down $0.44 during mid-day trading on Monday, hitting $20.82. 2,744,677 shares of the company were exchanged, compared to its average volume of 1,967,248. Olin has a 1-year low of $17.66 and a 1-year high of $49.60. The stock has a market capitalization of $2.40 billion, a PE ratio of 40.82 and a beta of 1.52. The business has a 50 day simple moving average of $20.61 and a 200-day simple moving average of $23.65. The company has a current ratio of 1.56, a quick ratio of 0.96 and a debt-to-equity ratio of 1.48.

Olin Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, June 13th. Shareholders of record on Thursday, May 15th were given a dividend of $0.20 per share. The ex-dividend date of this dividend was Thursday, May 15th. This represents a $0.80 dividend on an annualized basis and a yield of 3.84%. Olin's dividend payout ratio (DPR) is 156.86%.

Institutional Investors Weigh In On Olin

Institutional investors have recently modified their holdings of the business. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. bought a new stake in shares of Olin during the 1st quarter worth approximately $32,000. Jones Financial Companies Lllp lifted its stake in Olin by 467.9% during the first quarter. Jones Financial Companies Lllp now owns 13,805 shares of the specialty chemicals company's stock worth $335,000 after purchasing an additional 11,374 shares during the last quarter. Royal Bank of Canada increased its stake in shares of Olin by 20.2% in the 1st quarter. Royal Bank of Canada now owns 85,198 shares of the specialty chemicals company's stock valued at $2,066,000 after purchasing an additional 14,344 shares during the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its holdings in shares of Olin by 6.7% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 317,472 shares of the specialty chemicals company's stock worth $7,696,000 after buying an additional 20,047 shares in the last quarter. Finally, Goldman Sachs Group Inc. lifted its position in shares of Olin by 57.6% during the 1st quarter. Goldman Sachs Group Inc. now owns 588,602 shares of the specialty chemicals company's stock worth $14,268,000 after buying an additional 215,235 shares during the last quarter. Institutional investors own 88.67% of the company's stock.

Analysts Set New Price Targets

Several brokerages recently weighed in on OLN. Wells Fargo & Company increased their target price on Olin from $19.00 to $22.00 and gave the company an "equal weight" rating in a research note on Tuesday, May 6th. Morgan Stanley cut their price target on Olin from $28.00 to $20.00 and set an "underweight" rating on the stock in a research note on Monday, May 12th. Barclays lowered their price target on Olin from $28.00 to $24.00 and set an "equal weight" rating for the company in a research note on Wednesday, May 28th. Truist Financial decreased their price objective on Olin from $25.00 to $24.00 and set a "hold" rating for the company in a research report on Monday, May 5th. Finally, UBS Group increased their target price on Olin from $22.00 to $23.00 and gave the stock a "neutral" rating in a report on Wednesday, July 9th. Two investment analysts have rated the stock with a sell rating, eleven have given a hold rating and three have assigned a buy rating to the company's stock. According to MarketBeat, the stock presently has an average rating of "Hold" and a consensus price target of $27.33.

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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