Olin (NYSE:OLN) Cut to "Sell" at Wall Street Zen

Olin (NYSE:OLN - Get Free Report) was downgraded by equities researchers at Wall Street Zen from a "hold" rating to a "sell" rating in a research report issued to clients and investors on Friday.

A number of other analysts have also issued reports on the stock. Barclays cut their price target on shares of Olin from $28.00 to $24.00 and set an "equal weight" rating on the stock in a research note on Wednesday, May 28th. Truist Financial dropped their price target on shares of Olin from $25.00 to $24.00 and set a "hold" rating on the stock in a research note on Monday, May 5th. Mizuho set a $23.00 target price on shares of Olin in a research report on Tuesday, April 15th. Citigroup decreased their price target on Olin from $34.00 to $30.00 and set a "buy" rating for the company in a report on Thursday, March 27th. Finally, Wells Fargo & Company raised their target price on Olin from $19.00 to $22.00 and gave the company an "equal weight" rating in a report on Tuesday, May 6th. 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 data from MarketBeat, the company currently has an average rating of "Hold" and a consensus price target of $27.80.

Olin Trading Down 1.8%

NYSE OLN traded down $0.36 during trading hours on Friday, reaching $20.07. The company had a trading volume of 1,730,478 shares, compared to its average volume of 1,686,965. The stock has a 50-day moving average of $20.67 and a 200 day moving average of $25.23. Olin has a 1-year low of $17.66 and a 1-year high of $50.75. The company has a current ratio of 1.56, a quick ratio of 0.96 and a debt-to-equity ratio of 1.48. The stock has a market capitalization of $2.31 billion, a P/E ratio of 39.35 and a beta of 1.54.

Olin (NYSE:OLN - Get Free Report) last posted its earnings results on Thursday, May 1st. The specialty chemicals company reported $0.04 EPS for the quarter, beating analysts' consensus estimates of ($0.10) by $0.14. Olin had a net margin of 0.94% and a return on equity of 3.13%. The company had revenue of $1.64 billion for the quarter, compared to analysts' expectations of $1.58 billion. During the same quarter in the prior year, the company posted $0.40 earnings per share. Olin's revenue for the quarter was up 1.2% compared to the same quarter last year. As a group, research analysts anticipate that Olin will post 1.38 earnings per share for the current fiscal year.

Institutional Trading of Olin

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Hotchkis & Wiley Capital Management LLC grew its holdings in Olin by 11.5% in the 1st quarter. Hotchkis & Wiley Capital Management LLC now owns 12,191,163 shares of the specialty chemicals company's stock valued at $295,514,000 after buying an additional 1,259,795 shares during the period. Vanguard Group Inc. grew its holdings in shares of Olin by 2.1% during the 1st quarter. Vanguard Group Inc. now owns 11,748,584 shares of the specialty chemicals company's stock worth $284,786,000 after purchasing an additional 245,604 shares during the period. Fuller & Thaler Asset Management Inc. grew its holdings in shares of Olin by 40.5% during the 1st quarter. Fuller & Thaler Asset Management Inc. now owns 6,384,744 shares of the specialty chemicals company's stock worth $154,766,000 after purchasing an additional 1,840,900 shares during the period. Dimensional Fund Advisors LP grew its holdings in shares of Olin by 14.3% during the 1st quarter. Dimensional Fund Advisors LP now owns 4,546,352 shares of the specialty chemicals company's stock worth $110,204,000 after purchasing an additional 569,483 shares during the period. Finally, Yacktman Asset Management LP grew its holdings in shares of Olin by 3.1% during the 1st quarter. Yacktman Asset Management LP now owns 4,020,243 shares of the specialty chemicals company's stock worth $97,451,000 after purchasing an additional 122,247 shares during the period. Hedge funds and other institutional investors 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.