Olin (NYSE:OLN) Stock Rating Upgraded by Zacks Research

Key Points

• Zacks Research upgraded Olin from a "strong sell" to a "hold", and other analysts have mixed changes (Wells Fargo moved to "overweight" with a $35 target); the consensus rating is "Hold" with an average target price of $25.64.
• Shares opened at $28.17 and were trading down ~4.3%; Olin has a market cap of about $3.21 billion, a 52-week range of $18.08–$30.46, and a negative trailing P/E.
• Insiders have been sellers recently — the CFO sold 92,250 shares and insiders sold ~99,379 shares in the last 90 days, while institutional investors own roughly 88.7% of the company.

Olin (NYSE:OLN - Get Free Report) was upgraded by Zacks Research from a "strong sell" rating to a "hold" rating in a note issued to investors on Monday,Zacks.com reports.

Other equities research analysts have also issued reports about the stock. Wells Fargo & Company raised shares of Olin from an "equal weight" rating to an "overweight" rating and boosted their target price for the stock from $25.00 to $35.00 in a report on Monday, April 6th. Wall Street Zen raised shares of Olin from a "sell" rating to a "hold" rating in a report on Saturday. Mizuho boosted their target price on shares of Olin from $24.00 to $26.00 and gave the stock a "neutral" rating in a report on Tuesday, March 31st. Weiss Ratings reissued a "sell (d+)" rating on shares of Olin in a report on Thursday, January 22nd. Finally, BMO Capital Markets dropped their price target on shares of Olin from $25.00 to $24.00 and set a "market perform" rating on the stock in a research report on Tuesday, February 3rd. One equities research analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating, eleven have assigned a Hold rating and two have issued a Sell rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of "Hold" and an average target price of $25.64.

Olin Trading Down 4.3%

OLN opened at $28.17 on Monday. Olin has a fifty-two week low of $18.08 and a fifty-two week high of $30.46. The company has a debt-to-equity ratio of 1.45, a current ratio of 1.21 and a quick ratio of 0.73. The firm has a market capitalization of $3.21 billion, a price-to-earnings ratio of -74.13 and a beta of 1.37. The company's 50 day moving average price is $26.06 and its two-hundred day moving average price is $23.40.

Olin (NYSE:OLN - Get Free Report) last posted its earnings results on Thursday, January 29th. The specialty chemicals company reported ($0.58) earnings per share for the quarter, hitting analysts' consensus estimates of ($0.58). Olin had a negative net margin of 0.63% and a negative return on equity of 0.48%. The firm had revenue of $1.67 billion for the quarter, compared to analyst estimates of $1.61 billion. During the same period in the previous year, the firm posted $0.09 EPS. The company's revenue for the quarter was down .4% compared to the same quarter last year. As a group, research analysts predict that Olin will post 1.38 earnings per share for the current year.

Insider Buying and Selling at Olin

In other Olin news, CFO Todd A. Slater sold 92,250 shares of the business's stock in a transaction on Tuesday, February 3rd. The shares were sold at an average price of $22.48, for a total transaction of $2,073,780.00. Following the completion of the sale, the chief financial officer owned 44,291 shares in the company, valued at approximately $995,661.68. The trade was a 67.56% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, VP R Nichole Sumner sold 4,750 shares of the business's stock in a transaction on Tuesday, February 3rd. The shares were sold at an average price of $22.49, for a total transaction of $106,827.50. Following the sale, the vice president owned 24,771 shares of the company's stock, valued at $557,099.79. This trade represents a 16.09% decrease in their position. The SEC filing for this sale provides additional information. In the last 90 days, insiders sold 99,379 shares of company stock worth $2,238,298. 1.60% of the stock is owned by corporate insiders.

Institutional Trading of Olin

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Hotchkis & Wiley Capital Management LLC increased its stake in Olin by 5.5% during the 3rd quarter. Hotchkis & Wiley Capital Management LLC now owns 12,690,488 shares of the specialty chemicals company's stock valued at $317,135,000 after purchasing an additional 661,730 shares in the last quarter. State Street Corp increased its stake in Olin by 1.1% during the 2nd quarter. State Street Corp now owns 4,830,406 shares of the specialty chemicals company's stock valued at $97,043,000 after purchasing an additional 50,309 shares in the last quarter. Dimensional Fund Advisors LP increased its stake in Olin by 3.3% during the 4th quarter. Dimensional Fund Advisors LP now owns 4,596,499 shares of the specialty chemicals company's stock valued at $95,746,000 after purchasing an additional 145,424 shares in the last quarter. Pzena Investment Management LLC increased its stake in Olin by 17.5% during the 4th quarter. Pzena Investment Management LLC now owns 4,507,913 shares of the specialty chemicals company's stock valued at $93,900,000 after purchasing an additional 671,250 shares in the last quarter. Finally, Orbis Allan Gray Ltd increased its stake in Olin by 448.9% during the 4th quarter. Orbis Allan Gray Ltd now owns 3,804,561 shares of the specialty chemicals company's stock valued at $79,249,000 after purchasing an additional 3,111,393 shares in the last quarter. Institutional investors own 88.67% of the company's stock.

Olin Company Profile

Olin Corporation is a diversified manufacturer specializing in chemical products and ammunition. The company's core business activities encompass the production and distribution of chlor-alkali products, epoxy resins and derivatives, and small-caliber ammunition under the Winchester brand. Olin's chemical operations supply chlorine, caustic soda and related co-products to a wide range of end markets, including water treatment, pulp and paper, pharmaceuticals and general industrial applications.

In its Chlor Alkali Products & Vinyls segment, Olin operates multiple manufacturing facilities that produce chlorine and sodium hydroxide, along with vinyl chloride monomer and polyvinyl chloride (PVC) compounds.

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