Olin (NYSE:OLN) Upgraded to Hold at Wall Street Zen

Wall Street Zen upgraded shares of Olin (NYSE:OLN - Free Report) from a sell rating to a hold rating in a research report report published on Saturday.

Several other research analysts also recently commented on the stock. Royal Bank Of Canada decreased their price target on shares of Olin from $28.00 to $25.00 and set a "sector perform" rating on the stock in a research note on Monday, May 5th. Citigroup decreased their price target on shares of Olin from $34.00 to $30.00 and set a "buy" rating on the stock in a research note on Thursday, March 27th. KeyCorp decreased their price target on shares of Olin from $40.00 to $34.00 and set an "overweight" rating on the stock in a research note on Monday, April 14th. JPMorgan Chase & Co. decreased their target price on shares of Olin from $28.00 to $20.00 and set a "neutral" rating on the stock in a research note on Tuesday, May 6th. Finally, The Goldman Sachs Group decreased their target price on shares of Olin from $33.00 to $25.00 and set a "neutral" rating on the stock in a research note on Tuesday, May 6th. One research analyst has rated the stock with a sell rating, twelve have assigned a hold rating and three have issued a buy rating to the company's stock. According to data from MarketBeat, the stock presently has a consensus rating of "Hold" and an average target price of $27.80.

Olin Price Performance

OLN traded down $0.57 on Friday, reaching $19.73. The company had a trading volume of 2,018,666 shares, compared to its average volume of 1,682,409. The company has a market cap of $2.27 billion, a price-to-earnings ratio of 38.69 and a beta of 1.53. Olin has a 52-week low of $17.66 and a 52-week high of $50.75. The business has a 50 day simple moving average of $20.87 and a 200 day simple moving average of $26.68. The company has a debt-to-equity ratio of 1.48, a quick ratio of 0.96 and a current ratio of 1.56.

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

Olin Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, June 13th. Investors of record on Thursday, May 15th were issued a $0.20 dividend. This represents a $0.80 annualized dividend and a yield of 4.05%. The ex-dividend date of this dividend was Thursday, May 15th. Olin's dividend payout ratio (DPR) is currently 156.86%.

Institutional Trading of Olin

Several large investors have recently added to or reduced their stakes in the stock. Covestor Ltd boosted its holdings in Olin by 45.8% in the fourth quarter. Covestor Ltd now owns 1,334 shares of the specialty chemicals company's stock valued at $45,000 after acquiring an additional 419 shares in the last quarter. Connable Office Inc. boosted its holdings in shares of Olin by 9.3% during the 4th quarter. Connable Office Inc. now owns 6,207 shares of the specialty chemicals company's stock valued at $210,000 after buying an additional 527 shares in the last quarter. Vestcor Inc boosted its holdings in shares of Olin by 4.6% during the 1st quarter. Vestcor Inc now owns 12,630 shares of the specialty chemicals company's stock valued at $306,000 after buying an additional 558 shares in the last quarter. Fifth Third Bancorp boosted its holdings in shares of Olin by 160.5% during the 1st quarter. Fifth Third Bancorp now owns 1,206 shares of the specialty chemicals company's stock valued at $29,000 after buying an additional 743 shares in the last quarter. Finally, Xponance Inc. boosted its holdings in shares of Olin by 5.9% during the 4th quarter. Xponance Inc. now owns 13,435 shares of the specialty chemicals company's stock valued at $454,000 after buying an additional 754 shares in the last quarter. 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.