Olin (NYSE:OLN) Stock Price Up 4.4% - What's Next?

Key Points

• Olin shares rose 4.4% to about $16.36, though trading volume was significantly below average. The stock remains below its 200-day moving average of $21.39.
• Analyst sentiment is largely negative: Olin has a consensus rating of “Reduce”, with 12 Holds, three Sells and one Buy, and an average price target of $20.07.
• The company reported a quarterly EPS loss of $0.12, missing estimates by $0.25, while revenue fell 0.9% year over year to $1.74 billion. Olin continues to pay a quarterly dividend of $0.20, representing an annualized yield of approximately 4.9%.

Olin Corporation (NYSE:OLN - Get Free Report) traded up 4.4% during mid-day trading on Monday. The stock traded as high as $16.42 and last traded at $16.3550. Approximately 440,798 shares changed hands during trading, a decline of 86% from the average session volume of 3,120,430 shares. The stock had previously closed at $15.66.

Analyst Ratings Changes

A number of research analysts recently commented on OLN shares. The Goldman Sachs Group set a $18.00 price target on shares of Olin in a report on Wednesday, September 30th. Bank of America cut Olin from a "buy" rating to an "underperform" rating and reduced their price objective for the stock from $32.00 to $21.00 in a research note on Tuesday, June 30th. Wells Fargo & Company decreased their price objective on Olin from $20.00 to $16.00 and set an "equal weight" rating on the stock in a research report on Thursday, October 1st. Mizuho raised their price objective on Olin from $23.00 to $24.00 and gave the company a "neutral" rating in a research note on Friday, July 31st. Finally, UBS Group dropped their target price on Olin from $21.00 to $18.00 and set a "neutral" rating for the company in a report on Monday, October 5th. One research analyst has rated the stock with a Buy rating, twelve have given a Hold rating and three have issued a Sell rating to the company's stock. Based on data from MarketBeat.com, the company currently has a consensus rating of "Reduce" and an average target price of $20.07.

Olin Trading Up 3.9%

The company's 50 day simple moving average is $16.63 and its 200-day simple moving average is $21.39. The firm has a market cap of $1.85 billion, a P/E ratio of -13.24 and a beta of 1.23. The company has a quick ratio of 0.87, a current ratio of 1.42 and a debt-to-equity ratio of 1.77.

Olin (NYSE:OLN - Get Free Report) last released its earnings results on Thursday, July 30th. The specialty chemicals company reported ($0.12) EPS for the quarter, missing analysts' consensus estimates of $0.13 by ($0.25). Olin had a negative net margin of 2.08% and a negative return on equity of 4.76%. The business had revenue of $1.74 billion for the quarter, compared to the consensus estimate of $1.81 billion. During the same period in the prior year, the company posted ($0.01) EPS. The company's quarterly revenue was down .9% compared to the same quarter last year. As a group, research analysts predict that Olin Corporation will post -0.80 earnings per share for the current fiscal year.

Olin Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, September 11th. Shareholders of record on Thursday, August 27th were given a $0.20 dividend. This represents a $0.80 annualized dividend and a yield of 4.9%. The ex-dividend date of this dividend was Thursday, August 27th. Olin's dividend payout ratio is -65.04%.

Institutional Trading of Olin

A number of hedge funds and other institutional investors have recently bought and sold shares of OLN. Dimensional Fund Advisors LP boosted its stake in shares of Olin by 22.4% during the first quarter. Dimensional Fund Advisors LP now owns 5,627,997 shares of the specialty chemicals company's stock valued at $167,311,000 after purchasing an additional 1,031,498 shares during the period. Bank of New York Mellon Corp grew its holdings in shares of Olin by 1.0% in the first quarter. Bank of New York Mellon Corp now owns 1,232,912 shares of the specialty chemicals company's stock worth $36,654,000 after purchasing an additional 12,290 shares during the last quarter. First Trust Advisors LP increased its stake in Olin by 80.8% in the 1st quarter. First Trust Advisors LP now owns 713,041 shares of the specialty chemicals company's stock worth $21,199,000 after buying an additional 318,588 shares during the period. Amundi increased its stake in Olin by 337.2% in the 1st quarter. Amundi now owns 684,036 shares of the specialty chemicals company's stock worth $20,336,000 after buying an additional 527,586 shares during the period. Finally, Segall Bryant & Hamill LLC purchased a new position in Olin in the 1st quarter worth about $14,770,000. Hedge funds and other institutional investors own 88.67% of the company's stock.

Olin Company Profile

Olin Corporation NYSE: OLN is a global manufacturer of chemicals and ammunition. The company operates through three primary businesses: Chlor Alkali Products and Vinyls, Epoxy, and Winchester.

Its Chlor Alkali Products and Vinyls business produces chlorine, caustic soda, hydrochloric acid, bleach products, hydrogen, chlorinated organic chemicals and other related materials used in industrial, water-treatment, construction and consumer applications. Olin's Epoxy business manufactures epoxy resins, intermediates and other specialty materials used in coatings, adhesives, composites, electronics and infrastructure-related applications.

Through its Winchester business, Olin produces and distributes sporting ammunition, reloading components, and small-caliber ammunition for law enforcement and military customers.

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