Wall Street Zen Upgrades Olin (NYSE:OLN) to Hold

Olin (NYSE:OLN) was upgraded by stock analysts at Wall Street Zen from a “sell” rating to a “hold” rating in a note issued to investors on Saturday.

Other research analysts have also recently issued reports about the company. Weiss Ratings restated a “sell (d+)” rating on shares of Olin in a research note on Thursday, January 22nd. Truist Financial reduced their price objective on Olin from $23.00 to $20.00 and set a “hold” rating for the company in a research note on Monday, February 2nd. Deutsche Bank Aktiengesellschaft restated a “hold” rating and issued a $26.00 price objective on shares of Olin in a research note on Tuesday, February 10th. BMO Capital Markets reduced their price objective on Olin from $25.00 to $24.00 and set a “market perform” rating for the company in a research note on Tuesday, February 3rd. Finally, Wells Fargo & Company upgraded Olin from an “equal weight” rating to an “overweight” rating and raised their price objective for the stock from $25.00 to $35.00 in a research note on Monday, April 6th. One analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating, ten have assigned a Hold rating and three have issued a Sell rating to the company. According to data from MarketBeat.com, Olin presently has a consensus rating of “Hold” and a consensus target price of $25.64.

Olin Trading Up 0.0%

Olin stock opened at $28.96 on Friday. The stock has a 50-day moving average of $25.81 and a two-hundred day moving average of $23.32. The company has a debt-to-equity ratio of 1.45, a quick ratio of 0.73 and a current ratio of 1.21. Olin has a one year low of $18.08 and a one year high of $30.46. The stock has a market cap of $3.30 billion, a PE ratio of -76.21 and a beta of 1.37.

Olin (NYSE:OLN) last released its quarterly earnings results on Thursday, January 29th. The specialty chemicals company reported ($0.58) EPS for the quarter, meeting analysts’ consensus estimates of ($0.58). Olin had a negative return on equity of 0.48% and a negative net margin of 0.63%.The company had revenue of $1.67 billion during the quarter, compared to analysts’ expectations of $1.61 billion. During the same period last year, the business posted $0.09 earnings per share. The firm’s revenue was down .4% compared to the same quarter last year. On average, research analysts anticipate that Olin will post 1.38 EPS for the current fiscal year.

Insider Activity at Olin

In related news, VP Angela M. Castle sold 2,379 shares of Olin stock in a transaction that occurred on Tuesday, February 24th. The stock was sold at an average price of $24.25, for a total transaction of $57,690.75. Following the completion of the transaction, the vice president directly owned 1,528 shares in the company, valued at approximately $37,054. This trade represents a 60.89% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, VP R Nichole Sumner sold 4,750 shares of Olin stock in a transaction that occurred on Tuesday, February 3rd. The shares were sold at an average price of $22.49, for a total value of $106,827.50. Following the transaction, the vice president owned 24,771 shares of the company’s stock, valued at approximately $557,099.79. This represents a 16.09% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last ninety days, insiders sold 99,379 shares of company stock worth $2,238,298. 1.60% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of OLN. Orbis Allan Gray Ltd raised its position in Olin by 448.9% during the fourth quarter. Orbis Allan Gray Ltd now owns 3,804,561 shares of the specialty chemicals company’s stock valued at $79,249,000 after acquiring an additional 3,111,393 shares in the last quarter. Millennium Management LLC raised its position in Olin by 1,063.0% during the third quarter. Millennium Management LLC now owns 2,486,702 shares of the specialty chemicals company’s stock valued at $62,143,000 after acquiring an additional 2,272,877 shares in the last quarter. Semper Augustus Investments Group LLC raised its position in Olin by 141.3% during the third quarter. Semper Augustus Investments Group LLC now owns 1,924,245 shares of the specialty chemicals company’s stock valued at $48,087,000 after acquiring an additional 1,126,809 shares in the last quarter. Amundi purchased a new position in Olin during the third quarter valued at approximately $24,418,000. Finally, AQR Capital Management LLC raised its position in Olin by 80.5% during the third quarter. AQR Capital Management LLC now owns 1,811,533 shares of the specialty chemicals company’s stock valued at $44,564,000 after acquiring an additional 807,846 shares in the last quarter. 88.67% of the stock is currently owned by hedge funds and other institutional investors.

About Olin

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.