Olin (OLN) Lifted to Sell at ValuEngine

Olin (NYSE:OLN) was upgraded by equities researchers at ValuEngine from a “strong sell” rating to a “sell” rating in a report issued on Friday, May 10th, ValuEngine reports.

A number of other brokerages also recently issued reports on OLN. Zacks Investment Research downgraded Olin from a “hold” rating to a “sell” rating in a report on Thursday, January 10th. Nomura downgraded Olin from a “neutral” rating to a “reduce” rating and decreased their price target for the company from $23.00 to $22.00 in a report on Wednesday, January 30th. Cowen reissued an “outperform” rating and issued a $32.00 price target on shares of Olin in a report on Wednesday, February 6th. Alembic Global Advisors initiated coverage on Olin in a report on Monday, April 22nd. They issued a “buy” rating and a $32.00 price target for the company. Finally, KeyCorp assumed coverage on Olin in a report on Monday, January 28th. They issued an “overweight” rating and a $30.00 price target for the company. Two analysts have rated the stock with a sell rating, four have given a hold rating and eight have assigned a buy rating to the company. The company currently has an average rating of “Hold” and an average target price of $29.33.

NYSE OLN traded down $0.36 during trading hours on Friday, reaching $21.78. The stock had a trading volume of 3,236,643 shares, compared to its average volume of 2,364,176. The firm has a market cap of $3.50 billion, a P/E ratio of 12.45, a P/E/G ratio of 0.71 and a beta of 1.53. Olin has a 52-week low of $17.87 and a 52-week high of $34.42. The company has a quick ratio of 0.85, a current ratio of 1.48 and a debt-to-equity ratio of 1.08.

Olin (NYSE:OLN) last issued its earnings results on Tuesday, April 30th. The specialty chemicals company reported $0.28 EPS for the quarter, missing the Zacks’ consensus estimate of $0.32 by ($0.04). Olin had a net margin of 5.14% and a return on equity of 11.12%. The firm had revenue of $1.55 billion during the quarter, compared to analysts’ expectations of $1.69 billion. During the same quarter in the prior year, the company earned $0.12 EPS. Olin’s quarterly revenue was down 9.2% on a year-over-year basis. As a group, research analysts expect that Olin will post 1.61 earnings per share for the current year.

In related news, VP Brett A. Flaugher sold 12,500 shares of the stock in a transaction on Friday, February 22nd. The stock was sold at an average price of $26.53, for a total value of $331,625.00. Following the completion of the transaction, the vice president now directly owns 40,629 shares of the company’s stock, valued at approximately $1,077,887.37. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director Scott Mcdougald Sutton acquired 8,000 shares of Olin stock in a transaction that occurred on Wednesday, May 8th. The stock was purchased at an average cost of $20.71 per share, with a total value of $165,680.00. Following the completion of the purchase, the director now owns 30,000 shares in the company, valued at approximately $621,300. The disclosure for this purchase can be found here. Corporate insiders own 1.90% of the company’s stock.

A number of hedge funds and other institutional investors have recently bought and sold shares of the stock. Lavaca Capital LLC purchased a new stake in Olin in the 4th quarter valued at $29,000. JOYN Advisors Inc. grew its holdings in Olin by 743.3% in the 4th quarter. JOYN Advisors Inc. now owns 1,813 shares of the specialty chemicals company’s stock valued at $36,000 after buying an additional 1,598 shares in the last quarter. CWM LLC grew its holdings in Olin by 1,219.7% in the 1st quarter. CWM LLC now owns 1,676 shares of the specialty chemicals company’s stock valued at $39,000 after buying an additional 1,549 shares in the last quarter. Nalls Sherbakoff Group LLC purchased a new stake in Olin in the 4th quarter valued at $50,000. Finally, Rockefeller Capital Management L.P. purchased a new stake in Olin in the 1st quarter valued at $56,000. 87.49% of the stock is owned by hedge funds and other institutional investors.

Olin Company Profile

Olin Corporation manufactures and distributes chemical products in the United States and internationally. 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, trichloroethylene and vinylidene chloride, hydrochloric acid, hydrogen, bleach products, potassium hydroxide, chlorinated organics intermediates and solvents, and sodium hypochlorite.The Epoxy segment provides allyl chloride and epichlorohydrin, as well as acetone, bisphenol, cumene, and phenol for use in resins and other plastic materials, water purification, and pesticides, as well as for the manufacturers of polymers; liquid and solid epoxy resins that are used in adhesives, paints and coatings, composites, and flooring; and differentiated epoxy resins for use in electrical laminates, paints and coatings, wind blades, electronics, and construction, as well as offers additives.

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Analyst Recommendations for Olin (NYSE:OLN)

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