Olin (NYSE:OLN) Releases Quarterly Earnings Results

by · The Cerbat Gem

Olin (NYSE:OLNGet Free Report) released its quarterly earnings results on Thursday. The specialty chemicals company reported ($0.58) earnings per share for the quarter, meeting analysts’ consensus estimates of ($0.58), Zacks reports. The business had revenue of $1.67 billion for the quarter, compared to analysts’ expectations of $1.61 billion. Olin had a negative net margin of 0.63% and a negative return on equity of 0.47%. The company’s revenue was down .4% compared to the same quarter last year. During the same period last year, the business earned $0.09 EPS.

Olin Trading Down 6.8%

OLN stock opened at $20.82 on Friday. Olin has a 52-week low of $17.66 and a 52-week high of $30.74. The company has a quick ratio of 0.89, a current ratio of 1.56 and a debt-to-equity ratio of 1.49. The firm has a market cap of $2.38 billion, a P/E ratio of -54.79, a PEG ratio of 3.31 and a beta of 1.64. The company’s 50-day simple moving average is $21.72 and its 200-day simple moving average is $22.03.

Olin Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, December 12th. Shareholders of record on Friday, November 28th were given a $0.20 dividend. The ex-dividend date was Friday, November 28th. This represents a $0.80 dividend on an annualized basis and a dividend yield of 3.8%. Olin’s dividend payout ratio is -210.53%.

Insider Transactions at Olin

In other news, VP Teresa M. Vermillion sold 4,500 shares of the business’s stock in a transaction that occurred on Wednesday, November 26th. The stock was sold at an average price of $20.86, for a total value of $93,870.00. Following the completion of the sale, the vice president directly owned 17,199 shares in the company, valued at $358,771.14. The trade was a 20.74% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Corporate insiders own 1.60% of the company’s stock.

Institutional Investors Weigh In On Olin

Several institutional investors and hedge funds have recently added to or reduced their stakes in OLN. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. purchased a new position in Olin during the first quarter valued at $32,000. NewEdge Advisors LLC raised its position in shares of Olin by 45.0% during the 3rd quarter. NewEdge Advisors LLC now owns 2,323 shares of the specialty chemicals company’s stock worth $58,000 after purchasing an additional 721 shares during the last quarter. Headlands Technologies LLC lifted its stake in Olin by 67.6% in the 2nd quarter. Headlands Technologies LLC now owns 4,400 shares of the specialty chemicals company’s stock valued at $88,000 after buying an additional 1,775 shares in the last quarter. Tower Research Capital LLC TRC boosted its holdings in Olin by 20.5% in the 2nd quarter. Tower Research Capital LLC TRC now owns 7,031 shares of the specialty chemicals company’s stock worth $141,000 after buying an additional 1,195 shares during the last quarter. Finally, Northwestern Mutual Wealth Management Co. raised its holdings in shares of Olin by 17.0% during the second quarter. Northwestern Mutual Wealth Management Co. now owns 7,930 shares of the specialty chemicals company’s stock valued at $159,000 after acquiring an additional 1,152 shares during the last quarter. Hedge funds and other institutional investors own 88.67% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts have issued reports on the stock. Citigroup lifted their price target on shares of Olin from $21.00 to $24.00 and gave the stock a “neutral” rating in a report on Tuesday, January 13th. Wall Street Zen downgraded Olin from a “hold” rating to a “sell” rating in a research note on Saturday, January 10th. Bank of America increased their price target on Olin from $25.00 to $30.00 and gave the company a “buy” rating in a research note on Tuesday, October 14th. Royal Bank Of Canada boosted their price target on Olin from $22.00 to $24.00 and gave the stock a “sector perform” rating in a research note on Friday, January 16th. Finally, Wells Fargo & Company dropped their target price on shares of Olin from $25.00 to $22.00 and set an “equal weight” rating on the stock in a research report on Wednesday, October 29th. One analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating, eleven have given a Hold rating and three have given a Sell rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Hold” and an average target price of $24.00.

Check Out Our Latest Report on OLN

Key Headlines Impacting Olin

Here are the key news stories impacting Olin this week:

About Olin

(Get Free Report)

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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