Olin (NYSE:OLN) Downgraded by Bank of America

Bank of America cut shares of Olin (NYSE:OLN) from a buy rating to a neutral rating in a research report report published on Monday, MarketBeat reports. The brokerage currently has $51.00 price objective on the specialty chemicals company’s stock, down from their prior price objective of $62.00.

Other equities research analysts have also issued reports about the company. JPMorgan Chase & Co. upgraded Olin from a neutral rating to an overweight rating and set a $55.00 price target on the stock in a research report on Monday. Wells Fargo & Company decreased their price objective on Olin from $50.00 to $48.00 and set an equal weight rating on the stock in a research report on Monday. Barclays decreased their price objective on Olin from $59.00 to $49.00 and set an equal weight rating on the stock in a research report on Monday. Citigroup increased their price objective on Olin from $63.00 to $67.00 and gave the company a buy rating in a research report on Wednesday, April 10th. Finally, Royal Bank of Canada reduced their price target on Olin from $61.00 to $52.00 and set an outperform rating on the stock in a research report on Monday. One research analyst has rated the stock with a sell rating, eight have issued a hold rating and six have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of Hold and an average price target of $53.86.

Olin Stock Down 2.5 %

NYSE OLN opened at $44.45 on Monday. The firm has a market cap of $5.22 billion, a PE ratio of 15.99, a price-to-earnings-growth ratio of 0.85 and a beta of 1.44. Olin has a one year low of $41.71 and a one year high of $60.60. The stock’s 50 day simple moving average is $48.86 and its 200 day simple moving average is $52.52. The company has a debt-to-equity ratio of 1.29, a current ratio of 1.43 and a quick ratio of 0.82.

Olin (NYSE:OLN) last released its quarterly earnings results on Thursday, July 25th. The specialty chemicals company reported $0.62 EPS for the quarter, missing analysts’ consensus estimates of $0.70 by ($0.08). The business had revenue of $1.64 billion for the quarter, compared to the consensus estimate of $1.71 billion. Olin had a return on equity of 11.73% and a net margin of 4.26%. The firm’s revenue was down 3.5% on a year-over-year basis. During the same quarter last year, the company earned $1.13 earnings per share. As a group, sell-side analysts forecast that Olin will post 1.87 earnings per share for the current fiscal year.

Olin Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, September 13th. Investors of record on Thursday, August 8th will be paid a $0.20 dividend. The ex-dividend date is Thursday, August 8th. This represents a $0.80 dividend on an annualized basis and a yield of 1.80%. Olin’s dividend payout ratio is 28.78%.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the company. Boston Partners lifted its stake in Olin by 122.8% in the fourth quarter. Boston Partners now owns 5,029,377 shares of the specialty chemicals company’s stock worth $271,152,000 after purchasing an additional 2,772,274 shares during the last quarter. South Dakota Investment Council lifted its stake in shares of Olin by 279.8% in the fourth quarter. South Dakota Investment Council now owns 60,392 shares of the specialty chemicals company’s stock worth $3,258,000 after buying an additional 44,492 shares in the last quarter. BNP Paribas Financial Markets lifted its stake in shares of Olin by 34.6% in the fourth quarter. BNP Paribas Financial Markets now owns 188,973 shares of the specialty chemicals company’s stock worth $10,195,000 after buying an additional 48,625 shares in the last quarter. Dimensional Fund Advisors LP lifted its position in Olin by 3.6% during the fourth quarter. Dimensional Fund Advisors LP now owns 3,635,983 shares of the specialty chemicals company’s stock valued at $196,167,000 after purchasing an additional 126,587 shares during the period. Finally, Campbell & CO Investment Adviser LLC bought a new position in Olin during the fourth quarter valued at approximately $3,350,000. 88.67% of the stock is currently owned by hedge funds and other institutional investors.

Olin Company Profile

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.