Zacks Investment Research lowered shares of Olin (NYSE:OLN) from a hold rating to a sell rating in a report released on Thursday.
According to Zacks, “Earnings estimates for Olin for the fourth quarter and full-year 2018 have been going down lately. Olin is facing certain challenges in its Winchester unit including higher commodity material costs. Moreover, raw material cost inflation and commodity cost headwinds may dent its performance. The company’s high debt level is another concern. Olin has also underperformed the industry it belongs to in a year’s time.”
OLN has been the topic of several other reports. Royal Bank of Canada lowered their price objective on shares of Olin to $22.00 and set a sector perform rating on the stock in a research report on Wednesday, October 31st. TheStreet cut shares of Olin from a b- rating to a c+ rating in a research note on Monday, November 12th. Morgan Stanley set a $38.00 target price on shares of Olin and gave the stock a buy rating in a research note on Wednesday, September 26th. Nomura reduced their target price on shares of Olin from $33.00 to $29.00 and set a neutral rating for the company in a research note on Monday, October 15th. Finally, ValuEngine cut shares of Olin from a sell rating to a strong sell rating in a research note on Tuesday, September 18th. Two analysts have rated the stock with a sell rating, four have given a hold rating and seven have assigned a buy rating to the company. The company currently has a consensus rating of Hold and a consensus price target of $32.00.
Olin (NYSE:OLN) last issued its quarterly earnings data on Monday, October 29th. The specialty chemicals company reported $0.66 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.75 by ($0.09). Olin had a return on equity of 10.70% and a net margin of 11.02%. The business had revenue of $1.87 billion for the quarter, compared to analysts’ expectations of $1.80 billion. During the same period in the previous year, the business posted $0.31 earnings per share. The company’s revenue for the quarter was up 20.4% on a year-over-year basis. As a group, equities analysts expect that Olin will post 1.88 earnings per share for the current year.
In related news, SVP John Maurice Sampson acquired 5,000 shares of Olin stock in a transaction that occurred on Tuesday, November 20th. The stock was purchased at an average price of $19.84 per share, for a total transaction of $99,200.00. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Scott Mcdougald Sutton acquired 15,000 shares of Olin stock in a transaction that occurred on Thursday, November 1st. The stock was bought at an average price of $21.62 per share, with a total value of $324,300.00. Following the purchase, the director now directly owns 15,000 shares of the company’s stock, valued at $324,300. The disclosure for this purchase can be found here. Insiders bought a total of 21,800 shares of company stock valued at $460,844 in the last 90 days. Company insiders own 1.70% of the company’s stock.
Hedge funds and other institutional investors have recently made changes to their positions in the stock. IMS Capital Management acquired a new stake in shares of Olin in the third quarter valued at about $88,000. Baird Financial Group Inc. acquired a new stake in shares of Olin in the second quarter valued at about $204,000. MML Investors Services LLC acquired a new stake in shares of Olin in the third quarter valued at about $210,000. MAI Capital Management acquired a new stake in shares of Olin in the second quarter valued at about $240,000. Finally, Acadian Asset Management LLC acquired a new stake in shares of Olin in the third quarter valued at about $236,000. Hedge funds and other institutional investors own 86.92% of the company’s stock.
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, and potassium hydroxide.
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