Olin Co. (NYSE:OLN) – Research analysts at SunTrust Banks lowered their Q2 2019 EPS estimates for shares of Olin in a report released on Wednesday, July 10th. SunTrust Banks analyst J. Sheehan now expects that the specialty chemicals company will post earnings of ($0.02) per share for the quarter, down from their prior forecast of $0.09.
Olin (NYSE:OLN) last issued its earnings results on Tuesday, April 30th. The specialty chemicals company reported $0.28 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.32 by ($0.04). The company had revenue of $1.55 billion for the quarter, compared to analyst estimates of $1.69 billion. Olin had a net margin of 5.14% and a return on equity of 11.12%. The company’s quarterly revenue was down 9.2% on a year-over-year basis. During the same period last year, the business earned $0.12 EPS.
OLN has been the topic of a number of other research reports. ValuEngine downgraded shares of Yext from a “strong-buy” rating to a “buy” rating in a report on Friday, May 10th. Nomura downgraded shares of Infosys from a “neutral” rating to a “reduce” rating in a report on Monday, April 15th. Royal Bank of Canada cut their price target on shares of Olin to $19.00 and set a “sector perform” rating on the stock in a report on Wednesday. Alembic Global Advisors set a $95.00 price target on shares of Celanese and gave the company a “sell” rating in a report on Monday, April 22nd. Finally, Cowen restated a “buy” rating and set a $6.50 price target on shares of Daseke in a report on Monday, May 6th. Two analysts have rated the stock with a sell rating, four have assigned a hold rating and eight have issued a buy rating to the company’s stock. Olin has an average rating of “Hold” and an average target price of $29.08.
Olin stock opened at $21.51 on Friday. The company has a market cap of $3.41 billion, a P/E ratio of 12.29, a P/E/G ratio of 0.72 and a beta of 1.54. The firm’s fifty day simple moving average is $21.43. 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 has a 1-year low of $17.87 and a 1-year high of $32.00.
Several large investors have recently bought and sold shares of the company. SG Americas Securities LLC increased its holdings in shares of Olin by 1.8% during the 1st quarter. SG Americas Securities LLC now owns 26,162 shares of the specialty chemicals company’s stock worth $605,000 after purchasing an additional 472 shares during the period. Boston Partners increased its holdings in shares of Olin by 2.4% during the 1st quarter. Boston Partners now owns 23,008 shares of the specialty chemicals company’s stock worth $532,000 after purchasing an additional 543 shares during the period. Crossmark Global Holdings Inc. increased its holdings in shares of Olin by 2.4% during the 2nd quarter. Crossmark Global Holdings Inc. now owns 23,220 shares of the specialty chemicals company’s stock worth $509,000 after purchasing an additional 545 shares during the period. Oakbrook Investments LLC increased its holdings in shares of Olin by 3.5% during the 1st quarter. Oakbrook Investments LLC now owns 17,600 shares of the specialty chemicals company’s stock worth $407,000 after purchasing an additional 600 shares during the period. Finally, CWM LLC increased its holdings in shares of Olin by 1,219.7% during the 1st quarter. CWM LLC now owns 1,676 shares of the specialty chemicals company’s stock worth $39,000 after purchasing an additional 1,549 shares during the period. Institutional investors own 91.78% of the company’s stock.
In related news, Director Scott Mcdougald Sutton acquired 8,000 shares of the company’s stock in a transaction dated Wednesday, May 8th. The shares were bought at an average price of $20.71 per share, for a total transaction of $165,680.00. Following the acquisition, the director now owns 30,000 shares in the company, valued at approximately $621,300. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, EVP John L. Mcintosh sold 10,500 shares of the business’s stock in a transaction dated Thursday, May 16th. The stock was sold at an average price of $21.74, for a total transaction of $228,270.00. Following the transaction, the executive vice president now owns 100,812 shares in the company, valued at approximately $2,191,652.88. The disclosure for this sale can be found here. Company insiders own 1.90% of the company’s stock.
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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