Olin Corp. (NYSE:OLN) – Research analysts at SunTrust Banks reduced their Q3 2016 earnings per share (EPS) estimates for shares of Olin Corp. in a report released on Monday. SunTrust Banks analyst J. Freuchtel now expects that the firm will post earnings of $0.35 per share for the quarter, down from their previous estimate of $0.37. SunTrust Banks also issued estimates for Olin Corp.’s Q4 2016 earnings at $0.43 EPS, FY2016 earnings at $1.27 EPS, Q2 2017 earnings at $0.54 EPS, Q3 2017 earnings at $0.67 EPS, Q4 2017 earnings at $0.56 EPS and FY2017 earnings at $2.17 EPS.
A number of other research analysts also recently issued reports on the stock. Royal Bank Of Canada dropped their price target on shares of Olin Corp. from $28.00 to $24.00 and set an “outperform” rating on the stock in a research report on Friday, July 22nd. Longbow Research downgraded shares of Olin Corp. from a “neutral” rating to an “underperform” rating and set a $17.00 price target on the stock. in a research report on Wednesday, September 7th. Zacks Investment Research upgraded shares of Olin Corp. from a “hold” rating to a “strong-buy” rating and set a $23.00 price target on the stock in a research report on Wednesday, October 5th. Cowen and Company upgraded shares of Olin Corp. from a “market perform” rating to an “outperform” rating and boosted their price target for the stock from $18.00 to $31.00 in a research report on Tuesday, June 28th. Finally, RBC Capital Markets reiterated a “buy” rating and issued a $24.00 price objective (down previously from $28.00) on shares of Olin Corp. in a research note on Friday, July 22nd. One analyst has rated the stock with a sell rating, one has given a hold rating, six have issued a buy rating and one has assigned a strong buy rating to the company’s stock. The company has an average rating of “Buy” and an average target price of $22.67.
Shares of Olin Corp. (NYSE:OLN) traded up 0.75% during mid-day trading on Wednesday, reaching $20.23. 361,120 shares of the company’s stock were exchanged. The company’s 50-day moving average price is $20.22 and its 200 day moving average price is $21.36. Olin Corp. has a 52-week low of $12.29 and a 52-week high of $26.46. The company’s market cap is $3.34 billion.
Olin Corp. (NYSE:OLN) last announced its quarterly earnings results on Tuesday, August 2nd. The company reported $0.24 EPS for the quarter, missing analysts’ consensus estimates of $0.31 by $0.07. The firm earned $1.36 billion during the quarter, compared to analyst estimates of $1.47 billion. Olin Corp. had a negative net margin of 2.05% and a positive return on equity of 4.25%. The business’s revenue was up 154.8% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.32 EPS.
A number of hedge funds have recently made changes to their positions in OLN. Pinnacle Holdings LLC raised its stake in shares of Olin Corp. by 0.4% in the second quarter. Pinnacle Holdings LLC now owns 52,425 shares of the company’s stock worth $1,302,000 after buying an additional 190 shares during the period. M&T Bank Corp raised its stake in shares of Olin Corp. by 0.7% in the first quarter. M&T Bank Corp now owns 35,360 shares of the company’s stock worth $614,000 after buying an additional 261 shares during the period. State Treasurer State of Michigan raised its stake in shares of Olin Corp. by 0.6% in the second quarter. State Treasurer State of Michigan now owns 66,311 shares of the company’s stock worth $1,647,000 after buying an additional 400 shares during the period. Capstone Asset Management Co. raised its stake in shares of Olin Corp. by 4.8% in the second quarter. Capstone Asset Management Co. now owns 13,395 shares of the company’s stock worth $333,000 after buying an additional 610 shares during the period. Finally, Amalgamated Bank raised its stake in shares of Olin Corp. by 3.4% in the second quarter. Amalgamated Bank now owns 18,930 shares of the company’s stock worth $391,000 after buying an additional 614 shares during the period. Institutional investors and hedge funds own 92.85% of the company’s stock.
In other Olin Corp. news, EVP John L. Mcintosh sold 10,000 shares of the business’s stock in a transaction on Tuesday, August 23rd. The shares were sold at an average price of $21.59, for a total transaction of $215,900.00. Following the completion of the sale, the executive vice president now owns 60,391 shares in the company, valued at approximately $1,303,841.69. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 2.80% of the company’s stock.
Olin Corp. Company Profile
Olin Corporation is a manufacturer and distributor of chemical products, and ammunition. The Company operates through three segments: Chlor Alkali Products and Vinyls, Epoxy and Winchester. The Chlor Alkali Products and Vinyls segment manufactures and sells chlorine and caustic soda, ethylene dichloride and vinyl chloride monomer, methyl chloride, methylene chloride, chloroform, carbon tetrachloride, perchloroethylene, trichloroethylene and vinylidene chloride, hydrogen, bleach products and potassium hydroxide.
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