Olin Corporation (NYSE:OLN) Releases Quarterly Earnings Results, Misses Expectations By $0.15 EPS

Olin Corporation (NYSE:OLN) posted its earnings results on Monday, July 31st. The specialty chemicals company reported $0.01 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.16 by $0.15, Morningstar.com reports. The business had revenue of $1.53 billion for the quarter, compared to analyst estimates of $1.51 billion. Olin Corporation had a return on equity of 5.80% and a net margin of 0.72%. Olin Corporation’s revenue was up 11.9% compared to the same quarter last year. During the same period last year, the business earned $0.24 EPS.

Shares of Olin Corporation (NYSE OLN) opened at 30.02 on Friday. Olin Corporation has a 52 week low of $18.24 and a 52 week high of $33.88. The stock has a 50 day moving average price of $30.43 and a 200-day moving average price of $30.82. The firm has a market capitalization of $4.99 billion, a PE ratio of 116.81 and a beta of 1.43.

The company also recently disclosed a quarterly dividend, which will be paid on Monday, September 11th. Stockholders of record on Thursday, August 10th will be paid a $0.20 dividend. The ex-dividend date is Tuesday, August 8th. This represents a $0.80 dividend on an annualized basis and a dividend yield of 2.66%. Olin Corporation’s payout ratio is presently 320.00%.

In related news, EVP John L. Mcintosh sold 24,000 shares of the stock in a transaction on Thursday, August 3rd. The stock was sold at an average price of $31.54, for a total value of $756,960.00. Following the completion of the sale, the executive vice president now directly owns 84,391 shares in the company, valued at approximately $2,661,692.14. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, VP Stephen C. Curley sold 5,000 shares of the firm’s stock in a transaction dated Tuesday, August 15th. The shares were sold at an average price of $30.34, for a total value of $151,700.00. Following the sale, the vice president now owns 23,837 shares of the company’s stock, valued at $723,214.58. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 45,070 shares of company stock valued at $1,407,151. Insiders own 2.90% of the company’s stock.

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Bollard Group LLC raised its position in Olin Corporation by 0.6% in the first quarter. Bollard Group LLC now owns 3,180 shares of the specialty chemicals company’s stock worth $105,000 after buying an additional 19 shares in the last quarter. OLD Mutual Customised Solutions Proprietary Ltd. purchased a new position in Olin Corporation during the first quarter worth approximately $118,000. Acrospire Investment Management LLC raised its position in Olin Corporation by 238.5% in the second quarter. Acrospire Investment Management LLC now owns 4,400 shares of the specialty chemicals company’s stock worth $133,000 after buying an additional 3,100 shares in the last quarter. Meadow Creek Investment Management LLC raised its position in Olin Corporation by 6.9% in the first quarter. Meadow Creek Investment Management LLC now owns 4,464 shares of the specialty chemicals company’s stock worth $147,000 after buying an additional 288 shares in the last quarter. Finally, Creative Planning raised its position in Olin Corporation by 130.8% in the second quarter. Creative Planning now owns 5,050 shares of the specialty chemicals company’s stock worth $153,000 after buying an additional 2,862 shares in the last quarter. Institutional investors and hedge funds own 93.02% of the company’s stock.

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Several equities research analysts have issued reports on OLN shares. Royal Bank Of Canada reissued a “buy” rating and set a $35.00 target price on shares of Olin Corporation in a research note on Tuesday, May 16th. Bank of America Corporation started coverage on Olin Corporation in a research note on Monday, May 8th. They set a “buy” rating and a $40.00 target price for the company. Cowen and Company reissued an “outperform” rating and set a $39.00 target price (up previously from $37.00) on shares of Olin Corporation in a research note on Thursday, June 22nd. Tudor Pickering started coverage on Olin Corporation in a research note on Friday, May 12th. They set a “buy” rating and a $37.00 target price for the company. Finally, BidaskClub raised Olin Corporation from a “sell” rating to a “hold” rating in a research note on Wednesday. Five investment analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. The company currently has an average rating of “Hold” and an average price target of $32.75.

About Olin Corporation

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, hydrochloric acid, hydrogen, bleach products and potassium hydroxide.

Earnings History for Olin Corporation (NYSE:OLN)

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