Cowen and Company Reaffirms “Outperform” Rating for Olin Corporation (OLN)

Cowen and Company reissued their outperform rating on shares of Olin Corporation (NYSE:OLN) in a report released on Tuesday morning. Cowen and Company currently has a $42.00 price objective on the specialty chemicals company’s stock, up from their prior price objective of $39.00.

Several other research analysts also recently weighed in on the stock. BidaskClub upgraded shares of Olin Corporation from a sell rating to a hold rating in a research note on Wednesday, June 21st. Citigroup Inc. began coverage on shares of Olin Corporation in a report on Wednesday, September 27th. They issued a buy rating and a $39.00 price target on the stock. Royal Bank Of Canada reaffirmed a buy rating and issued a $35.00 price target on shares of Olin Corporation in a report on Tuesday, June 20th. Zacks Investment Research cut shares of Olin Corporation from a hold rating to a strong sell rating in a report on Wednesday, October 4th. Finally, SunTrust Banks, Inc. reaffirmed a buy rating and issued a $44.00 price target (up from $36.00) on shares of Olin Corporation in a report on Monday, October 2nd. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating and six have given a buy rating to the stock. The company currently has an average rating of Hold and an average price target of $36.88.

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

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In related news, VP Stephen C. Curley sold 5,000 shares of the 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 completion of the transaction, the vice president now owns 23,837 shares in the company, valued at approximately $723,214.58. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, EVP John L. Mcintosh sold 24,000 shares of the stock in a transaction dated Thursday, August 3rd. The shares were sold at an average price of $31.54, for a total transaction of $756,960.00. Following the completion of the transaction, the executive vice president now owns 84,391 shares of the company’s stock, valued at approximately $2,661,692.14. The disclosure for this sale can be found here. Insiders sold a total of 45,070 shares of company stock valued at $1,407,151 in the last quarter. 2.90% of the stock is currently owned by insiders.

Institutional investors and hedge funds have recently made changes to their positions in the stock. OLD Mutual Customised Solutions Proprietary Ltd. bought a new position in Olin Corporation in the 1st quarter valued at about $118,000. Acrospire Investment Management LLC boosted its position in shares of Olin Corporation by 238.5% during the 2nd quarter. Acrospire Investment Management LLC now owns 4,400 shares of the specialty chemicals company’s stock valued at $133,000 after purchasing an additional 3,100 shares in the last quarter. Creative Planning boosted its position in shares of Olin Corporation by 130.8% during the 2nd quarter. Creative Planning now owns 5,050 shares of the specialty chemicals company’s stock valued at $153,000 after purchasing an additional 2,862 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank boosted its position in shares of Olin Corporation by 9.7% during the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 6,126 shares of the specialty chemicals company’s stock valued at $185,000 after purchasing an additional 544 shares in the last quarter. Finally, Frontier Wealth Management LLC bought a new position in shares of Olin Corporation during the 2nd quarter valued at about $200,000. Hedge funds and other institutional investors own 92.62% of the company’s stock.

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

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