Olin (OLN) Research Coverage Started at Morgan Stanley

Equities researchers at Morgan Stanley initiated coverage on shares of Olin (NYSE:OLN) in a report issued on Tuesday, MarketBeat.com reports. The firm set an “overweight” rating and a $45.00 price target on the specialty chemicals company’s stock. Morgan Stanley’s price target would indicate a potential upside of 18.58% from the company’s current price.

Other equities analysts also recently issued reports about the company. TheStreet raised Olin from a “c+” rating to a “b” rating in a report on Tuesday, October 31st. Vertical Research raised Olin from a “hold” rating to a “buy” rating in a report on Wednesday, January 3rd. Royal Bank of Canada reissued a “buy” rating and issued a $42.00 price objective on shares of Olin in a report on Thursday, December 14th. SunTrust Banks reissued a “buy” rating and issued a $46.00 price objective on shares of Olin in a report on Monday, November 6th. Finally, Citigroup assumed coverage on Olin in a report on Wednesday, September 27th. They issued a “buy” rating and a $39.00 price objective for the company. Five research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. The company presently has an average rating of “Buy” and a consensus target price of $38.78.

Shares of Olin (NYSE:OLN) traded up $0.64 on Tuesday, reaching $37.95. The company had a trading volume of 1,788,311 shares, compared to its average volume of 1,932,964. The company has a debt-to-equity ratio of 1.59, a current ratio of 1.72 and a quick ratio of 1.03. The firm has a market capitalization of $6,310.00, a P/E ratio of 82.50, a price-to-earnings-growth ratio of 1.20 and a beta of 1.39. Olin has a 52-week low of $25.60 and a 52-week high of $38.84.

Olin (NYSE:OLN) last announced its quarterly earnings results on Monday, October 30th. The specialty chemicals company reported $0.31 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.35 by ($0.04). The business had revenue of $1.55 billion during the quarter, compared to analyst estimates of $1.58 billion. Olin had a net margin of 1.29% and a return on equity of 6.05%. The business’s revenue for the quarter was up 7.0% compared to the same quarter last year. During the same period last year, the company earned $0.11 earnings per share. equities research analysts predict that Olin will post 0.93 EPS for the current fiscal year.

In related news, Director C Robert Bunch sold 10,000 shares of the stock in a transaction on Monday, November 6th. The stock was sold at an average price of $36.00, for a total transaction of $360,000.00. Following the completion of the sale, the director now directly owns 3,860 shares of the company’s stock, valued at $138,960. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, SVP John Maurice Sampson sold 3,000 shares of the stock in a transaction on Monday, November 13th. The stock was sold at an average price of $36.58, for a total value of $109,740.00. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 75,083 shares of company stock valued at $2,741,284. Corporate insiders own 2.90% of the company’s stock.

Several hedge funds and other institutional investors have recently modified their holdings of the stock. Symphony Asset Management LLC raised its position in Olin by 150.8% in the second quarter. Symphony Asset Management LLC now owns 36,261 shares of the specialty chemicals company’s stock worth $1,098,000 after acquiring an additional 21,802 shares in the last quarter. TVR Capital Management LP raised its position in Olin by 714.0% in the second quarter. TVR Capital Management LP now owns 442,597 shares of the specialty chemicals company’s stock worth $13,401,000 after acquiring an additional 388,225 shares in the last quarter. BlueCrest Capital Management Ltd raised its position in Olin by 481.0% in the second quarter. BlueCrest Capital Management Ltd now owns 680,828 shares of the specialty chemicals company’s stock worth $20,615,000 after acquiring an additional 563,647 shares in the last quarter. Quantum Capital Management raised its position in Olin by 22.2% in the second quarter. Quantum Capital Management now owns 237,063 shares of the specialty chemicals company’s stock worth $7,178,000 after acquiring an additional 43,013 shares in the last quarter. Finally, California Public Employees Retirement System raised its position in Olin by 1.8% in the second quarter. California Public Employees Retirement System now owns 316,337 shares of the specialty chemicals company’s stock worth $9,579,000 after acquiring an additional 5,600 shares in the last quarter. 89.68% of the stock is owned by hedge funds and other institutional investors.

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About Olin

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.

Analyst Recommendations for Olin (NYSE:OLN)

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