Olin (NYSE:OLN) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a report issued on Friday.

According to Zacks, “Olin Corporation is a leading vertically-integrated global manufacturer and distributor of chemical products and a leading U.S. manufacturer of ammunition. Olin are a manufacturer concentrated in three business 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. The Epoxy segment produces and sells a full range of epoxy materials, including allyl chloride, epichlorohydrin, liquid epoxy resins and downstream products such as converted epoxy resins and additives. The Winchester segment produces and sells sporting ammunition, reloading components, small caliber military ammunition and components, and industrial cartridges. “

Several other brokerages also recently issued reports on OLN. Nomura lowered their price target on shares of Olin from $43.00 to $40.00 and set a “buy” rating for the company in a report on Thursday. TheStreet upgraded shares of Olin from a “c+” rating to a “b” rating in a report on Tuesday, October 31st. Vertical Research upgraded shares of Olin from a “hold” rating to a “buy” rating in a report on Wednesday, January 3rd. SunTrust Banks reiterated a “buy” rating and set a $46.00 price target on shares of Olin in a report on Monday, November 6th. Finally, Morgan Stanley started coverage on shares of Olin in a report on Tuesday, January 9th. They set an “overweight” rating and a $45.00 price target for the company. Three research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the stock. The company currently has a consensus rating of “Buy” and a consensus target price of $40.10.

Shares of Olin (NYSE:OLN) opened at $30.55 on Friday. The firm has a market capitalization of $5,104.91, a price-to-earnings ratio of 35.94, a price-to-earnings-growth ratio of 0.90 and a beta of 1.36. The company has a debt-to-equity ratio of 1.31, a quick ratio of 1.03 and a current ratio of 1.78. Olin has a 12 month low of $27.79 and a 12 month high of $38.84.

Olin (NYSE:OLN) last announced its quarterly earnings results on Tuesday, February 6th. The specialty chemicals company reported $2.89 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.44 by $2.45. The company had revenue of $1.62 billion during the quarter, compared to the consensus estimate of $1.53 billion. Olin had a net margin of 8.77% and a return on equity of 6.02%. The company’s revenue for the quarter was up 16.9% compared to the same quarter last year. During the same period in the prior year, the business earned $0.11 earnings per share. equities analysts anticipate that Olin will post 2.34 EPS for the current fiscal year.

In related news, 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 transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP John L. Mcintosh sold 9,500 shares of the stock in a transaction on Wednesday, November 15th. The shares were sold at an average price of $35.42, for a total value of $336,490.00. The disclosure for this sale can be found here. Corporate insiders own 2.90% of the company’s stock.

A number of hedge funds and other institutional investors have recently bought and sold shares of OLN. Kensico Capital Management Corp increased its holdings in Olin by 43.3% in the third quarter. Kensico Capital Management Corp now owns 7,800,000 shares of the specialty chemicals company’s stock valued at $267,150,000 after purchasing an additional 2,355,000 shares during the period. Jennison Associates LLC grew its holdings in Olin by 7,869.7% during the 3rd quarter. Jennison Associates LLC now owns 1,992,417 shares of the specialty chemicals company’s stock worth $68,240,000 after acquiring an additional 1,967,417 shares during the period. BlackRock Inc. grew its holdings in Olin by 5.3% during the 4th quarter. BlackRock Inc. now owns 16,689,125 shares of the specialty chemicals company’s stock worth $593,800,000 after acquiring an additional 842,715 shares during the period. Iridian Asset Management LLC CT grew its holdings in Olin by 5.3% during the 4th quarter. Iridian Asset Management LLC CT now owns 7,760,477 shares of the specialty chemicals company’s stock worth $276,118,000 after acquiring an additional 390,184 shares during the period. Finally, Teachers Retirement System of The State of Kentucky grew its holdings in Olin by 1,116.5% during the 3rd quarter. Teachers Retirement System of The State of Kentucky now owns 381,729 shares of the specialty chemicals company’s stock worth $13,074,000 after acquiring an additional 350,349 shares during the period. Institutional investors and hedge funds own 89.68% of the company’s stock.

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Olin 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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Analyst Recommendations for Olin (NYSE:OLN)

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