Olin (NYSE:OLN) Announces Earnings Results

Olin (NYSE:OLN) issued its quarterly earnings results on Thursday. The specialty chemicals company reported $0.09 earnings per share for the quarter, topping analysts’ consensus estimates of ($0.01) by $0.10, Zacks reports. Olin had a return on equity of 6.19% and a net margin of 2.33%.

Olin Price Performance

OLN opened at $29.24 on Friday. Olin has a 1 year low of $28.80 and a 1 year high of $60.60. The stock has a 50-day moving average price of $35.52 and a 200-day moving average price of $41.16. The firm has a market cap of $3.41 billion, a PE ratio of 23.58, a P/E/G ratio of 0.77 and a beta of 1.48. The company has a debt-to-equity ratio of 1.32, a current ratio of 1.40 and a quick ratio of 0.82.

Wall Street Analyst Weigh In

Several research analysts recently issued reports on OLN shares. UBS Group cut their target price on shares of Olin from $35.00 to $34.00 and set a “neutral” rating on the stock in a research note on Friday. Piper Sandler dropped their price objective on shares of Olin from $51.00 to $41.00 and set an “overweight” rating on the stock in a report on Tuesday, January 7th. Royal Bank of Canada decreased their target price on shares of Olin from $52.00 to $48.00 and set an “outperform” rating on the stock in a report on Tuesday, October 29th. Bank of America raised shares of Olin from a “neutral” rating to a “buy” rating and dropped their price objective for the stock from $48.00 to $40.00 in a report on Tuesday, January 14th. Finally, KeyCorp reduced their price target on Olin from $56.00 to $50.00 and set an “overweight” rating on the stock in a report on Friday, January 10th. One analyst has rated the stock with a sell rating, eight have given a hold rating and seven have assigned a buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average price target of $45.44.

Olin declared that its Board of Directors has authorized a stock repurchase plan on Thursday, December 12th that authorizes the company to buyback $2.00 billion in shares. This buyback authorization authorizes the specialty chemicals company to repurchase up to 45% of its stock through open market purchases. Stock buyback plans are typically a sign that the company’s board of directors believes its shares are undervalued.

Insider Buying and Selling at Olin

In related news, VP R Nichole Sumner sold 10,500 shares of the stock in a transaction on Friday, November 8th. The stock was sold at an average price of $43.75, for a total transaction of $459,375.00. Following the sale, the vice president now directly owns 24,056 shares of the company’s stock, valued at $1,052,450. This trade represents a 30.39 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. 1.60% of the stock is owned by company insiders.

About Olin

Olin Corporation manufactures and distributes chemical products in the United States, Europe, Asia Pacific, Latin America, and Canada. It operates through three segments: Chlor Alkali Products and Vinyls; Epoxy; and Winchester. The Chlor Alkali Products and Vinyls segment offers chlorine and caustic soda, ethylene dichloride and vinyl chloride monomers, methyl chloride, methylene chloride, chloroform, carbon tetrachloride, perchloroethylene, hydrochloric acid, hydrogen, bleach products, potassium hydroxide, and chlorinated organics intermediates and solvents.