Olin (NYSE:OLN) Announces Earnings Results

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

Olin Stock Performance

NYSE:OLN opened at $32.08 on Friday. The company has a market cap of $3.74 billion, a P/E ratio of 25.87, a P/E/G ratio of 0.77 and a beta of 1.48. Olin has a twelve month low of $30.69 and a twelve month high of $60.60. The company’s 50-day moving average price is $35.99 and its 200-day moving average price is $41.36. The company has a current ratio of 1.40, a quick ratio of 0.82 and a debt-to-equity ratio of 1.32.

Analyst Ratings Changes

Several research firms have issued reports on OLN. Morgan Stanley lowered their price objective on shares of Olin from $41.00 to $31.00 and set an “underweight” rating for the company in a research report on Monday, January 13th. Royal Bank of Canada decreased their price objective on Olin from $52.00 to $48.00 and set an “outperform” rating for the company in a report on Tuesday, October 29th. KeyCorp cut 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. Truist Financial initiated coverage on Olin in a research note on Tuesday. They set a “hold” rating and a $38.00 price objective for the company. Finally, Piper Sandler reduced their target price on shares of Olin from $51.00 to $41.00 and set an “overweight” rating for the company in a report on Tuesday, January 7th. One investment analyst has rated the stock with a sell rating, eight have assigned a hold rating and seven have issued a buy rating to the company. According to data from MarketBeat.com, Olin has an average rating of “Hold” and a consensus target price of $46.50.

Insider Buying and Selling at Olin

In other Olin news, VP R Nichole Sumner sold 10,500 shares of the firm’s stock in a transaction on Friday, November 8th. The stock was sold at an average price of $43.75, for a total value of $459,375.00. Following the completion of 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 position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 1.60% of the stock is owned by insiders.

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

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.