Olin (OLN) Bonds Trading 1.1% Lower

An issue of Olin Co. (NYSE:OLN) bonds fell 1.1% against their face value during trading on Tuesday. The high-yield issue of debt has a 5.125% coupon and will mature on September 15, 2027. The bonds in the issue are now trading at $99.38 and were trading at $100.50 last week. Price moves in a company’s bonds in credit markets sometimes anticipate parallel moves in its share price.

Several brokerages have recently issued reports on OLN. SunTrust Banks reiterated a “buy” rating on shares of Olin in a research report on Tuesday, February 13th. Morgan Stanley set a $41.00 price objective on Olin and gave the stock a “buy” rating in a research report on Monday, February 12th. Citigroup set a $40.00 price objective on Olin and gave the stock a “buy” rating in a research report on Monday, February 12th. Cowen reiterated a “buy” rating and set a $41.00 price objective on shares of Olin in a research report on Friday, February 9th. Finally, Zacks Investment Research downgraded Olin from a “buy” rating to a “hold” rating in a research report on Friday, February 9th. Three research analysts have rated the stock with a hold rating and nine have given a buy rating to the company. The company currently has an average rating of “Buy” and a consensus target price of $39.80.

Olin Co. (OLN) traded up $0.38 on Tuesday, reaching $33.05. The company’s stock had a trading volume of 1,851,637 shares, compared to its average volume of 2,390,581. The firm has a market capitalization of $5,520.00, a P/E ratio of 10.20, a price-to-earnings-growth ratio of 1.12 and a beta of 1.35. The company has a debt-to-equity ratio of 1.31, a current ratio of 1.78 and a quick ratio of 1.07. Olin Co. has a 12-month low of $27.79 and a 12-month high of $38.84.

Olin (NYSE:OLN) last released its earnings results on Tuesday, February 6th. The specialty chemicals company reported $2.89 earnings per share for the quarter, topping analysts’ consensus estimates of $0.44 by $2.45. The firm had revenue of $1.62 billion during the quarter, compared to the consensus estimate of $1.53 billion. Olin had a return on equity of 6.02% and a net margin of 8.77%. The firm’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 firm posted $0.11 earnings per share. research analysts predict that Olin Co. will post 2.12 earnings per share for the current fiscal year.

The company also recently announced a quarterly dividend, which will be paid on Friday, March 9th. Shareholders of record on Friday, February 9th will be given a $0.20 dividend. The ex-dividend date is Thursday, February 8th. This represents a $0.80 dividend on an annualized basis and a yield of 2.42%. Olin’s dividend payout ratio (DPR) is 24.69%.

In other news, Director Donald W. Bogus bought 6,000 shares of the business’s stock in a transaction on Friday, February 16th. The stock was purchased at an average cost of $33.07 per share, for a total transaction of $198,420.00. Following the completion of the transaction, the director now directly owns 83,118 shares of the company’s stock, valued at approximately $2,748,712.26. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Randall W. Larrimore bought 800 shares of the business’s stock in a transaction on Monday, February 12th. The stock was purchased at an average price of $31.28 per share, with a total value of $25,024.00. Following the completion of the transaction, the director now directly owns 6,500 shares of the company’s stock, valued at $203,320. The disclosure for this purchase can be found here. Corporate insiders own 2.90% of the company’s stock.

A number of institutional investors and hedge funds have recently added to or reduced their stakes in OLN. Bessemer Group Inc. lifted its position in shares of Olin by 971.4% during the 4th quarter. Bessemer Group Inc. now owns 4,725 shares of the specialty chemicals company’s stock valued at $168,000 after acquiring an additional 4,284 shares during the last quarter. Fuller & Thaler Asset Management Inc. acquired a new stake in shares of Olin during the 4th quarter valued at $178,000. Naples Global Advisors LLC acquired a new stake in shares of Olin during the 4th quarter valued at $206,000. Fox Run Management L.L.C. acquired a new stake in shares of Olin during the 4th quarter valued at $210,000. Finally, Neuberger Berman Group LLC acquired a new stake in shares of Olin during the 3rd quarter valued at $216,000. Hedge funds and other institutional investors own 88.31% 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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