On the date of April 28th, 2023, financial news outlets began reporting on U.S. Capital Wealth Advisors LLC’s recent acquisition of shares in Olin Co. (NYSE:OLN). According to its most recent disclosure with the Securities and Exchange Commission, the firm acquired 4,661 shares of the specialty chemicals company’s stock, valued at approximately $247,000.
This announcement comes on the heels of Olin’s quarterly earnings report from January 27th, which indicated a successful quarter for the company. They reported earnings per share of $1.43, exceeding the consensus estimate by $0.01. However, revenue for the quarter was down from expectations at $1.98 billion compared to an estimated $2.11 billion. Despite this setback, Olin had a return on equity of 50.19% and a net margin of 14.15%. The company’s quarterly revenue was down by 18.6% year-over-year.
In light of these developments, various equity research analysts have shared their thoughts and opinions on Oln Co.’s current standing in the market. Citigroup upped their target price from $58 to $65 and gave them a “neutral” rating in February of this year whereas Piper Sandler increased their price objective on shares of Olin from $82 to $83 in April and provided an “overweight” rating for Olin Co.’s stocks.
On the other hand, Morgan Stanley lowered shares of Olin from an “equal weight” rating to an “underweight” rating giving it a price objective of $50 while Goldman Sachs Group raised their target price from $65 to $74 dollars giving it a “buy” rating again in January.
As per Bloomberg.com reports as cited by several brokerage firms including UBS Group AG and JP Morgan Chase & Co., who both issued separate investors’ notes yesterday agreeing that even in these uncertain times that the company presently has a consensus rating of “Moderate Buy” despite slowing down its revenue growth by a large margin over the past few quarters.
All in all, based on market trends and analysis from various firms, it appears that Olin Co. is holding steady amidst economic turbulence and continuing to receive attention from investors both large and small. Only time will tell which path the company’s growth trajectory will take moving forward.
Investment and Performance Analysis of Olin Corporation: Chemical Industry Player with Mixed Opinions from Financial Analysts
Olin Corporation is an American manufacturer and distributor of chemical products. The company was founded in 1892 by Franklin W. Olin, and has since grown to become a major player in the chemical industry with a market cap of $7.15 billion.
Recently, several large investors have bought and sold shares of Olin Corp. Salem Investment Counselors Inc., Bessemer Group Inc., Tobam, Wipfli Financial Advisors LLC, and EverSource Wealth Advisors LLC have all invested in the company with purchases ranging from $26,000 to $36,000 for new positions in Olin Corp. As a result of these investments, 85.77% of the stock is now owned by institutional investors.
Despite recent investments, OLN opened at $54.67 on Friday, which is lower than its 12 month high of $67.25 but higher than its low point of $41.33 during the last year. The stock has a current ratio of 1.38 and a quick ratio of 0.78 with a debt-to-equity ratio of 1.01.
A variety of financial analysts have commented on OLN shares recently with mixed opinions toward the company’s current state and future outlooks: two investment analysts rated the stock as a sell, one reported it as holding steady while nine claimed it was worth buying into current markets due to expected growth.
Additionally, aside from investments by major players within financial markets impacting stock performance there have been recent internal activities within Olin Corp that may impact their shareholder returns. For example Director Heidi S Alderman sold two-thousand shares at an average price point exceeding sixty-four dollars per share earlier this year that also impacted overall value for those shares.
The firm also announced payment dates for upcoming dividends which represents an incentive program to retain investors; shareholders knew that they would receive a quarterly dividend paid out on March 13th if they retained any stock purchases made with the company prior to March 6th 2023. The price carried a nominal value of $0.80 annually and represents a dividend yield of 1.46%.
Olin Corporation is well-known in the industry for its chemical products; however, like any other publicly-traded firm, it is susceptible to external pressures that may move stock prices in unexpected directions. Investors would be wise to keep themselves aware of any changes happening both internally and externally.