Noteworthy Price Action: Olin Corporation Can’t Be More Hot. Just Reaches 52-Week High

Noteworthy Price Action: Olin Corporation Can't Be More Hot. Just Reaches 52 Week High

The stock of Olin Corporation (NYSE:OLN) hit a new 52-week high and has $27.52 target or 5.00% above today’s $26.21 share price. The 8 months bullish chart indicates low risk for the $4.45B company. The 1-year high was reported on Dec, 1 by If the $27.52 price target is reached, the company will be worth $222.50M more.
The 52-week high event is an important milestone for every stock because it shows very positive momentum and is time when buyers come in. During such notable technical setup, fundamental investors usually stay away and are careful shorting or selling the stock. The stock increased 0.81% or $0.21 on December 1, hitting $26.21. About 2.27M shares traded hands. Olin Corporation (NYSE:OLN) has risen 19.05% since April 28, 2016 and is uptrending. It has outperformed by 13.12% the S&P500.

Analysts await Olin Corporation (NYSE:OLN) to report earnings on February, 7. They expect $0.23 EPS, up 2,200.00% or $0.22 from last year’s $0.01 per share. OLN’s profit will be $39.05 million for 28.49 P/E if the $0.23 EPS becomes a reality. After $0.33 actual EPS reported by Olin Corporation for the previous quarter, Wall Street now forecasts -30.30% negative EPS growth.

Olin Corporation (NYSE:OLN) Ratings Coverage

Out of 6 analysts covering Olin Corporation (NYSE:OLN), 4 rate it a “Buy”, 1 “Sell”, while 1 “Hold”. This means 67% are positive. Olin Corporation has been the topic of 19 analyst reports since August 6, 2015 according to StockzIntelligence Inc. The firm has “Outperform” rating by RBC Capital Markets given on Thursday, February 4. The rating was maintained by Cowen & Co on Monday, September 21 with “Market Perform”. The rating was downgraded by Longbow to “Underperform” on Wednesday, September 7. The firm earned “Outperform” rating on Tuesday, June 28 by Cowen & Co. As per Friday, July 22, the company rating was maintained by RBC Capital Markets. The stock of Olin Corporation (NYSE:OLN) earned “Sector Perform” rating by RBC Capital Markets on Tuesday, September 8. As per Friday, July 29, the company rating was maintained by Cowen & Co. Monness Crespi upgraded Olin Corporation (NYSE:OLN) on Thursday, February 4 to “Buy” rating. The firm has “Outperform” rating by RBC Capital Markets given on Monday, June 13. Susquehanna upgraded the shares of OLN in a report on Thursday, August 6 to “Positive” rating.

According to Zacks Investment Research, “Olin Corporation is a manufacturer concentrated in chemicals, metals and ammunition. The chemicals segment is divided into divisions: Chlor-Alkali, Chemicals and Microelectronic Materials. Chlor-alkali includes chlor-alkali products, sodium hydrosulfite and high strength bleach products. Chemicals includes pool chemicals, biocides, hydrazine, polyols, propylene glycols and surfactants and fluids. Microelectronic Materials includes image-forming and electronic interconnect materials and services. The metals and ammunition segment produces copper alloy sheet, strip, rod, wire, and ammunition.”

Insitutional Activity: The institutional sentiment increased to 1.13 in 2016 Q2. Its up 0.11, from 1.02 in 2016Q1. The ratio is positive, as 41 funds sold all Olin Corporation shares owned while 83 reduced positions. 42 funds bought stakes while 84 increased positions. They now own 167.03 million shares or 9.36% more from 152.73 million shares in 2016Q1.
Commercial Bank Of America De has 0% invested in the company for 848,601 shares. Advsrs Capital Mngmt Ltd Liability Corporation has invested 0.35% of its portfolio in Olin Corporation (NYSE:OLN). Federated Investors Pa holds 0.1% of its portfolio in Olin Corporation (NYSE:OLN) for 1.41 million shares. Bowen Hanes & Incorporated has invested 1.49% of its portfolio in Olin Corporation (NYSE:OLN). Glenmede Trust Na accumulated 0% or 144 shares. Walleye Trading Lc accumulated 25,947 shares or 0% of the stock. Blackrock Invest Lc has 0.04% invested in the company for 1.15 million shares. Moreover, Gamco Investors Incorporated Et Al has 0.02% invested in Olin Corporation (NYSE:OLN) for 125,000 shares. Bnp Paribas Arbitrage reported 152,108 shares or 0.02% of all its holdings. Apriem Advisors reported 710 shares or 0.01% of all its holdings. Hanseatic Management owns 717 shares or 0.01% of their US portfolio. Bridgeway Management holds 0.03% of its portfolio in Olin Corporation (NYSE:OLN) for 73,400 shares. Moreover, First Republic Investment Mngmt has 0% invested in Olin Corporation (NYSE:OLN) for 15,039 shares. State Common Retirement Fund last reported 440,430 shares in the company. Iridian Asset Management Lc Ct has invested 1.2% of its portfolio in Olin Corporation (NYSE:OLN).

Insider Transactions: Since August 23, 2016, the stock had 1 buying transaction, and 1 sale for $234,757 net activity. Shares for $450,700 were bought by Dawson Pat D. MCINTOSH JOHN L sold $215,943 worth of stock or 10,000 shares.

OLN Company Profile

Olin Corporation, incorporated on August 13, 1892, is a maker and distributor of chemical products, and ammunition. The Firm operates through three divisions: Chlor Alkali Products and Vinyls, Epoxy and Winchester. The Chlor Alkali Products and Vinyls segment makes 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 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.

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