Cowen & Company Upgrades Olin Corporation to Outperform

Brokerage firm Cowen & Company Upgrades its rating on Olin Corporation(NYSE:OLN). The shares have been rated Outperform. Previously, the analysts had a Market Perform rating on the shares. The rating by Cowen & Company was issued on Jun 28, 2016.

Olin Corporation (OLN) made into the market gainers list on Fridays trading session with the shares advancing 0.20% or 0.05 points. Due to strong positive momentum, the stock ended at $24.89, which is also near the day’s high of $25.2. The stock began the session at $24.81 and the volume stood at 31,04,709 shares. The 52-week high of the shares is $27.18 and the 52 week low is $12.29. The company has a current market capitalization of $4,111 M and it has 16,51,50,270 shares in outstanding.

Olin Corporation(OLN) last announced its earnings results on May 2, 2016 for Fiscal Year 2016 and Q1.Company reported revenue of $1.35B. Analysts had an estimated revenue of $1.43B. Earnings per share were $0.33. Analysts had estimated an EPS of $0.22.

Several Insider Transactions has been reported to the SEC. On Mar 3, 2016, Randall W Larrimore (director) purchased 1,600 shares at $15.45 per share price.Also, On Feb 19, 2016, Joseph D Rupp (CEO) purchased 70,000 shares at $14.26 per share price.On Feb 18, 2016, Stephen C Curley (VP & Treasurer) purchased 5,000 shares at $13.38 per share price, according to the Form-4 filing with the securities and exchange commission.

Olin Corporation is a manufacturing company. The Company operates in three segments: Chlor Alkali Products Chemical Distribution and Winchester. Chlor Alkali Products manufactures and sells chlorine and caustic soda hydrochloric acid hydrogen bleach products and potassium hydroxide. Chemical Distribution manufactures bleach products and distributes caustic soda bleach products potassium hydroxide and hydrochloric acid. Winchester products segments include sporting ammunition reloading components small caliber military ammunition and components and industrial cartridges. The Company’s subsidiary Olin Canada ULC operates one chlor alkali facility in Becancour Canada which sells chlor alkali-related products within Canada and to the United States and also sells and distributes ammunition within Canada. Its subsidiary Winchester Australia Limited loads and packs sporting and industrial ammunition in Australia.

Comments (0)

Leave a Reply

Your email address will not be published. Required fields are marked *