Wells Fargo Adjusts Olin Corporation (NYSE:OLN) Rating to Equal-Weight

• Wells Fargo has adjusted its rating for Olin Corporation (NYSE:OLN) to Equal-Weight, maintaining a hold position as of February 3, 2025.
• Olin Corporation reported strong fourth-quarter 2024 results, with earnings and revenues surpassing expectations despite a year-over-year decline in net income.
• The company's stock price has seen a decrease of 5.22%, with a current price of $27.76, amidst fluctuations in the market.

On February 3, 2025, Wells Fargo adjusted its rating for Olin Corporation (NYSE:OLN) to Equal-Weight, maintaining a hold position. At the time, OLN's stock price was $28.05. Olin, a chemical manufacturing company, operates in segments like Chlor Alkali Products and Vinyls, and Winchester. It competes with companies like Dow Inc. and Westlake Chemical.

Olin reported strong fourth-quarter 2024 results, with earnings and revenues surpassing expectations. The company achieved a net income of $10.7 million, or 9 cents per share. This was a decline from the previous year's $52.9 million or 43 cents per share but exceeded the Zacks Consensus Estimate of a loss of a penny per share.

The adjusted EBITDA for the quarter was $193.4 million, slightly down from $210.1 million in the same quarter the previous year. Despite this decline, the company's revenue reached $1.67 billion, surpassing the Zacks Consensus Estimate of $1.61 billion. This marked a 3.5% increase year-over-year, driven by higher volumes and selling prices in the Chlor Alkali Products and Vinyls segment, along with strong performance from the Winchester unit.

Currently, OLN's stock is priced at $27.76, reflecting a decrease of 5.22% with a change of $1.53. The stock has fluctuated between a low of $27.15 and a high of $28.62 today. Over the past year, OLN has reached a high of $60.60 and a low of $27.15. The company has a market capitalization of approximately $3.24 billion, with a trading volume of 2,702,606 shares on the NYSE.