Olin (NYSE:OLN) Price Target Lowered to $34.00 at UBS Group

Olin (NYSE:OLN) had its price target trimmed by UBS Group from $35.00 to $34.00 in a research note released on Friday,Benzinga reports. The brokerage currently has a neutral rating on the specialty chemicals company’s stock.

Several other research firms have also weighed in on OLN. Bank of America raised Olin from a “neutral” rating to a “buy” rating and dropped their price target for the company from $48.00 to $40.00 in a research report on Tuesday, January 14th. Truist Financial began coverage on shares of Olin in a research report on Tuesday. They set a “hold” rating and a $38.00 target price for the company. Royal Bank of Canada decreased their price target on shares of Olin from $52.00 to $48.00 and set an “outperform” rating on the stock in a research report on Tuesday, October 29th. KeyCorp cut their target price on Olin from $56.00 to $50.00 and set an “overweight” rating for the company in a research note on Friday, January 10th. Finally, Morgan Stanley decreased their price objective on Olin from $41.00 to $31.00 and set an “underweight” rating on the stock in a report on Monday, January 13th. One investment analyst has rated the stock with a sell rating, eight have assigned a hold rating and seven have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Hold” and a consensus target price of $45.44.

Olin Stock Down 9.0 %

Shares of Olin stock opened at $29.24 on Friday. The company has a quick ratio of 0.82, a current ratio of 1.40 and a debt-to-equity ratio of 1.32. Olin has a 12-month low of $28.80 and a 12-month high of $60.60. The firm has a market capitalization of $3.41 billion, a PE ratio of 23.58, a price-to-earnings-growth ratio of 0.77 and a beta of 1.48. The stock’s fifty day moving average is $35.52 and its 200-day moving average is $41.16.

Olin (NYSE:OLN) last posted its quarterly earnings data on Thursday, January 30th. The specialty chemicals company reported $0.09 EPS for the quarter, beating analysts’ consensus estimates of ($0.01) by $0.10. Olin had a net margin of 2.33% and a return on equity of 6.19%. Equities analysts anticipate that Olin will post 0.95 earnings per share for the current year.

Olin declared that its board has initiated a stock repurchase plan on Thursday, December 12th that permits the company to repurchase $2.00 billion in outstanding shares. This repurchase authorization permits the specialty chemicals company to reacquire up to 45% of its stock through open market purchases. Stock repurchase plans are typically an indication that the company’s leadership believes its shares are undervalued.

Insider Buying and Selling

In related news, VP R Nichole Sumner sold 10,500 shares of the company’s stock in a transaction dated Friday, November 8th. The stock was sold at an average price of $43.75, for a total value of $459,375.00. Following the completion of the sale, the vice president now owns 24,056 shares in the company, valued at approximately $1,052,450. This represents a 30.39 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Corporate insiders own 1.60% of the company’s stock.

Hedge Funds Weigh In On Olin

Several institutional investors and hedge funds have recently modified their holdings of OLN. Sei Investments Co. raised its position in Olin by 5.6% in the 2nd quarter. Sei Investments Co. now owns 12,161 shares of the specialty chemicals company’s stock valued at $573,000 after buying an additional 640 shares during the last quarter. Marshall Wace LLP acquired a new position in Olin during the second quarter valued at approximately $2,929,000. Sanctuary Advisors LLC bought a new position in Olin in the second quarter valued at approximately $2,486,000. CWM LLC increased its position in shares of Olin by 18.0% during the 3rd quarter. CWM LLC now owns 8,668 shares of the specialty chemicals company’s stock worth $416,000 after purchasing an additional 1,324 shares during the last quarter. Finally, UMB Bank n.a. raised its stake in shares of Olin by 4,862.5% during the 3rd quarter. UMB Bank n.a. now owns 1,588 shares of the specialty chemicals company’s stock worth $76,000 after purchasing an additional 1,556 shares in the last quarter. 88.67% of the stock is currently owned by institutional investors and hedge funds.

About Olin

Olin Corporation manufactures and distributes chemical products in the United States, Europe, Asia Pacific, Latin America, and Canada. It operates through three segments: Chlor Alkali Products and Vinyls; Epoxy; and Winchester. The Chlor Alkali Products and Vinyls segment offers chlorine and caustic soda, ethylene dichloride and vinyl chloride monomers, methyl chloride, methylene chloride, chloroform, carbon tetrachloride, perchloroethylene, hydrochloric acid, hydrogen, bleach products, potassium hydroxide, and chlorinated organics intermediates and solvents.