Mizuho Issues Positive Forecast for Olin (NYSE:OLN) Stock Price

Olin (NYSE:OLN) had its price target raised by analysts at Mizuho from $24.00 to $26.00 in a research report issued to clients and investors on Tuesday,Benzinga reports. The firm currently has a “neutral” rating on the specialty chemicals company’s stock. Mizuho’s price objective would suggest a potential downside of 13.49% from the stock’s current price.

Other research analysts also recently issued research reports about the company. Deutsche Bank Aktiengesellschaft reissued a “hold” rating and set a $26.00 target price on shares of Olin in a research note on Tuesday, February 10th. Royal Bank Of Canada reduced their price target on shares of Olin from $24.00 to $21.00 and set a “sector perform” rating on the stock in a research note on Monday, February 2nd. Weiss Ratings reaffirmed a “sell (d+)” rating on shares of Olin in a report on Thursday, January 22nd. UBS Group set a $21.00 price objective on shares of Olin in a research report on Monday, February 2nd. Finally, BMO Capital Markets cut their target price on shares of Olin from $25.00 to $24.00 and set a “market perform” rating on the stock in a research report on Tuesday, February 3rd. One equities research analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating, twelve have given a Hold rating and three have issued a Sell rating to the company. According to MarketBeat, Olin currently has a consensus rating of “Hold” and an average target price of $23.87.

Olin Price Performance

OLN traded up $1.18 during trading on Tuesday, hitting $30.06. 400,421 shares of the stock traded hands, compared to its average volume of 3,266,048. The business has a 50 day moving average price of $24.72 and a 200 day moving average price of $23.03. The company has a debt-to-equity ratio of 1.45, a current ratio of 1.21 and a quick ratio of 0.73. Olin has a twelve month low of $17.66 and a twelve month high of $30.16. The company has a market cap of $3.42 billion, a price-to-earnings ratio of -79.25 and a beta of 1.56.

Olin (NYSE:OLN) last issued its quarterly earnings results on Thursday, January 29th. The specialty chemicals company reported ($0.58) earnings per share (EPS) for the quarter, meeting the consensus estimate of ($0.58). Olin had a negative return on equity of 0.48% and a negative net margin of 0.63%.The company had revenue of $1.67 billion for the quarter, compared to analyst estimates of $1.61 billion. During the same quarter last year, the company posted $0.09 EPS. The company’s revenue for the quarter was down .4% compared to the same quarter last year. Equities research analysts forecast that Olin will post 1.38 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, CFO Todd A. Slater sold 92,250 shares of Olin stock in a transaction on Tuesday, February 3rd. The shares were sold at an average price of $22.48, for a total transaction of $2,073,780.00. Following the transaction, the chief financial officer owned 44,291 shares in the company, valued at approximately $995,661.68. The trade was a 67.56% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, VP Angela M. Castle sold 2,379 shares of the stock in a transaction on Tuesday, February 24th. The shares were sold at an average price of $24.25, for a total value of $57,690.75. Following the completion of the sale, the vice president owned 1,528 shares of the company’s stock, valued at $37,054. The trade was a 60.89% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 99,379 shares of company stock valued at $2,238,298 in the last ninety days. 1.60% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Olin

A number of institutional investors have recently made changes to their positions in the stock. Hotchkis & Wiley Capital Management LLC lifted its stake in shares of Olin by 5.5% in the third quarter. Hotchkis & Wiley Capital Management LLC now owns 12,690,488 shares of the specialty chemicals company’s stock worth $317,135,000 after acquiring an additional 661,730 shares during the period. State Street Corp boosted its holdings in Olin by 1.1% in the second quarter. State Street Corp now owns 4,830,406 shares of the specialty chemicals company’s stock valued at $97,043,000 after acquiring an additional 50,309 shares during the last quarter. Dimensional Fund Advisors LP increased its position in Olin by 3.3% during the 4th quarter. Dimensional Fund Advisors LP now owns 4,596,499 shares of the specialty chemicals company’s stock valued at $95,746,000 after purchasing an additional 145,424 shares during the period. Pzena Investment Management LLC raised its holdings in Olin by 17.5% during the 4th quarter. Pzena Investment Management LLC now owns 4,507,913 shares of the specialty chemicals company’s stock worth $93,900,000 after purchasing an additional 671,250 shares during the last quarter. Finally, Orbis Allan Gray Ltd raised its holdings in Olin by 448.9% during the 4th quarter. Orbis Allan Gray Ltd now owns 3,804,561 shares of the specialty chemicals company’s stock worth $79,249,000 after purchasing an additional 3,111,393 shares during the last quarter. Institutional investors own 88.67% of the company’s stock.

Olin Company Profile

Olin Corporation is a diversified manufacturer specializing in chemical products and ammunition. The company’s core business activities encompass the production and distribution of chlor-alkali products, epoxy resins and derivatives, and small-caliber ammunition under the Winchester brand. Olin’s chemical operations supply chlorine, caustic soda and related co-products to a wide range of end markets, including water treatment, pulp and paper, pharmaceuticals and general industrial applications.

In its Chlor Alkali Products & Vinyls segment, Olin operates multiple manufacturing facilities that produce chlorine and sodium hydroxide, along with vinyl chloride monomer and polyvinyl chloride (PVC) compounds.