Olin (NYSE:OLN) Sees Unusually-High Trading Volume After Analyst Upgrade

Olin Co. (NYSE:OLNGet Free Report) saw unusually-high trading volume on Tuesday after The Goldman Sachs Group raised their price target on the stock from $55.00 to $61.00. The Goldman Sachs Group currently has a neutral rating on the stock. Approximately 521,484 shares changed hands during trading, a decline of 52% from the previous session’s volume of 1,086,034 shares.The stock last traded at $54.12 and had previously closed at $56.04.

A number of other equities analysts have also issued reports on OLN. KeyCorp raised their price target on Olin from $61.00 to $66.00 and gave the stock an “overweight” rating in a report on Tuesday, January 9th. Morgan Stanley reduced their price objective on shares of Olin from $50.00 to $38.00 and set an “underweight” rating for the company in a research report on Monday, October 30th. Citigroup initiated coverage on shares of Olin in a research report on Monday, November 13th. They issued a “buy” rating and a $50.00 price objective for the company. UBS Group raised their price objective on shares of Olin from $56.00 to $58.00 and gave the company a “neutral” rating in a research report on Friday, January 26th. Finally, StockNews.com initiated coverage on shares of Olin in a research report on Thursday, October 5th. They issued a “hold” rating for the company. Two research analysts have rated the stock with a sell rating, eight have given a hold rating and five have given a buy rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Hold” and an average price target of $56.27.

Get Our Latest Stock Report on OLN

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of OLN. Baystate Wealth Management LLC raised its position in shares of Olin by 154.6% during the 3rd quarter. Baystate Wealth Management LLC now owns 494 shares of the specialty chemicals company’s stock worth $25,000 after purchasing an additional 300 shares during the last quarter. Salem Investment Counselors Inc. acquired a new position in shares of Olin during the 1st quarter worth approximately $26,000. Covestor Ltd raised its position in shares of Olin by 76.7% during the 3rd quarter. Covestor Ltd now owns 659 shares of the specialty chemicals company’s stock worth $33,000 after purchasing an additional 286 shares during the last quarter. Sandy Spring Bank raised its position in shares of Olin by 145.6% during the 4th quarter. Sandy Spring Bank now owns 614 shares of the specialty chemicals company’s stock worth $33,000 after purchasing an additional 364 shares during the last quarter. Finally, Quarry LP raised its position in shares of Olin by 508.6% during the 1st quarter. Quarry LP now owns 706 shares of the specialty chemicals company’s stock worth $39,000 after purchasing an additional 590 shares during the last quarter. 85.69% of the stock is currently owned by institutional investors and hedge funds.

Olin Price Performance

The company has a debt-to-equity ratio of 1.14, a quick ratio of 0.73 and a current ratio of 1.29. The stock has a market capitalization of $6.38 billion, a price-to-earnings ratio of 14.71, a P/E/G ratio of 10.29 and a beta of 1.47. The company has a 50-day moving average of $51.50 and a 200-day moving average of $51.02.

About Olin

(Get Free Report)

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.

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