Olin Co. (NYSE:OLN) Receives $40.44 Consensus Target Price from Analysts

Olin Co. (NYSE:OLN) has received a consensus recommendation of “Hold” from the sixteen ratings firms that are presently covering the company, Marketbeat Ratings reports. One equities research analyst has rated the stock with a sell recommendation, ten have given a hold recommendation and five have issued a buy recommendation on the company. The average 12-month price target among brokerages that have updated their coverage on the stock in the last year is $40.44.

Several brokerages recently weighed in on OLN. KeyCorp cut their price target on Olin from $50.00 to $40.00 and set an “overweight” rating for the company in a research note on Monday, February 3rd. Truist Financial cut their price objective on Olin from $38.00 to $32.00 and set a “hold” rating for the company in a research report on Monday, February 3rd. Wells Fargo & Company decreased their target price on Olin from $40.00 to $31.00 and set an “equal weight” rating on the stock in a research report on Monday, February 3rd. UBS Group cut their price target on shares of Olin from $35.00 to $34.00 and set a “neutral” rating for the company in a report on Friday, January 31st. Finally, BMO Capital Markets decreased their price objective on shares of Olin from $44.00 to $34.00 and set a “market perform” rating on the stock in a report on Wednesday, February 5th.

Insider Activity at Olin

In other Olin news, CEO Kenneth Todd Lane acquired 7,250 shares of the stock in a transaction that occurred on Tuesday, February 4th. The stock was bought at an average cost of $28.06 per share, for a total transaction of $203,435.00. Following the completion of the transaction, the chief executive officer now owns 7,250 shares of the company’s stock, valued at approximately $203,435. The trade was a ∞ increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. 1.80% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Olin

Several large investors have recently modified their holdings of OLN. Blue Trust Inc. raised its holdings in Olin by 34.3% in the 4th quarter. Blue Trust Inc. now owns 2,887 shares of the specialty chemicals company’s stock valued at $98,000 after buying an additional 738 shares during the period. Harbor Capital Advisors Inc. increased its position in shares of Olin by 55.5% during the fourth quarter. Harbor Capital Advisors Inc. now owns 143,062 shares of the specialty chemicals company’s stock valued at $4,835,000 after acquiring an additional 51,051 shares during the last quarter. Segall Bryant & Hamill LLC purchased a new stake in shares of Olin in the 3rd quarter valued at approximately $916,000. Charles Schwab Investment Management Inc. lifted its holdings in shares of Olin by 2.9% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 1,295,699 shares of the specialty chemicals company’s stock worth $62,168,000 after acquiring an additional 37,043 shares during the last quarter. Finally, KBC Group NV boosted its position in shares of Olin by 82.9% during the 4th quarter. KBC Group NV now owns 5,461 shares of the specialty chemicals company’s stock worth $185,000 after purchasing an additional 2,476 shares during the period. Institutional investors and hedge funds own 88.67% of the company’s stock.

Olin Price Performance

Shares of NYSE OLN opened at $27.68 on Monday. The company has a debt-to-equity ratio of 1.32, a current ratio of 1.27 and a quick ratio of 0.77. The firm’s 50 day simple moving average is $31.92 and its 200-day simple moving average is $39.39. Olin has a 12 month low of $26.48 and a 12 month high of $60.60. The stock has a market capitalization of $3.23 billion, a price-to-earnings ratio of 30.76 and a beta of 1.45.

Olin (NYSE:OLN) last released its quarterly earnings results on Thursday, January 30th. The specialty chemicals company reported $0.09 EPS for the quarter, beating the consensus estimate of ($0.01) by $0.10. Olin had a net margin of 1.66% and a return on equity of 5.10%. Analysts expect that Olin will post 1.38 EPS for the current year.

Olin declared that its board has approved a stock repurchase program on Thursday, December 12th that authorizes the company to buyback $2.00 billion in outstanding shares. This buyback authorization authorizes the specialty chemicals company to buy up to 45% of its stock through open market purchases. Stock buyback programs are often an indication that the company’s leadership believes its shares are undervalued.

Olin Company Profile

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.