Morgan Stanley Cuts Olin (NYSE:OLN) Price Target to $20.00

Olin (NYSE:OLN) had its target price decreased by analysts at Morgan Stanley from $28.00 to $20.00 in a research note issued on Monday,Benzinga reports. The brokerage presently has an “underweight” rating on the specialty chemicals company’s stock. Morgan Stanley’s price objective would suggest a potential downside of 10.99% from the stock’s previous close.

Several other analysts have also weighed in on the company. Wells Fargo & Company increased their price target on Olin from $19.00 to $22.00 and gave the company an “equal weight” rating in a report on Tuesday, May 6th. Piper Sandler lowered their target price on Olin from $33.00 to $26.00 and set a “neutral” rating for the company in a report on Monday, April 7th. Royal Bank of Canada lowered their target price on Olin from $28.00 to $25.00 and set a “sector perform” rating for the company in a report on Monday, May 5th. KeyCorp lowered their target price on Olin from $40.00 to $34.00 and set an “overweight” rating for the company in a report on Monday, April 14th. Finally, Mizuho set a $23.00 price objective on Olin in a research note on Tuesday, April 15th. One research analyst has rated the stock with a sell rating, eleven have issued a hold rating and three have issued a buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average target price of $28.07.

Olin Stock Down 1.7%

Shares of OLN stock opened at $22.47 on Monday. The company has a market capitalization of $2.59 billion, a price-to-earnings ratio of 24.97 and a beta of 1.56. Olin has a one year low of $17.66 and a one year high of $57.10. The company’s fifty day moving average price is $22.38 and its 200-day moving average price is $30.42. The company has a debt-to-equity ratio of 1.32, a current ratio of 1.27 and a quick ratio of 0.77.

Olin (NYSE:OLN) last announced its quarterly earnings results on Thursday, May 1st. The specialty chemicals company reported $0.04 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.10) by $0.14. The company had revenue of $1.64 billion for the quarter, compared to the consensus estimate of $1.58 billion. Olin had a net margin of 1.66% and a return on equity of 5.10%. Olin’s revenue for the quarter was up 1.2% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.40 EPS. Sell-side analysts expect that Olin will post 1.38 EPS for the current fiscal year.

Institutional Trading of Olin

Several large investors have recently made changes to their positions in the company. Thrivent Financial for Lutherans grew its holdings in Olin by 5,746.2% in the 4th quarter. Thrivent Financial for Lutherans now owns 1,613,796 shares of the specialty chemicals company’s stock valued at $54,546,000 after buying an additional 1,586,192 shares in the last quarter. Norges Bank purchased a new stake in shares of Olin in the 4th quarter valued at approximately $47,887,000. Dimensional Fund Advisors LP grew its stake in shares of Olin by 14.3% in the 1st quarter. Dimensional Fund Advisors LP now owns 4,546,352 shares of the specialty chemicals company’s stock valued at $110,204,000 after buying an additional 569,483 shares during the period. Fuller & Thaler Asset Management Inc. grew its stake in shares of Olin by 11.5% in the 4th quarter. Fuller & Thaler Asset Management Inc. now owns 4,543,844 shares of the specialty chemicals company’s stock valued at $153,582,000 after buying an additional 467,680 shares during the period. Finally, Two Sigma Investments LP grew its stake in shares of Olin by 890.4% in the 4th quarter. Two Sigma Investments LP now owns 451,020 shares of the specialty chemicals company’s stock valued at $15,244,000 after buying an additional 405,480 shares during the period. 88.67% of the stock is currently owned by hedge funds and other institutional investors.

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.