Olin (NYSE:OLN) Price Target Cut to $34.00 by Analysts at UBS Group

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

A number of other equities research analysts have also recently issued reports on the company. BMO Capital Markets reduced their price objective on Olin from $50.00 to $47.00 and set a “market perform” rating for the company in a report on Tuesday, October 29th. KeyCorp decreased their price objective on Olin from $56.00 to $50.00 and set an “overweight” rating on the stock in a report on Friday, January 10th. Royal Bank of Canada lowered their price objective on Olin from $52.00 to $48.00 and set an “outperform” rating on the stock in a research report on Tuesday, October 29th. Wells Fargo & Company reduced their target price on shares of Olin from $48.00 to $44.00 and set an “equal weight” rating for the company in a research report on Monday, October 28th. Finally, Piper Sandler lowered their price target on shares of Olin from $51.00 to $41.00 and set an “overweight” rating on the stock in a research report on Tuesday, January 7th. One research analyst has rated the stock with a sell rating, eight have assigned a hold rating and seven have assigned a buy rating to the stock. According to MarketBeat, the stock currently has an average rating of “Hold” and an average target price of $45.44.

Olin Stock Down 9.0 %

OLN opened at $29.24 on Friday. The stock’s fifty day simple moving average is $35.52 and its 200 day simple moving average is $41.16. Olin has a 1-year low of $28.80 and a 1-year high of $60.60. The stock has a market cap 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 company has a current ratio of 1.40, a quick ratio of 0.82 and a debt-to-equity ratio of 1.32.

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

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

Insider Transactions at Olin

In other news, VP R Nichole Sumner sold 10,500 shares of the company’s stock in a transaction on Friday, November 8th. The shares were sold at an average price of $43.75, for a total transaction of $459,375.00. Following the completion of the transaction, the vice president now directly 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 sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. 1.60% of the stock is owned by insiders.

Hedge Funds Weigh In On Olin

Institutional investors and hedge funds have recently bought and sold shares of the company. Farther Finance Advisors LLC grew its holdings in shares of Olin by 88.2% during the third quarter. Farther Finance Advisors LLC now owns 589 shares of the specialty chemicals company’s stock worth $28,000 after purchasing an additional 276 shares during the last quarter. Covestor Ltd increased its position in Olin by 357.5% in the 3rd quarter. Covestor Ltd now owns 915 shares of the specialty chemicals company’s stock valued at $44,000 after acquiring an additional 715 shares during the period. Capital Performance Advisors LLP bought a new position in shares of Olin during the third quarter valued at $47,000. Mirae Asset Global Investments Co. Ltd. lifted its holdings in shares of Olin by 26.2% during the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 1,534 shares of the specialty chemicals company’s stock worth $75,000 after purchasing an additional 318 shares during the period. Finally, UMB Bank n.a. grew its stake in shares of Olin by 4,862.5% in the third 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 during the last quarter. Institutional investors and hedge funds own 88.67% of the company’s stock.

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.