Olin (NYSE:OLN) Price Target Lowered to $34.00 at BMO Capital Markets

Olin (NYSE:OLN) had its price target decreased by BMO Capital Markets from $44.00 to $34.00 in a report issued on Wednesday,Benzinga reports. BMO Capital Markets currently has a market perform rating on the specialty chemicals company’s stock.

A number of other equities research analysts have also recently commented on OLN. UBS Group dropped their price objective on shares of Olin from $35.00 to $34.00 and set a “neutral” rating on the stock in a research note on Friday, January 31st. Morgan Stanley dropped their price target on shares of Olin from $31.00 to $28.00 and set an “underweight” rating on the stock in a research report on Tuesday. KeyCorp decreased their price objective on shares of Olin from $50.00 to $40.00 and set an “overweight” rating for the company in a research report on Monday. Citigroup dropped their target price on Olin from $48.00 to $45.00 and set a “buy” rating on the stock in a research report on Monday, December 16th. Finally, Piper Sandler reduced their price target on Olin from $51.00 to $41.00 and set an “overweight” rating for the company in a report on Tuesday, January 7th. One equities research analyst has rated the stock with a sell rating, nine have assigned a hold rating and six have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price of $40.94.

Olin Stock Down 3.8 %

NYSE:OLN opened at $26.67 on Wednesday. Olin has a 1-year low of $26.48 and a 1-year high of $60.60. 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 has a market capitalization of $3.11 billion, a P/E ratio of 29.63, a PEG ratio of 0.69 and a beta of 1.45. The company’s fifty day moving average price is $34.92 and its 200-day moving average price is $40.73.

Olin (NYSE:OLN) last issued its quarterly earnings data on Thursday, January 30th. The specialty chemicals company reported $0.09 earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.01) by $0.10. Olin had a return on equity of 5.10% and a net margin of 1.66%. As a group, equities research analysts anticipate that Olin will post 2.47 EPS for the current year.

Olin announced that its Board of Directors has initiated a stock repurchase program on Thursday, December 12th that allows the company to buyback $2.00 billion in outstanding shares. This buyback authorization allows the specialty chemicals company to reacquire up to 45% of its shares through open market purchases. Shares buyback programs are generally an indication that the company’s leadership believes its stock is undervalued.

Insiders Place Their Bets

In other news, VP R Nichole Sumner sold 10,500 shares of the firm’s stock in a transaction dated Friday, November 8th. The shares were sold at an average price of $43.75, for a total value of $459,375.00. Following the transaction, the vice president now directly owns 24,056 shares of the company’s stock, valued at approximately $1,052,450. This trade represents a 30.39 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link. 1.80% of the stock is currently owned by corporate insiders.

Institutional Trading of Olin

A number of hedge funds have recently bought and sold shares of OLN. Harbor Capital Advisors Inc. lifted its position in Olin by 55.5% during the fourth quarter. Harbor Capital Advisors Inc. now owns 143,062 shares of the specialty chemicals company’s stock worth $4,835,000 after buying an additional 51,051 shares in the last quarter. Segall Bryant & Hamill LLC acquired a new stake in shares of Olin in the 3rd quarter worth $916,000. Charles Schwab Investment Management Inc. raised its holdings in shares of Olin by 2.9% during 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 period. Mariner Investment Group LLC acquired a new position in shares of Olin during the 4th quarter valued at about $355,000. Finally, Barclays PLC grew its holdings in shares of Olin by 37.7% in the third quarter. Barclays PLC now owns 125,913 shares of the specialty chemicals company’s stock valued at $6,042,000 after purchasing an additional 34,485 shares during the period. Institutional investors and hedge funds own 88.67% of the company’s stock.

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.