Olin (NYSE:OLN) Price Target Raised to $25.00

Olin (NYSE:OLN) had its price objective increased by Wells Fargo & Company from $21.00 to $25.00 in a report issued on Friday,Benzinga reports. The brokerage currently has an “equal weight” rating on the specialty chemicals company’s stock. Wells Fargo & Company‘s target price suggests a potential downside of 2.28% from the company’s previous close.

OLN has been the subject of several other research reports. Zacks Research cut Olin from a “hold” rating to a “strong sell” rating in a report on Thursday, January 29th. UBS Group set a $21.00 target price on Olin in a report on Monday, February 2nd. Mizuho raised their target price on Olin from $22.00 to $24.00 and gave the stock a “neutral” rating in a research note on Tuesday, February 17th. Royal Bank Of Canada reduced their price target on Olin from $24.00 to $21.00 and set a “sector perform” rating on the stock in a report on Monday, February 2nd. Finally, Citigroup boosted their price target on shares of Olin from $21.00 to $26.00 and gave the company a “neutral” rating in a research report on Thursday. One investment analyst has rated the stock with a Strong Buy rating, two have given a Buy rating, twelve have assigned a Hold rating and three have assigned a Sell rating to the company. According to data from MarketBeat, the company has an average rating of “Hold” and a consensus target price of $23.73.

Olin Price Performance

Shares of NYSE:OLN traded down $0.43 during midday trading on Friday, hitting $25.58. The company’s stock had a trading volume of 918,669 shares, compared to its average volume of 3,356,939. The company has a market cap of $2.91 billion, a P/E ratio of -67.14 and a beta of 1.56. Olin has a 12-month low of $17.66 and a 12-month high of $27.35. The business’s 50 day simple moving average is $23.84 and its 200 day simple moving average is $22.86. The company has a debt-to-equity ratio of 1.45, a quick ratio of 0.73 and a current ratio of 1.21.

Olin (NYSE:OLN) last released its quarterly earnings data on Thursday, January 29th. The specialty chemicals company reported ($0.58) EPS for the quarter, meeting analysts’ consensus estimates of ($0.58). Olin had a negative net margin of 0.63% and a negative return on equity of 0.48%. The company had revenue of $1.67 billion during the quarter, compared to the consensus estimate of $1.61 billion. During the same quarter in the prior year, the firm earned $0.09 EPS. Olin’s quarterly revenue was down .4% on a year-over-year basis. On average, analysts forecast that Olin will post 1.38 EPS for the current year.

Insider Transactions at Olin

In other Olin news, CFO Todd A. Slater sold 92,250 shares of the stock in a transaction dated Tuesday, February 3rd. The shares were sold at an average price of $22.48, for a total transaction of $2,073,780.00. Following the completion of the transaction, the chief financial officer owned 44,291 shares of the company’s stock, valued at $995,661.68. This trade represents a 67.56% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, VP R Nichole Sumner sold 4,750 shares of Olin stock in a transaction dated Tuesday, February 3rd. The shares were sold at an average price of $22.49, for a total transaction of $106,827.50. Following the sale, the vice president owned 24,771 shares of the company’s stock, valued at approximately $557,099.79. This represents a 16.09% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last ninety days, insiders sold 99,379 shares of company stock worth $2,238,298. 1.60% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Olin

Several large investors have recently made changes to their positions in the stock. Choreo LLC acquired a new position in Olin during the third quarter worth $726,000. Thrivent Financial for Lutherans grew its position in Olin by 6.9% in the 3rd quarter. Thrivent Financial for Lutherans now owns 1,639,624 shares of the specialty chemicals company’s stock valued at $40,974,000 after acquiring an additional 105,484 shares in the last quarter. V. M. Manning & CO. Inc. acquired a new position in Olin in the 2nd quarter valued at about $989,000. Prudential Financial Inc. increased its stake in Olin by 5,469.7% during the second quarter. Prudential Financial Inc. now owns 588,323 shares of the specialty chemicals company’s stock worth $11,819,000 after purchasing an additional 577,760 shares during the period. Finally, Bayforest Capital Ltd acquired a new stake in shares of Olin during the third quarter worth about $770,000. 88.67% of the stock is currently owned by institutional investors and hedge funds.

Olin Company Profile

Olin Corporation is a diversified manufacturer specializing in chemical products and ammunition. The company’s core business activities encompass the production and distribution of chlor-alkali products, epoxy resins and derivatives, and small-caliber ammunition under the Winchester brand. Olin’s chemical operations supply chlorine, caustic soda and related co-products to a wide range of end markets, including water treatment, pulp and paper, pharmaceuticals and general industrial applications.

In its Chlor Alkali Products & Vinyls segment, Olin operates multiple manufacturing facilities that produce chlorine and sodium hydroxide, along with vinyl chloride monomer and polyvinyl chloride (PVC) compounds.