Olin (NYSE:OLN) Stock Rating Upgraded by Wells Fargo & Company

Olin (NYSE:OLN) was upgraded by research analysts at Wells Fargo & Company from an “equal weight” rating to an “overweight” rating in a research report issued to clients and investors on Monday,Benzinga reports. The firm currently has a $35.00 price target on the specialty chemicals company’s stock, up from their previous price target of $25.00. Wells Fargo & Company‘s target price suggests a potential upside of 22.63% from the company’s previous close.

A number of other analysts have also recently weighed in on the stock. Wall Street Zen cut shares of Olin from a “hold” rating to a “sell” rating in a research note on Saturday, January 10th. Citigroup boosted their target price on shares of Olin from $21.00 to $26.00 and gave the stock a “neutral” rating in a research report on Thursday, March 12th. Weiss Ratings restated a “sell (d+)” rating on shares of Olin in a report on Thursday, January 22nd. Truist Financial lowered their price target on Olin from $23.00 to $20.00 and set a “hold” rating on the stock in a research report on Monday, February 2nd. Finally, Zacks Research lowered Olin from a “hold” rating to a “strong sell” rating in a research note on Thursday, January 29th. One analyst has rated the stock with a Strong Buy rating, three have given a Buy rating, eleven have issued a Hold rating and three have assigned a Sell rating to the company. Based on data from MarketBeat, Olin presently has a consensus rating of “Hold” and a consensus price target of $24.53.

Olin Stock Down 0.1%

Shares of OLN stock opened at $28.54 on Monday. The stock’s 50 day simple moving average is $25.15 and its 200 day simple moving average is $23.13. Olin has a twelve month low of $17.66 and a twelve month high of $30.46. The company has a debt-to-equity ratio of 1.45, a quick ratio of 0.73 and a current ratio of 1.21. The company has a market capitalization of $3.25 billion, a price-to-earnings ratio of -75.11 and a beta of 1.37.

Olin (NYSE:OLN) last announced its earnings results on Thursday, January 29th. The specialty chemicals company reported ($0.58) earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of ($0.58). Olin had a negative return on equity of 0.48% and a negative net margin of 0.63%.The firm had revenue of $1.67 billion during the quarter, compared to analysts’ expectations of $1.61 billion. During the same quarter in the prior year, the business earned $0.09 earnings per share. The company’s revenue was down .4% on a year-over-year basis. As a group, research analysts predict that Olin will post 1.38 EPS for the current year.

Insider Buying and Selling

In other Olin news, VP Angela M. Castle sold 2,379 shares of the business’s stock in a transaction on Tuesday, February 24th. The shares were sold at an average price of $24.25, for a total value of $57,690.75. Following the sale, the vice president owned 1,528 shares of the company’s stock, valued at $37,054. The trade was a 60.89% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, CFO Todd A. Slater sold 92,250 shares of the stock in a transaction on 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 approximately $995,661.68. This represents a 67.56% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold a total of 99,379 shares of company stock valued at $2,238,298 over the last ninety days. 1.60% of the stock is owned by company insiders.

Institutional Trading of Olin

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. Strategic Advocates LLC acquired a new position in Olin in the third quarter worth about $25,000. Rockefeller Capital Management L.P. boosted its holdings in Olin by 115.2% during the fourth quarter. Rockefeller Capital Management L.P. now owns 1,231 shares of the specialty chemicals company’s stock valued at $26,000 after purchasing an additional 659 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. bought a new stake in shares of Olin in the 1st quarter valued at approximately $32,000. Bessemer Group Inc. grew its stake in shares of Olin by 712.7% in the 3rd quarter. Bessemer Group Inc. now owns 1,341 shares of the specialty chemicals company’s stock valued at $34,000 after purchasing an additional 1,176 shares during the period. Finally, Allworth Financial LP raised its holdings in shares of Olin by 114.0% in the 3rd quarter. Allworth Financial LP now owns 1,740 shares of the specialty chemicals company’s stock worth $43,000 after buying an additional 927 shares in the last quarter. Institutional investors own 88.67% of the company’s stock.

About Olin

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.