Truist Financial Increases Olin (NYSE:OLN) Price Target to $26.00

Olin (NYSE:OLN) had its target price hoisted by stock analysts at Truist Financial from $20.00 to $26.00 in a research note issued to investors on Monday,Benzinga reports. The firm presently has a “hold” rating on the specialty chemicals company’s stock. Truist Financial’s price objective suggests a potential downside of 7.83% from the stock’s previous close.

Several other equities research analysts have also issued reports on the stock. Mizuho raised their price target on shares of Olin from $24.00 to $26.00 and gave the stock a “neutral” rating in a research note on Tuesday, March 31st. KeyCorp decreased their price target on shares of Olin from $29.00 to $26.00 and set an “overweight” rating for the company in a research note on Monday, February 2nd. Wall Street Zen upgraded shares of Olin from a “sell” rating to a “hold” rating in a research note on Saturday, April 11th. Wells Fargo & Company restated an “overweight” rating and set a $37.00 price target on shares of Olin in a research note on Sunday. Finally, Citigroup raised their price objective on shares of Olin from $26.00 to $30.00 and gave the stock a “neutral” rating in a report on Thursday, April 16th. One analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating, nine have given a Hold rating and two have issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, Olin has an average rating of “Hold” and an average price target of $27.50.

Olin Stock Performance

Shares of OLN stock traded up $1.37 during trading hours on Monday, hitting $28.21. 393,538 shares of the company were exchanged, compared to its average volume of 2,988,271. The firm has a fifty day simple moving average of $26.79 and a 200 day simple moving average of $23.68. The company has a current ratio of 1.36, a quick ratio of 0.82 and a debt-to-equity ratio of 1.73. Olin has a 52-week low of $18.08 and a 52-week high of $30.46. The stock has a market capitalization of $3.21 billion, a price-to-earnings ratio of -25.16 and a beta of 1.21.

Insider Buying and Selling

In related news, VP Angela M. Castle sold 2,379 shares of the firm’s stock in a transaction that occurred 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 completion of the transaction, the vice president directly owned 1,528 shares of the company’s stock, valued at approximately $37,054. This trade represents a 60.89% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Company insiders own 1.60% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently bought and sold shares of the business. Hotchkis & Wiley Capital Management LLC boosted its holdings in Olin by 5.5% in the 3rd quarter. Hotchkis & Wiley Capital Management LLC now owns 12,690,488 shares of the specialty chemicals company’s stock valued at $317,135,000 after purchasing an additional 661,730 shares during the period. Dimensional Fund Advisors LP boosted its holdings in Olin by 22.4% in the 1st quarter. Dimensional Fund Advisors LP now owns 5,627,997 shares of the specialty chemicals company’s stock valued at $167,311,000 after purchasing an additional 1,031,498 shares during the period. State Street Corp boosted its holdings in Olin by 1.1% in the 2nd quarter. State Street Corp now owns 4,830,406 shares of the specialty chemicals company’s stock valued at $97,043,000 after purchasing an additional 50,309 shares during the period. Pzena Investment Management LLC boosted its holdings in Olin by 17.5% in the 4th quarter. Pzena Investment Management LLC now owns 4,507,913 shares of the specialty chemicals company’s stock valued at $93,900,000 after purchasing an additional 671,250 shares during the period. Finally, Orbis Allan Gray Ltd boosted its holdings in Olin by 448.9% in the 4th quarter. Orbis Allan Gray Ltd now owns 3,804,561 shares of the specialty chemicals company’s stock valued at $79,249,000 after purchasing an additional 3,111,393 shares during the period. 88.67% of the stock is owned by institutional investors.

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.