Mizuho Boosts Olin (NYSE:OLN) Price Target to $24.00

Olin (NYSE:OLN) had its price target upped by analysts at Mizuho from $22.00 to $24.00 in a note issued to investors on Tuesday,Benzinga reports. The brokerage currently has a “neutral” rating on the specialty chemicals company’s stock. Mizuho’s target price suggests a potential downside of 7.31% from the company’s current price.

Other research analysts have also issued reports about the stock. Zacks Research lowered shares of Olin from a “hold” rating to a “strong sell” rating in a research note on Thursday, January 29th. Deutsche Bank Aktiengesellschaft reaffirmed a “hold” rating and issued a $26.00 price target on shares of Olin in a research note on Tuesday, February 10th. Royal Bank Of Canada dropped their target price on shares of Olin from $24.00 to $21.00 and set a “sector perform” rating for the company in a report on Monday, February 2nd. Truist Financial dropped their price objective on shares of Olin from $23.00 to $20.00 and set a “hold” rating for the company in a report on Monday, February 2nd. Finally, BMO Capital Markets decreased their price objective on shares of Olin from $25.00 to $24.00 and set a “market perform” rating for the company in a research report on Tuesday, February 3rd. One equities research analyst has rated the stock with a Strong Buy rating, two have given a Buy rating, twelve have given a Hold rating and three have given a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of $23.20.

Olin Trading Up 0.8%

Shares of Olin stock opened at $25.89 on Tuesday. The company has a current ratio of 1.35, a quick ratio of 0.81 and a debt-to-equity ratio of 1.46. Olin has a twelve month low of $17.66 and a twelve month high of $28.67. The firm has a market capitalization of $2.95 billion, a PE ratio of -68.14 and a beta of 1.64. The firm’s 50-day moving average price is $22.62 and its 200 day moving average price is $22.37.

Olin (NYSE:OLN) last issued its quarterly earnings results on Thursday, January 29th. The specialty chemicals company reported ($0.58) EPS for the quarter, hitting the consensus estimate of ($0.58). The firm had revenue of $1.67 billion during the quarter, compared to analysts’ expectations of $1.61 billion. Olin had a negative return on equity of 0.47% and a negative net margin of 0.63%.The firm’s revenue for the quarter was down .4% on a year-over-year basis. During the same period in the previous year, the business earned $0.09 earnings per share. On average, sell-side analysts predict that Olin will post 1.38 EPS for the current fiscal year.

Insider Activity

In other Olin news, CFO Todd A. Slater sold 92,250 shares of the firm’s stock in a transaction dated Tuesday, February 3rd. The stock was sold at an average price of $22.48, for a total value of $2,073,780.00. Following the transaction, the chief financial officer directly 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 transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, VP R Nichole Sumner sold 4,750 shares of the company’s 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 completion of the transaction, the vice president directly owned 24,771 shares of the company’s stock, valued at approximately $557,099.79. The trade was a 16.09% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 101,500 shares of company stock valued at $2,274,478 over the last quarter. Company insiders own 1.70% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently bought and sold shares of OLN. Strategic Advocates LLC acquired a new stake in Olin in the third quarter worth about $25,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. acquired a new position in shares of Olin in the first quarter worth about $32,000. Bessemer Group Inc. boosted its position in shares of Olin by 712.7% in the third quarter. Bessemer Group Inc. now owns 1,341 shares of the specialty chemicals company’s stock worth $34,000 after buying an additional 1,176 shares during the period. Evelyn Partners Investment Management LLP lifted its position in shares of Olin by 6,360.0% in the second quarter. Evelyn Partners Investment Management LLP now owns 1,615 shares of the specialty chemicals company’s stock worth $32,000 after purchasing an additional 1,590 shares in the last quarter. Finally, Allworth Financial LP raised its stake in shares of Olin by 114.0% during the 3rd quarter. Allworth Financial LP now owns 1,740 shares of the specialty chemicals company’s stock worth $43,000 after purchasing an additional 927 shares in the last quarter. Hedge funds and other institutional investors own 88.67% of the company’s stock.

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.