Olin (NYSE:OLN) Price Target Lowered to $28.00 at Barclays

Olin (NYSE:OLN) had its price target reduced by equities research analysts at Barclays from $34.00 to $28.00 in a research report issued on Tuesday,Benzinga reports. The firm presently has an “equal weight” rating on the specialty chemicals company’s stock. Barclays‘s price objective indicates a potential upside of 13.31% from the company’s previous close.

A number of other research firms also recently commented on OLN. Morgan Stanley decreased their target price on Olin from $31.00 to $28.00 and set an “underweight” rating on the stock in a research report on Tuesday, February 4th. KeyCorp lowered their target price on Olin from $50.00 to $40.00 and set an “overweight” rating for the company in a research report on Monday, February 3rd. Truist Financial reduced their price target on shares of Olin from $38.00 to $32.00 and set a “hold” rating on the stock in a research report on Monday, February 3rd. Piper Sandler lowered shares of Olin from an “overweight” rating to a “neutral” rating and lowered their price objective for the company from $41.00 to $33.00 in a research report on Thursday, February 13th. Finally, Royal Bank of Canada cut shares of Olin from an “outperform” rating to a “sector perform” rating and dropped their price objective for the stock from $45.00 to $30.00 in a research note on Tuesday, February 4th. One investment analyst has rated the stock with a sell rating, eleven have given a hold rating and four have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus target price of $36.69.

Olin Trading Up 3.9 %

Shares of OLN opened at $24.71 on Tuesday. Olin has a 1 year low of $22.98 and a 1 year high of $60.60. The company has a 50 day simple moving average of $26.75 and a two-hundred day simple moving average of $35.76. 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 cap of $2.84 billion, a P/E ratio of 27.46 and a beta of 1.61.

Olin (NYSE:OLN) last posted its earnings results on Thursday, January 30th. The specialty chemicals company reported $0.09 earnings per share for the quarter, beating the consensus estimate of ($0.01) by $0.10. Olin had a net margin of 1.66% and a return on equity of 5.10%. On average, equities analysts expect that Olin will post 1.38 earnings per share for the current fiscal year.

Olin declared that its board has initiated a share buyback plan on Thursday, December 12th that allows the company to buyback $2.00 billion in shares. This buyback authorization allows the specialty chemicals company to buy up to 45% of its stock through open market purchases. Stock buyback plans are generally an indication that the company’s leadership believes its shares are undervalued.

Insider Buying and Selling at Olin

In related news, CEO Kenneth Todd Lane acquired 7,250 shares of the firm’s stock in a transaction that occurred on Tuesday, February 4th. The stock was bought at an average price of $28.06 per share, for a total transaction of $203,435.00. Following the acquisition, the chief executive officer now directly owns 7,250 shares of the company’s stock, valued at $203,435. This represents a ∞ increase in their position. The acquisition was disclosed in a document filed with the SEC, which is available at this hyperlink. 1.60% of the stock is currently owned by corporate insiders.

Institutional Trading of Olin

Several institutional investors and hedge funds have recently modified their holdings of the stock. Covestor Ltd increased its holdings in Olin by 45.8% during the 4th quarter. Covestor Ltd now owns 1,334 shares of the specialty chemicals company’s stock worth $45,000 after purchasing an additional 419 shares during the period. Spire Wealth Management increased its stake in shares of Olin by 246.8% during the fourth quarter. Spire Wealth Management now owns 1,616 shares of the specialty chemicals company’s stock valued at $55,000 after buying an additional 1,150 shares during the period. CoreFirst Bank & Trust purchased a new position in shares of Olin during the fourth quarter valued at $66,000. Jones Financial Companies Lllp lifted its stake in Olin by 59.9% in the fourth quarter. Jones Financial Companies Lllp now owns 2,431 shares of the specialty chemicals company’s stock worth $82,000 after acquiring an additional 911 shares during the period. Finally, Blue Trust Inc. grew its holdings in Olin by 34.3% during the 4th quarter. Blue Trust Inc. now owns 2,887 shares of the specialty chemicals company’s stock worth $98,000 after acquiring an additional 738 shares in the last quarter. Institutional investors own 88.67% of the company’s stock.

About Olin

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.