UBS Group Issues Pessimistic Forecast for Olin (NYSE:OLN) Stock Price

Olin (NYSE:OLN) had its price objective cut by research analysts at UBS Group from $34.00 to $21.00 in a research note issued on Monday,Benzinga reports. The firm presently has a “neutral” rating on the specialty chemicals company’s stock. UBS Group’s price target would indicate a potential upside of 17.52% from the stock’s current price.

Other equities research analysts have also recently issued reports about the company. Morgan Stanley reduced their price objective on Olin from $31.00 to $28.00 and set an “underweight” rating for the company in a research report on Tuesday, February 4th. Royal Bank of Canada downgraded shares of Olin from an “outperform” rating to a “sector perform” rating and reduced their price objective for the stock from $45.00 to $30.00 in a report on Tuesday, February 4th. Truist Financial lowered their target price on shares of Olin from $38.00 to $32.00 and set a “hold” rating on the stock in a research note on Monday, February 3rd. Piper Sandler cut their price target on shares of Olin from $33.00 to $26.00 and set a “neutral” rating for the company in a research note on Monday. Finally, KeyCorp lowered their price objective on Olin from $50.00 to $40.00 and set an “overweight” rating on the stock in a research note on Monday, February 3rd. One research analyst has rated the stock with a sell rating, eleven have given a hold rating and four have issued a buy rating to the company. Based on data from MarketBeat, Olin currently has an average rating of “Hold” and an average target price of $35.81.

Olin Trading Down 6.8 %

Shares of NYSE OLN opened at $17.87 on Monday. The business has a 50 day simple moving average of $25.40 and a 200 day simple moving average of $34.91. Olin has a 52 week low of $17.66 and a 52 week high of $59.31. The stock has a market cap of $2.06 billion, a price-to-earnings ratio of 19.85 and a beta of 1.50. The company has a debt-to-equity ratio of 1.32, a quick ratio of 0.77 and a current ratio of 1.27.

Olin (NYSE:OLN) last posted its earnings results on Thursday, January 30th. The specialty chemicals company reported $0.09 EPS for the quarter, topping 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, research analysts predict that Olin will post 1.38 earnings per share for the current fiscal year.

Olin declared that its Board of Directors has approved a stock buyback program on Thursday, December 12th that allows the company to buyback $2.00 billion in shares. This buyback authorization allows the specialty chemicals company to reacquire up to 45% of its stock through open market purchases. Stock buyback programs are typically a sign that the company’s management believes its stock is undervalued.

Insider Activity at Olin

In related news, CEO Kenneth Todd Lane acquired 7,250 shares of the company’s stock in a transaction dated Tuesday, February 4th. The shares were bought at an average price of $28.06 per share, for a total transaction of $203,435.00. Following the purchase, the chief executive officer now directly owns 7,250 shares in the company, valued at approximately $203,435. This trade represents a ∞ increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 1.60% of the stock is owned by insiders.

Hedge Funds Weigh In On Olin

Institutional investors have recently added to or reduced their stakes in the company. Parallel Advisors LLC grew its position in shares of Olin by 767.4% in the 1st quarter. Parallel Advisors LLC now owns 4,224 shares of the specialty chemicals company’s stock valued at $102,000 after acquiring an additional 3,737 shares during the period. GAMMA Investing LLC boosted its stake in shares of Olin by 2,268.4% during the 1st quarter. GAMMA Investing LLC now owns 26,834 shares of the specialty chemicals company’s stock worth $650,000 after acquiring an additional 25,701 shares during the period. Central Pacific Bank Trust Division bought a new position in shares of Olin during the 1st quarter worth approximately $267,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its holdings in shares of Olin by 11.2% during the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 297,425 shares of the specialty chemicals company’s stock worth $10,053,000 after acquiring an additional 29,919 shares during the last quarter. Finally, Voloridge Investment Management LLC bought a new stake in Olin in the 4th quarter valued at $4,692,000. 88.67% of the stock is currently owned by institutional investors and hedge funds.

Olin Company Profile

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.