Olin (NYSE:OLN) Price Target Cut to $34.00 by Analysts at BMO Capital Markets

Olin (NYSE:OLN) had its price target trimmed by BMO Capital Markets from $44.00 to $34.00 in a report released on Wednesday,Benzinga reports. The firm currently has a market perform rating on the specialty chemicals company’s stock.

Other analysts have also recently issued research reports about the stock. Piper Sandler decreased their price target on shares of Olin from $51.00 to $41.00 and set an “overweight” rating for the company in a research note on Tuesday, January 7th. KeyCorp decreased their target price on shares of Olin from $50.00 to $40.00 and set an “overweight” rating for the company in a research note on Monday, February 3rd. Wells Fargo & Company dropped their price target on Olin from $40.00 to $31.00 and set an “equal weight” rating on the stock in a research report on Monday, February 3rd. Citigroup decreased their price objective on Olin from $48.00 to $45.00 and set a “buy” rating for the company in a research report on Monday, December 16th. Finally, Bank of America raised Olin from a “neutral” rating to a “buy” rating and dropped their target price for the company from $48.00 to $40.00 in a report on Tuesday, January 14th. One equities research analyst has rated the stock with a sell rating, nine have assigned a hold rating and six have assigned a buy rating to the stock. According to MarketBeat.com, Olin presently has a consensus rating of “Hold” and an average price target of $40.94.

Olin Stock Down 0.8 %

OLN opened at $28.23 on Wednesday. The stock has a market capitalization of $3.29 billion, a P/E ratio of 31.37, a price-to-earnings-growth ratio of 0.69 and a beta of 1.45. 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 has a one year low of $26.48 and a one year high of $60.60. The business’s 50-day simple moving average is $34.32 and its 200-day simple moving average is $40.55.

Olin (NYSE:OLN) last released its quarterly 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 return on equity of 5.10% and a net margin of 1.66%. Analysts anticipate that Olin will post 2.47 EPS for the current year.

Olin declared that its board has authorized a share buyback program on Thursday, December 12th that authorizes the company to buyback $2.00 billion in outstanding shares. This buyback authorization authorizes the specialty chemicals company to purchase up to 45% of its shares through open market purchases. Shares buyback programs are often an indication that the company’s leadership believes its stock is undervalued.

Insider Activity

In other news, CEO Kenneth Todd Lane purchased 7,250 shares of the stock in a transaction that occurred on Tuesday, February 4th. The shares were acquired 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 in the company, valued at approximately $203,435. The trade was a ∞ increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Insiders own 1.60% of the company’s stock.

Institutional Trading of Olin

Institutional investors have recently bought and sold shares of the company. Sei Investments Co. increased its position in shares of Olin by 5.6% in the second quarter. Sei Investments Co. now owns 12,161 shares of the specialty chemicals company’s stock valued at $573,000 after buying an additional 640 shares in the last quarter. CWM LLC grew its stake in Olin by 18.0% in the 3rd quarter. CWM LLC now owns 8,668 shares of the specialty chemicals company’s stock valued at $416,000 after acquiring an additional 1,324 shares during the last quarter. UMB Bank n.a. increased its holdings in Olin by 4,862.5% during the 3rd quarter. UMB Bank n.a. now owns 1,588 shares of the specialty chemicals company’s stock valued at $76,000 after acquiring an additional 1,556 shares in the last quarter. Merrion Investment Management Co LLC purchased a new position in Olin during the 3rd quarter valued at about $579,000. Finally, Wedge Capital Management L L P NC raised its position in Olin by 36.6% during the third quarter. Wedge Capital Management L L P NC now owns 50,613 shares of the specialty chemicals company’s stock worth $2,428,000 after acquiring an additional 13,557 shares during the last quarter. 88.67% of the stock is currently owned by hedge funds and other institutional investors.

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.