Olin (NYSE:OLN) Given New $34.00 Price Target at UBS Group

Olin (NYSE:OLN) had its target price dropped by equities researchers at UBS Group from $35.00 to $34.00 in a research note issued on Friday,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 16.90% from the stock’s current price.

Several other equities analysts have also issued reports on OLN. Wells Fargo & Company decreased their price objective on Olin from $48.00 to $44.00 and set an “equal weight” rating for the company in a research report on Monday, October 28th. KeyCorp decreased their price objective on Olin from $56.00 to $50.00 and set an “overweight” rating for the company in a research report on Friday, January 10th. Barclays reduced their price target on Olin from $45.00 to $43.00 and set an “equal weight” rating for the company in a research report on Friday, December 13th. BMO Capital Markets reduced their price target on Olin from $50.00 to $47.00 and set a “market perform” rating for the company in a research report on Tuesday, October 29th. Finally, Bank of America raised Olin from a “neutral” rating to a “buy” rating and reduced their price target for the stock from $48.00 to $40.00 in a research report on Tuesday, January 14th. One research analyst has rated the stock with a sell rating, eight have assigned a hold rating and seven have issued a buy rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Hold” and an average target price of $45.44.

Olin Trading Down 9.5 %

Shares of OLN stock traded down $3.06 on Friday, reaching $29.08. The company had a trading volume of 2,780,214 shares, compared to its average volume of 1,454,184. The company has a current ratio of 1.40, a quick ratio of 0.82 and a debt-to-equity ratio of 1.32. The stock has a market cap of $3.39 billion, a PE ratio of 23.44, a PEG ratio of 0.77 and a beta of 1.48. The company has a 50-day moving average of $35.99 and a 200-day moving average of $41.36. Olin has a 12 month low of $28.96 and a 12 month high of $60.60.

Olin (NYSE:OLN) last announced its quarterly earnings results on Thursday, January 30th. The specialty chemicals company reported $0.09 EPS for the quarter, beating analysts’ consensus estimates of ($0.01) by $0.10. Olin had a return on equity of 6.19% and a net margin of 2.33%. On average, equities analysts forecast that Olin will post 0.95 earnings per share for the current year.

Olin declared that its board has authorized a stock repurchase program on Thursday, December 12th that permits the company to buyback $2.00 billion in outstanding shares. This buyback authorization permits the specialty chemicals company to reacquire up to 45% of its stock through open market purchases. Stock buyback programs are often a sign that the company’s board of directors believes its shares are undervalued.

Insiders Place Their Bets

In related news, VP R Nichole Sumner sold 10,500 shares of the firm’s stock in a transaction on Friday, November 8th. The stock was sold at an average price of $43.75, for a total value of $459,375.00. Following the transaction, the vice president now owns 24,056 shares in the company, valued at approximately $1,052,450. This trade represents a 30.39 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 1.60% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of the stock. Farther Finance Advisors LLC boosted its stake in Olin by 88.2% in the third quarter. Farther Finance Advisors LLC now owns 589 shares of the specialty chemicals company’s stock valued at $28,000 after buying an additional 276 shares in the last quarter. Covestor Ltd boosted its stake in Olin by 357.5% in the third quarter. Covestor Ltd now owns 915 shares of the specialty chemicals company’s stock valued at $44,000 after buying an additional 715 shares in the last quarter. Capital Performance Advisors LLP acquired a new stake in Olin in the third quarter valued at about $47,000. Mirae Asset Global Investments Co. Ltd. boosted its stake in Olin by 26.2% in the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 1,534 shares of the specialty chemicals company’s stock valued at $75,000 after buying an additional 318 shares in the last quarter. Finally, UMB Bank n.a. boosted its stake in shares of Olin by 4,862.5% during the third quarter. UMB Bank n.a. now owns 1,588 shares of the specialty chemicals company’s stock valued at $76,000 after purchasing an additional 1,556 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.