Olin (NYSE:OLN) Given New $40.00 Price Target at KeyCorp

Olin (NYSE:OLN) had its price objective decreased by KeyCorp from $50.00 to $40.00 in a research note issued on Monday,Benzinga reports. The firm currently has an “overweight” rating on the specialty chemicals company’s stock. KeyCorp’s target price indicates a potential upside of 36.79% from the stock’s previous close.

A number of other research firms have also weighed in on OLN. Truist Financial began coverage on shares of Olin in a research report on Tuesday, January 28th. They set a “hold” rating and a $38.00 price target on the stock. Piper Sandler lowered their target price on Olin from $51.00 to $41.00 and set an “overweight” rating on the stock in a report on Tuesday, January 7th. Wells Fargo & Company cut their price target on Olin from $48.00 to $44.00 and set an “equal weight” rating for the company in a report on Monday, October 28th. BMO Capital Markets lowered their price objective on Olin from $50.00 to $47.00 and set a “market perform” rating on the stock in a research note on Tuesday, October 29th. Finally, Citigroup reduced their price target on Olin from $48.00 to $45.00 and set a “buy” rating on the stock in a report on Monday, December 16th. One analyst has rated the stock with a sell rating, eight have issued a hold rating and seven have issued a buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus price target of $44.81.

Olin Price Performance

NYSE:OLN opened at $29.24 on Monday. Olin has a one year low of $28.80 and a one year high of $60.60. The firm has a market cap of $3.41 billion, a price-to-earnings ratio of 32.49, a PEG ratio of 0.69 and a beta of 1.45. The firm’s fifty day moving average is $35.52 and its two-hundred day moving average is $41.03. 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 issued its quarterly earnings results on Thursday, January 30th. The specialty chemicals company reported $0.09 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.01) by $0.10. Olin had a return on equity of 5.10% and a net margin of 1.66%. Research analysts expect that Olin will post 2.47 EPS for the current year.

Olin declared that its board has authorized a stock repurchase plan on Thursday, December 12th that permits the company to repurchase $2.00 billion in shares. This repurchase authorization permits the specialty chemicals company to repurchase up to 45% of its shares through open market purchases. Shares repurchase plans are generally an indication that the company’s board of directors believes its stock is undervalued.

Insiders Place Their Bets

In related news, VP R Nichole Sumner sold 10,500 shares of the business’s stock in a transaction on Friday, November 8th. The stock was sold at an average price of $43.75, for a total transaction of $459,375.00. Following the completion of the transaction, the vice president now directly owns 24,056 shares of the company’s stock, valued at $1,052,450. The trade was a 30.39 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Insiders own 1.80% of the company’s stock.

Hedge Funds Weigh In On Olin

A number of institutional investors and hedge funds have recently made changes to their positions in OLN. Farther Finance Advisors LLC lifted 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 worth $28,000 after acquiring an additional 276 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. lifted its position in shares of Olin by 26.2% during the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 1,534 shares of the specialty chemicals company’s stock worth $75,000 after purchasing an additional 318 shares during the last quarter. Entropy Technologies LP lifted its position in shares of Olin by 2.5% during the 3rd quarter. Entropy Technologies LP now owns 13,499 shares of the specialty chemicals company’s stock worth $648,000 after purchasing an additional 332 shares during the last quarter. Nisa Investment Advisors LLC raised its stake in Olin by 3.0% in the third quarter. Nisa Investment Advisors LLC now owns 11,830 shares of the specialty chemicals company’s stock valued at $568,000 after buying an additional 350 shares in the last quarter. Finally, Wilmington Savings Fund Society FSB lifted its holdings in Olin by 9.4% during the 4th quarter. Wilmington Savings Fund Society FSB now owns 5,833 shares of the specialty chemicals company’s stock worth $197,000 after buying an additional 500 shares during the last quarter. 88.67% of the stock is owned by institutional investors and hedge funds.

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.