Olin (NYSE:OLN) Price Target Lowered to $51.00 at Piper Sandler

Olin (NYSE:OLN) had its price objective decreased by investment analysts at Piper Sandler from $57.00 to $51.00 in a research note issued on Wednesday, Benzinga reports. The firm currently has an “overweight” rating on the specialty chemicals company’s stock. Piper Sandler’s price objective points to a potential upside of 23.61% from the stock’s previous close.

OLN has been the subject of a number of other reports. Mizuho assumed coverage on Olin in a research note on Thursday, August 8th. They issued a “neutral” rating and a $45.00 price target for the company. KeyCorp dropped their price target on shares of Olin from $57.00 to $56.00 and set an “overweight” rating on the stock in a research report on Monday. Royal Bank of Canada decreased their price objective on shares of Olin from $52.00 to $48.00 and set an “outperform” rating for the company in a research report on Tuesday. The Goldman Sachs Group dropped their target price on shares of Olin from $55.00 to $49.00 and set a “neutral” rating on the stock in a report on Monday, July 29th. Finally, Deutsche Bank Aktiengesellschaft reduced their price target on Olin from $57.00 to $48.00 and set a “hold” rating for the company in a report on Monday, July 29th. One investment analyst has rated the stock with a sell rating, eight have assigned a hold rating and six have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average target price of $50.93.

Olin Stock Up 0.9 %

NYSE:OLN traded up $0.37 on Wednesday, hitting $41.26. 260,772 shares of the company’s stock were exchanged, compared to its average volume of 1,160,879. The company has a market cap of $4.85 billion, a P/E ratio of 33.27, a price-to-earnings-growth ratio of 1.01 and a beta of 1.41. The firm has a 50-day moving average price of $44.72 and a 200-day moving average price of $47.88. The company has a debt-to-equity ratio of 1.32, a current ratio of 1.40 and a quick ratio of 0.82. Olin has a 52 week low of $39.47 and a 52 week high of $60.60.

Institutional Investors Weigh In On Olin

Several hedge funds have recently added to or reduced their stakes in the business. Boston Partners increased its stake in shares of Olin by 7.7% in the first quarter. Boston Partners now owns 5,414,265 shares of the specialty chemicals company’s stock valued at $317,897,000 after buying an additional 384,888 shares during the period. Dimensional Fund Advisors LP raised its position in shares of Olin by 5.5% in the 2nd quarter. Dimensional Fund Advisors LP now owns 3,741,007 shares of the specialty chemicals company’s stock worth $176,396,000 after acquiring an additional 194,755 shares in the last quarter. Bank of New York Mellon Corp lifted its stake in shares of Olin by 2.5% in the 2nd quarter. Bank of New York Mellon Corp now owns 1,373,519 shares of the specialty chemicals company’s stock valued at $64,761,000 after purchasing an additional 33,143 shares during the period. Allspring Global Investments Holdings LLC boosted its position in shares of Olin by 2.4% during the 3rd quarter. Allspring Global Investments Holdings LLC now owns 1,061,001 shares of the specialty chemicals company’s stock valued at $50,907,000 after purchasing an additional 25,163 shares in the last quarter. Finally, Clearbridge Investments LLC increased its holdings in Olin by 4.8% in the first quarter. Clearbridge Investments LLC now owns 777,658 shares of the specialty chemicals company’s stock worth $45,726,000 after purchasing an additional 35,637 shares in the last quarter. 88.67% of the stock is currently 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.