Brokerages Set Olin Co. (NYSE:OLN) PT at $47.07

Shares of Olin Co. (NYSE:OLN) have earned a consensus rating of “Hold” from the fifteen ratings firms that are presently covering the stock, Marketbeat reports. One equities research analyst has rated the stock with a sell recommendation, seven have given a hold recommendation and seven have assigned a buy recommendation to the company. The average 1-year target price among brokers that have covered the stock in the last year is $47.07.

A number of brokerages have recently weighed in on OLN. BMO Capital Markets dropped 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. Bank of America upgraded Olin from a “neutral” rating to a “buy” rating and dropped their price target for the company from $48.00 to $40.00 in a research report on Tuesday, January 14th. Wells Fargo & Company dropped their price target 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. Royal Bank of Canada decreased their price objective on Olin from $52.00 to $48.00 and set an “outperform” rating on the stock in a research note on Tuesday, October 29th. Finally, KeyCorp decreased their price objective on Olin from $56.00 to $50.00 and set an “overweight” rating on the stock in a research note on Friday, January 10th.

Insider Activity

In related news, VP R Nichole Sumner sold 10,500 shares of the firm’s stock in a transaction dated Friday, November 8th. The stock was sold at an average price of $43.75, for a total transaction of $459,375.00. Following the sale, the vice president now directly owns 24,056 shares in the company, valued at approximately $1,052,450. This trade represents a 30.39 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Corporate insiders own 1.60% of the company’s stock.

Institutional Investors Weigh In On Olin

Several hedge funds have recently modified their holdings of the stock. Farther Finance Advisors LLC raised its holdings in shares of Olin by 88.2% during the 3rd 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 during the period. Mirae Asset Global Investments Co. Ltd. raised its holdings 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 valued at $75,000 after buying an additional 318 shares during the period. Entropy Technologies LP increased its holdings in 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 increased its holdings in Olin by 3.0% during the 3rd quarter. Nisa Investment Advisors LLC now owns 11,830 shares of the specialty chemicals company’s stock worth $568,000 after purchasing an additional 350 shares during the last quarter. Finally, First Citizens Bank & Trust Co. increased its holdings in Olin by 8.5% during the 4th quarter. First Citizens Bank & Trust Co. now owns 6,930 shares of the specialty chemicals company’s stock worth $234,000 after purchasing an additional 542 shares during the last quarter. 88.67% of the stock is currently owned by hedge funds and other institutional investors.

Olin Trading Down 2.2 %

Shares of OLN stock opened at $32.71 on Thursday. Olin has a fifty-two week low of $30.69 and a fifty-two week high of $60.60. The stock has a market cap of $3.81 billion, a P/E ratio of 26.38, a P/E/G ratio of 0.78 and a beta of 1.48. The business has a fifty day simple moving average of $36.49 and a 200-day simple moving average of $41.66. The company has a quick ratio of 0.82, a current ratio of 1.40 and a debt-to-equity ratio of 1.32.

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 outstanding 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 often a sign that the company’s board of directors believes its stock is undervalued.

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.