Truist Financial Raises Olin (NYSE:OLN) Price Target to $23.00

Olin (NYSE:OLN) had its price target upped by stock analysts at Truist Financial from $21.00 to $23.00 in a research report issued on Wednesday, Marketbeat.com reports. The firm presently has a “hold” rating on the specialty chemicals company’s stock. Truist Financial’s price objective would indicate a potential upside of 2.00% from the company’s previous close.

Several other research firms also recently issued reports on OLN. KeyCorp dropped their price objective on shares of Olin from $30.00 to $29.00 and set an “overweight” rating on the stock in a report on Wednesday, October 29th. Citigroup upped their price objective on Olin from $21.00 to $24.00 and gave the stock a “neutral” rating in a report on Tuesday, January 13th. BMO Capital Markets set a $25.00 target price on Olin in a research report on Friday, January 9th. Fermium Researc raised shares of Olin to a “strong-buy” rating in a research report on Thursday, September 25th. Finally, Royal Bank Of Canada upped their target price on Olin from $22.00 to $24.00 and gave the stock a “sector perform” rating in a report on Friday, January 16th. One research analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating, eleven have assigned a Hold rating and two have assigned a Sell rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus target price of $24.29.

Olin Stock Performance

Shares of Olin stock opened at $22.55 on Wednesday. The firm has a market cap of $2.57 billion, a PE ratio of 49.02, a price-to-earnings-growth ratio of 2.97 and a beta of 1.64. Olin has a 1 year low of $17.66 and a 1 year high of $34.76. The firm’s 50-day simple moving average is $21.15 and its 200-day simple moving average is $21.97. The company has a debt-to-equity ratio of 1.49, a quick ratio of 0.89 and a current ratio of 1.56.

Olin (NYSE:OLN) last announced its quarterly earnings results on Monday, October 27th. The specialty chemicals company reported $0.40 earnings per share for the quarter, topping analysts’ consensus estimates of $0.09 by $0.31. Olin had a return on equity of 3.36% and a net margin of 0.79%.The business had revenue of $1.71 billion for the quarter, compared to analysts’ expectations of $1.74 billion. During the same period in the prior year, the firm earned ($0.21) EPS. The business’s quarterly revenue was up 7.8% on a year-over-year basis. Equities analysts forecast that Olin will post 1.38 earnings per share for the current fiscal year.

Insider Activity

In other news, VP Teresa M. Vermillion sold 4,500 shares of the stock in a transaction dated Wednesday, November 26th. The shares were sold at an average price of $20.86, for a total transaction of $93,870.00. Following the transaction, the vice president owned 17,199 shares of the company’s stock, valued at $358,771.14. This represents a 20.74% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 1.70% of the stock is owned by company insiders.

Institutional Investors Weigh In On Olin

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. Hotchkis & Wiley Capital Management LLC grew its stake in Olin by 5.5% in the 3rd quarter. Hotchkis & Wiley Capital Management LLC now owns 12,690,488 shares of the specialty chemicals company’s stock valued at $317,135,000 after purchasing an additional 661,730 shares during the period. State Street Corp grew its position in Olin by 1.1% during the second quarter. State Street Corp now owns 4,830,406 shares of the specialty chemicals company’s stock valued at $97,043,000 after buying an additional 50,309 shares during the period. Yacktman Asset Management LP raised its position in Olin by 1.0% in the second quarter. Yacktman Asset Management LP now owns 4,060,376 shares of the specialty chemicals company’s stock worth $81,573,000 after acquiring an additional 40,133 shares during the period. Pzena Investment Management LLC boosted its stake in Olin by 4.5% in the second quarter. Pzena Investment Management LLC now owns 3,829,021 shares of the specialty chemicals company’s stock valued at $76,925,000 after acquiring an additional 166,482 shares during the last quarter. Finally, Ilex Capital Partners UK LLP bought a new position in shares of Olin during the 2nd quarter valued at approximately $50,476,000. 88.67% of the stock is owned by hedge funds and other institutional investors.

Olin Company Profile

Olin Corporation is a diversified manufacturer specializing in chemical products and ammunition. The company’s core business activities encompass the production and distribution of chlor-alkali products, epoxy resins and derivatives, and small-caliber ammunition under the Winchester brand. Olin’s chemical operations supply chlorine, caustic soda and related co-products to a wide range of end markets, including water treatment, pulp and paper, pharmaceuticals and general industrial applications.

In its Chlor Alkali Products & Vinyls segment, Olin operates multiple manufacturing facilities that produce chlorine and sodium hydroxide, along with vinyl chloride monomer and polyvinyl chloride (PVC) compounds.