Wells Fargo & Company Downgrades Olin (NYSE:OLN) to Hold

Olin (NYSE:OLN) was downgraded by investment analysts at Wells Fargo & Company from a “strong-buy” rating to a “hold” rating in a research report issued to clients and investors on Monday,Zacks.com reports.

A number of other equities analysts also recently commented on OLN. UBS Group reduced their price objective on shares of Olin from $23.00 to $21.00 and set a “neutral” rating for the company in a research note on Monday. JPMorgan Chase & Co. lowered their target price on Olin from $26.00 to $25.00 and set a “neutral” rating on the stock in a research report on Thursday, June 18th. Mizuho upped their target price on Olin from $23.00 to $24.00 and gave the stock a “neutral” rating in a report on Friday, July 31st. Zacks Research raised Olin from a “strong sell” rating to a “hold” rating in a research report on Monday, April 13th. Finally, Royal Bank Of Canada decreased their price target on Olin from $24.00 to $20.00 and set a “sector perform” rating for the company in a research note on Monday. One research analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating, ten have issued a Hold rating and four have assigned a Sell rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Reduce” and an average price target of $23.08.

Olin Stock Up 2.4%

Shares of OLN stock opened at $19.06 on Monday. The company has a current ratio of 1.42, a quick ratio of 0.87 and a debt-to-equity ratio of 1.77. Olin has a 1 year low of $17.73 and a 1 year high of $30.46. The firm’s fifty day moving average price is $22.43 and its two-hundred day moving average price is $24.69. The firm has a market capitalization of $2.17 billion, a P/E ratio of -15.49 and a beta of 1.22.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of the company. Orbis Allan Gray Ltd increased its stake in shares of Olin by 448.9% during the 4th quarter. Orbis Allan Gray Ltd now owns 3,804,561 shares of the specialty chemicals company’s stock worth $79,249,000 after purchasing an additional 3,111,393 shares during the last quarter. Millennium Management LLC raised its holdings in shares of Olin by 1,063.0% in the 3rd quarter. Millennium Management LLC now owns 2,486,702 shares of the specialty chemicals company’s stock valued at $62,143,000 after purchasing an additional 2,272,877 shares during the period. Semper Augustus Investments Group LLC lifted its stake in Olin by 141.3% in the 3rd quarter. Semper Augustus Investments Group LLC now owns 1,924,245 shares of the specialty chemicals company’s stock valued at $48,087,000 after purchasing an additional 1,126,809 shares during the last quarter. Dimensional Fund Advisors LP lifted its stake in Olin by 22.4% in the 1st quarter. Dimensional Fund Advisors LP now owns 5,627,997 shares of the specialty chemicals company’s stock valued at $167,311,000 after purchasing an additional 1,031,498 shares during the last quarter. Finally, Amundi bought a new position in Olin during the third quarter worth about $24,418,000. Institutional investors own 88.67% of the company’s stock.

About Olin

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.