Wells Fargo & Company Increases Olin (NYSE:OLN) Price Target to $60.00

Olin (NYSE:OLN - Get Free Report) had its target price raised by stock analysts at Wells Fargo & Company from $56.00 to $60.00 in a research note issued to investors on Wednesday, Benzinga reports. The firm presently has an "equal weight" rating on the specialty chemicals company's stock. Wells Fargo & Company's price objective indicates a potential upside of 0.94% from the stock's current price.

Several other research analysts have also commented on OLN. Deutsche Bank Aktiengesellschaft initiated coverage on shares of Olin in a research note on Thursday, December 7th. They set a "hold" rating and a $52.00 price objective for the company. The Goldman Sachs Group lifted their price objective on shares of Olin from $55.00 to $61.00 and gave the stock a "neutral" rating in a research note on Tuesday, January 30th. Barclays lifted their price objective on shares of Olin from $49.00 to $57.00 and gave the stock an "equal weight" rating in a research note on Monday, January 29th. Stifel Nicolaus lifted their price objective on shares of Olin from $65.00 to $66.00 and gave the stock a "buy" rating in a research note on Monday, January 29th. Finally, KeyCorp boosted their target price on shares of Olin from $61.00 to $66.00 and gave the company an "overweight" rating in a research note on Tuesday, January 9th. Two research analysts have rated the stock with a sell rating, eight have given a hold rating and five have given a buy rating to the stock. Based on data from MarketBeat, Olin has an average rating of "Hold" and a consensus target price of $56.93.

Olin Price Performance

OLN traded up $0.11 during trading hours on Wednesday, hitting $59.44. The company's stock had a trading volume of 877,528 shares, compared to its average volume of 1,077,108. The business's 50-day moving average price is $54.44 and its 200-day moving average price is $50.75. Olin has a 12 month low of $41.71 and a 12 month high of $59.97. The stock has a market cap of $7.11 billion, a price-to-earnings ratio of 16.80, a P/E/G ratio of 0.33 and a beta of 1.44. The company has a current ratio of 1.29, a quick ratio of 0.73 and a debt-to-equity ratio of 1.14.

Olin (NYSE:OLN - Get Free Report) last announced its quarterly earnings results on Thursday, January 25th. The specialty chemicals company reported $0.30 earnings per share for the quarter, topping the consensus estimate of $0.20 by $0.10. Olin had a net margin of 6.74% and a return on equity of 18.44%. The company had revenue of $1.61 billion for the quarter, compared to analysts' expectations of $1.50 billion. Sell-side analysts expect that Olin will post 3.75 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, CEO Scott Mcdougald Sutton sold 539,328 shares of the company's stock in a transaction dated Tuesday, January 30th. The shares were sold at an average price of $53.96, for a total value of $29,102,138.88. Following the completion of the sale, the chief executive officer now directly owns 47,620 shares of the company's stock, valued at $2,569,575.20. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. In other Olin news, VP Valerie A. Peters sold 71,800 shares of the business's stock in a transaction dated Wednesday, January 31st. The shares were sold at an average price of $52.52, for a total value of $3,770,936.00. Following the completion of the transaction, the vice president now directly owns 19,469 shares in the company, valued at $1,022,511.88. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Scott Mcdougald Sutton sold 539,328 shares of the business's stock in a transaction dated Tuesday, January 30th. The stock was sold at an average price of $53.96, for a total transaction of $29,102,138.88. Following the completion of the transaction, the chief executive officer now owns 47,620 shares of the company's stock, valued at $2,569,575.20. The disclosure for this sale can be found here. Insiders sold a total of 753,274 shares of company stock valued at $40,434,124 over the last three months. 1.80% of the stock is owned by company insiders.

Hedge Funds Weigh In On Olin

A number of large investors have recently added to or reduced their stakes in OLN. Vanguard Group Inc. increased its holdings in shares of Olin by 3.2% during the first quarter. Vanguard Group Inc. now owns 15,867,281 shares of the specialty chemicals company's stock valued at $829,542,000 after acquiring an additional 493,052 shares in the last quarter. Hotchkis & Wiley Capital Management LLC increased its holdings in shares of Olin by 3.2% during the fourth quarter. Hotchkis & Wiley Capital Management LLC now owns 6,602,331 shares of the specialty chemicals company's stock valued at $356,196,000 after acquiring an additional 203,260 shares in the last quarter. State Street Corp boosted its position in Olin by 0.6% in the first quarter. State Street Corp now owns 5,581,714 shares of the specialty chemicals company's stock valued at $291,812,000 after buying an additional 31,587 shares during the last quarter. Boston Partners boosted its position in Olin by 122.8% in the fourth quarter. Boston Partners now owns 5,029,377 shares of the specialty chemicals company's stock valued at $271,152,000 after buying an additional 2,772,274 shares during the last quarter. Finally, Dimensional Fund Advisors LP boosted its position in Olin by 3.6% in the fourth quarter. Dimensional Fund Advisors LP now owns 3,635,983 shares of the specialty chemicals company's stock valued at $196,167,000 after buying an additional 126,587 shares during the last quarter. 88.67% of the stock is currently owned by institutional investors.

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.