Olin (NYSE:OLN) PT Raised to $69.00

Olin (NYSE:OLN - Get Free Report) had its price target boosted by investment analysts at Stifel Nicolaus from $68.00 to $69.00 in a research report issued on Monday, Benzinga reports. The brokerage currently has a "buy" rating on the specialty chemicals company's stock. Stifel Nicolaus' target price points to a potential upside of 28.88% from the company's current price.

A number of other equities analysts have also commented on the stock. KeyCorp decreased their price target on shares of Olin from $78.00 to $73.00 and set an "overweight" rating on the stock in a report on Monday. The Goldman Sachs Group increased their target price on shares of Olin from $55.00 to $61.00 and gave the company a "neutral" rating in a report on Tuesday, January 30th. Bank of America reduced their target price on shares of Olin from $74.00 to $72.00 and set a "buy" rating on the stock in a report on Monday. Piper Sandler increased their target price on shares of Olin from $72.00 to $75.00 and gave the company an "overweight" rating in a report on Monday. Finally, Wells Fargo & Company increased their target price on shares of Olin from $56.00 to $60.00 and gave the company an "equal weight" rating in a report on Wednesday, April 3rd. Two research analysts have rated the stock with a sell rating, eight have issued a hold rating and six have assigned a buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of "Hold" and a consensus target price of $60.00.

Olin Price Performance

NYSE OLN traded up $0.06 on Monday, hitting $53.54. The stock had a trading volume of 1,378,119 shares, compared to its average volume of 1,033,109. The firm has a 50-day moving average of $55.63 and a 200-day moving average of $51.67. The company has a market capitalization of $6.41 billion, a price-to-earnings ratio of 19.25, a price-to-earnings-growth ratio of 0.29 and a beta of 1.44. Olin has a 52-week low of $41.71 and a 52-week high of $60.60. The company has a debt-to-equity ratio of 1.22, a quick ratio of 0.80 and a current ratio of 1.38.

Olin (NYSE:OLN - Get Free Report) last issued its quarterly earnings results on Friday, April 26th. The specialty chemicals company reported $0.40 EPS for the quarter, topping analysts' consensus estimates of $0.38 by $0.02. The firm had revenue of $1.64 billion for the quarter, compared to analyst estimates of $1.65 billion. Olin had a net margin of 5.32% and a return on equity of 14.47%. The business's revenue for the quarter was down 11.3% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $1.16 EPS. Equities analysts expect that Olin will post 3.73 EPS for the current year.

Insider Buying and Selling at Olin

In related news, CEO Scott Mcdougald Sutton sold 539,328 shares of the business's stock in a transaction that occurred on Tuesday, January 30th. The shares were sold at an average price of $53.96, for a total transaction of $29,102,138.88. Following the completion of the sale, the chief executive officer now directly owns 47,620 shares in the company, valued at $2,569,575.20. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In other news, VP Valerie A. Peters sold 71,800 shares of the business's stock in a transaction on 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 transaction, the vice president now owns 19,469 shares of the company's stock, valued at $1,022,511.88. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, CEO Scott Mcdougald Sutton sold 539,328 shares of the business's stock in a transaction on 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 directly owns 47,620 shares in the company, valued at approximately $2,569,575.20. The disclosure for this sale can be found here. In the last ninety days, insiders sold 753,274 shares of company stock worth $40,434,124. 1.80% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Olin

Hedge funds have recently modified their holdings of the stock. South Dakota Investment Council increased its position in Olin by 279.8% in the fourth quarter. South Dakota Investment Council now owns 60,392 shares of the specialty chemicals company's stock worth $3,258,000 after purchasing an additional 44,492 shares during the last quarter. Quantbot Technologies LP increased its position in Olin by 153.2% in the third quarter. Quantbot Technologies LP now owns 24,674 shares of the specialty chemicals company's stock worth $1,233,000 after purchasing an additional 14,928 shares during the last quarter. Coombe Bender & Co LLC increased its position in Olin by 20.8% in the third quarter. Coombe Bender & Co LLC now owns 90,977 shares of the specialty chemicals company's stock worth $4,547,000 after purchasing an additional 15,645 shares during the last quarter. AdvisorShares Investments LLC bought a new stake in Olin in the third quarter worth $361,000. Finally, Cerity Partners LLC bought a new position in Olin during the fourth quarter valued at $2,613,000. Hedge funds and other institutional investors own 88.67% of the company's stock.

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.