Olin (NYSE:OLN) Price Target Lowered to $20.00 at JPMorgan Chase & Co.

Olin (NYSE:OLN - Get Free Report) had its target price lowered by equities researchers at JPMorgan Chase & Co. from $28.00 to $20.00 in a report released on Tuesday,Benzinga reports. The brokerage currently has a "neutral" rating on the specialty chemicals company's stock. JPMorgan Chase & Co.'s price target points to a potential downside of 2.25% from the stock's previous close.

Several other brokerages have also recently weighed in on OLN. BMO Capital Markets decreased their price target on Olin from $44.00 to $34.00 and set a "market perform" rating on the stock in a research report on Wednesday, February 5th. Bank of America raised shares of Olin from a "neutral" rating to a "buy" rating and reduced their price objective for the company from $48.00 to $40.00 in a research report on Tuesday, January 14th. Barclays dropped their target price on shares of Olin from $34.00 to $28.00 and set an "equal weight" rating on the stock in a report on Tuesday, April 1st. Piper Sandler cut their price target on Olin from $33.00 to $26.00 and set a "neutral" rating for the company in a report on Monday, April 7th. Finally, Wells Fargo & Company upped their price target on shares of Olin from $19.00 to $22.00 and gave the stock an "equal weight" rating in a research report on Tuesday. One investment analyst has rated the stock with a sell rating, eleven have issued a hold rating and three have issued a buy rating to the company's stock. Based on data from MarketBeat, Olin presently has an average rating of "Hold" and an average target price of $30.20.

Olin Price Performance

Shares of Olin stock traded down $0.18 during trading on Tuesday, reaching $20.46. 496,641 shares of the company's stock were exchanged, compared to its average volume of 1,566,132. The firm's 50-day moving average price is $22.76 and its 200 day moving average price is $31.29. The company has a market cap of $2.35 billion, a P/E ratio of 22.74 and a beta of 1.56. The company has a debt-to-equity ratio of 1.32, a quick ratio of 0.77 and a current ratio of 1.27. Olin has a 1-year low of $17.66 and a 1-year high of $57.10.

Olin (NYSE:OLN - Get Free Report) last announced its quarterly earnings results on Thursday, May 1st. The specialty chemicals company reported $0.04 earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.10) by $0.14. The firm had revenue of $1.64 billion during the quarter, compared to analysts' expectations of $1.58 billion. Olin had a net margin of 1.66% and a return on equity of 5.10%. The company's revenue was up 1.2% on a year-over-year basis. During the same period in the prior year, the company posted $0.40 EPS. As a group, research analysts anticipate that Olin will post 1.38 earnings per share for the current year.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in OLN. Fuller & Thaler Asset Management Inc. lifted its position in Olin by 11.5% during the fourth quarter. Fuller & Thaler Asset Management Inc. now owns 4,543,844 shares of the specialty chemicals company's stock worth $153,582,000 after acquiring an additional 467,680 shares during the last quarter. Yacktman Asset Management LP grew its stake in shares of Olin by 3.1% in the 1st quarter. Yacktman Asset Management LP now owns 4,020,243 shares of the specialty chemicals company's stock valued at $97,451,000 after buying an additional 122,247 shares during the period. Dimensional Fund Advisors LP boosted its position in shares of Olin by 4.7% during the fourth quarter. Dimensional Fund Advisors LP now owns 3,976,869 shares of the specialty chemicals company's stock valued at $134,413,000 after buying an additional 178,145 shares during the last quarter. Pzena Investment Management LLC increased its position in shares of Olin by 7.4% during the 4th quarter. Pzena Investment Management LLC now owns 3,709,611 shares of the specialty chemicals company's stock valued at $125,385,000 after purchasing an additional 256,903 shares during the last quarter. Finally, Millennium Management LLC raised its position in Olin by 9.1% in the fourth quarter. Millennium Management LLC now owns 3,201,233 shares of the specialty chemicals company's stock worth $108,202,000 after acquiring an additional 265,745 shares during the period. 88.67% of the stock is currently owned by institutional investors.

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.

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