Olin (NYSE:OLN) Given New $24.00 Price Target at Mizuho

Olin (NYSE:OLN) had its price objective hoisted by Mizuho from $22.00 to $24.00 in a research note published on Tuesday, Marketbeat Ratings reports. The brokerage currently has a neutral rating on the specialty chemicals company’s stock.

A number of other analysts have also issued reports on OLN. Royal Bank Of Canada lowered their target price on Olin from $24.00 to $21.00 and set a “sector perform” rating on the stock in a report on Monday, February 2nd. Truist Financial lowered their price objective on shares of Olin from $23.00 to $20.00 and set a “hold” rating on the stock in a research note on Monday, February 2nd. KeyCorp cut their target price on shares of Olin from $29.00 to $26.00 and set an “overweight” rating for the company in a research note on Monday, February 2nd. Deutsche Bank Aktiengesellschaft restated a “hold” rating and issued a $26.00 price target on shares of Olin in a research report on Tuesday, February 10th. Finally, Wells Fargo & Company cut their price objective on shares of Olin from $25.00 to $22.00 and set an “equal weight” rating for the company in a research report on Wednesday, October 29th. One equities research analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating, twelve have issued a Hold rating and three have assigned a Sell rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of $23.20.

Olin Stock Performance

Shares of OLN opened at $23.84 on Tuesday. The company has a market capitalization of $2.72 billion, a PE ratio of -62.74 and a beta of 1.64. The company has a debt-to-equity ratio of 1.46, a current ratio of 1.35 and a quick ratio of 0.81. Olin has a one year low of $17.66 and a one year high of $28.63. The company’s fifty day moving average price is $22.69 and its 200 day moving average price is $22.41.

Olin (NYSE:OLN) last released its quarterly earnings results on Thursday, January 29th. The specialty chemicals company reported ($0.58) earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of ($0.58). The company had revenue of $1.67 billion during the quarter, compared to analysts’ expectations of $1.61 billion. Olin had a negative net margin of 0.63% and a negative return on equity of 0.47%. The business’s quarterly revenue was down .4% compared to the same quarter last year. During the same period in the prior year, the company earned $0.09 earnings per share. As a group, analysts expect that Olin will post 1.38 earnings per share for the current year.

Insider Activity at Olin

In other Olin news, VP Teresa M. Vermillion sold 4,500 shares of the firm’s 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 completion of the transaction, the vice president owned 17,199 shares in the company, valued at $358,771.14. This trade represents a 20.74% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CFO Todd A. Slater sold 92,250 shares of Olin stock in a transaction that occurred on Tuesday, February 3rd. The shares were sold at an average price of $22.48, for a total value of $2,073,780.00. Following the sale, the chief financial officer directly owned 44,291 shares in the company, valued at $995,661.68. The trade was a 67.56% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold a total of 101,500 shares of company stock valued at $2,274,478 over the last quarter. 1.70% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Several hedge funds have recently bought and sold shares of the stock. Covestor Ltd boosted its stake in shares of Olin by 10.6% in the 4th quarter. Covestor Ltd now owns 5,189 shares of the specialty chemicals company’s stock valued at $108,000 after purchasing an additional 497 shares in the last quarter. ARGA Investment Management LP lifted its holdings in Olin by 0.9% during the 3rd quarter. ARGA Investment Management LP now owns 60,359 shares of the specialty chemicals company’s stock valued at $1,508,000 after purchasing an additional 546 shares during the last quarter. Madison Asset Management LLC boosted its position in Olin by 0.6% in the fourth quarter. Madison Asset Management LLC now owns 97,616 shares of the specialty chemicals company’s stock valued at $2,033,000 after buying an additional 555 shares in the last quarter. Wilmington Savings Fund Society FSB grew its stake in Olin by 9.9% during the third quarter. Wilmington Savings Fund Society FSB now owns 6,412 shares of the specialty chemicals company’s stock worth $160,000 after buying an additional 579 shares during the last quarter. Finally, FORA Capital LLC grew its stake in Olin by 2.6% during the second quarter. FORA Capital LLC now owns 24,453 shares of the specialty chemicals company’s stock worth $491,000 after buying an additional 625 shares during the last quarter. 88.67% of the stock is currently owned by institutional investors and hedge funds.

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.