KeyCorp Has Lowered Expectations for Olin (NYSE:OLN) Stock Price

Olin (NYSE:OLN) had its target price cut by research analysts at KeyCorp from $50.00 to $40.00 in a research report issued on Monday,Benzinga reports. The brokerage currently has an “overweight” rating on the specialty chemicals company’s stock. KeyCorp’s target price indicates a potential upside of 44.12% from the stock’s current price.

A number of other analysts have also recently weighed in on the company. Truist Financial started coverage on Olin in a research note on Tuesday, January 28th. They issued a “hold” rating and a $38.00 price target on the stock. Citigroup decreased their target price on Olin from $48.00 to $45.00 and set a “buy” rating for the company in a research note on Monday, December 16th. Piper Sandler dropped their price target on shares of Olin from $51.00 to $41.00 and set an “overweight” rating on the stock in a research note on Tuesday, January 7th. Wells Fargo & Company cut their price objective on shares of Olin from $48.00 to $44.00 and set an “equal weight” rating on the stock in a report on Monday, October 28th. Finally, BMO Capital Markets lowered their target price on shares of Olin from $50.00 to $47.00 and set a “market perform” rating for the company in a report on Tuesday, October 29th. One equities research analyst has rated the stock with a sell rating, nine have given a hold rating and six have issued a buy rating to the company’s stock. According to data from MarketBeat.com, Olin has a consensus rating of “Hold” and a consensus target price of $41.75.

Olin Stock Up 0.0 %

Shares of OLN opened at $27.76 on Monday. The company’s 50-day simple moving average is $34.92 and its 200-day simple moving average is $40.73. 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 $27.15 and a 1 year high of $60.60. The stock has a market capitalization of $3.24 billion, a PE ratio of 30.84, a P/E/G ratio of 0.69 and a beta of 1.45.

Olin (NYSE:OLN) last posted its quarterly earnings results on Thursday, January 30th. The specialty chemicals company reported $0.09 EPS for the quarter, topping the consensus estimate of ($0.01) by $0.10. Olin had a net margin of 1.66% and a return on equity of 5.10%. Analysts forecast that Olin will post 2.47 earnings per share for the current fiscal year.

Olin announced that its Board of Directors has approved a stock repurchase program on Thursday, December 12th that authorizes the company to buyback $2.00 billion in outstanding shares. This buyback authorization authorizes the specialty chemicals company to purchase up to 45% of its stock through open market purchases. Stock buyback programs are generally a sign that the company’s board believes its shares are undervalued.

Insider Transactions at Olin

In other Olin news, VP R Nichole Sumner sold 10,500 shares of the business’s stock in a transaction on Friday, November 8th. The stock was sold at an average price of $43.75, for a total transaction of $459,375.00. Following the sale, the vice president now directly owns 24,056 shares in the company, valued at approximately $1,052,450. The trade was a 30.39 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Corporate insiders own 1.80% of the company’s stock.

Institutional Trading of Olin

Several institutional investors and hedge funds have recently modified their holdings of the business. Harbor Capital Advisors Inc. raised its position in shares of Olin by 55.5% during the 4th quarter. Harbor Capital Advisors Inc. now owns 143,062 shares of the specialty chemicals company’s stock worth $4,835,000 after purchasing an additional 51,051 shares during the last quarter. Segall Bryant & Hamill LLC acquired a new position in shares of Olin in the third quarter worth $916,000. Charles Schwab Investment Management Inc. lifted its position in shares of Olin by 2.9% in the third quarter. Charles Schwab Investment Management Inc. now owns 1,295,699 shares of the specialty chemicals company’s stock valued at $62,168,000 after acquiring an additional 37,043 shares in the last quarter. Mariner Investment Group LLC acquired a new stake in shares of Olin during the fourth quarter valued at $355,000. Finally, Barclays PLC increased its position in Olin by 37.7% during the 3rd quarter. Barclays PLC now owns 125,913 shares of the specialty chemicals company’s stock worth $6,042,000 after purchasing an additional 34,485 shares in the last quarter. 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.