BMO Capital Markets Has Lowered Expectations for Olin (NYSE:OLN) Stock Price

Olin (NYSE:OLN) had its target price dropped by stock analysts at BMO Capital Markets from $44.00 to $34.00 in a research note issued to investors on Wednesday,Benzinga reports. The firm presently has a “market perform” rating on the specialty chemicals company’s stock. BMO Capital Markets’ price target points to a potential upside of 19.65% from the stock’s current price.

Several other research analysts have also commented on OLN. Royal Bank of Canada lowered shares of Olin from an “outperform” rating to a “sector perform” rating and decreased their price target for the company from $45.00 to $30.00 in a report on Tuesday. Bank of America raised shares of Olin from a “neutral” rating to a “buy” rating and reduced their price target for the stock from $48.00 to $40.00 in a research note on Tuesday, January 14th. Truist Financial lowered their target price on Olin from $38.00 to $32.00 and set a “hold” rating on the stock in a report on Monday. Morgan Stanley reduced their price objective on Olin from $31.00 to $28.00 and set an “underweight” rating for the company in a research note on Tuesday. Finally, Wells Fargo & Company cut their price target on shares of Olin from $40.00 to $31.00 and set an “equal weight” rating on the stock in a report on Monday. One investment analyst has rated the stock with a sell rating, nine have assigned a hold rating and six have given a buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average price target of $40.94.

Olin Price Performance

Olin stock opened at $28.42 on Wednesday. The company has a market cap of $3.31 billion, a price-to-earnings ratio of 31.57, a PEG ratio of 0.69 and a beta of 1.45. The firm has a 50 day moving average price of $34.60 and a 200 day moving average price of $40.64. Olin has a 1 year low of $26.48 and a 1 year high of $60.60. 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 (NYSE:OLN) last released its quarterly earnings data on Thursday, January 30th. The specialty chemicals company reported $0.09 earnings per share (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%. Sell-side analysts predict that Olin will post 2.47 earnings per share for the current year.

Olin announced that its Board of Directors has initiated a stock repurchase plan on Thursday, December 12th that allows the company to buyback $2.00 billion in shares. This buyback authorization allows the specialty chemicals company to buy up to 45% of its shares through open market purchases. Shares buyback plans are generally an indication that the company’s management believes its shares are undervalued.

Insider Activity at Olin

In other Olin news, CEO Kenneth Todd Lane bought 7,250 shares of the business’s stock in a transaction on Tuesday, February 4th. The stock was bought at an average price of $28.06 per share, with a total value of $203,435.00. Following the completion of the purchase, the chief executive officer now directly owns 7,250 shares in the company, valued at $203,435. The trade was a ∞ increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Insiders own 1.80% of the company’s stock.

Institutional Trading of Olin

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Farther Finance Advisors LLC lifted its stake in Olin by 88.2% in the third quarter. Farther Finance Advisors LLC now owns 589 shares of the specialty chemicals company’s stock worth $28,000 after acquiring an additional 276 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. raised its holdings in shares of Olin by 26.2% in the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 1,534 shares of the specialty chemicals company’s stock valued at $75,000 after purchasing an additional 318 shares in the last quarter. Entropy Technologies LP lifted its position in shares of Olin by 2.5% during the 3rd quarter. Entropy Technologies LP now owns 13,499 shares of the specialty chemicals company’s stock worth $648,000 after purchasing an additional 332 shares during the last quarter. Nisa Investment Advisors LLC grew its stake in shares of Olin by 3.0% during the third quarter. Nisa Investment Advisors LLC now owns 11,830 shares of the specialty chemicals company’s stock worth $568,000 after purchasing an additional 350 shares in the last quarter. Finally, Wilmington Savings Fund Society FSB increased its holdings in Olin by 9.4% in the fourth quarter. Wilmington Savings Fund Society FSB now owns 5,833 shares of the specialty chemicals company’s stock valued at $197,000 after buying an additional 500 shares during 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.