Olin Co. (NYSE:OLN) Receives Consensus Rating of “Hold” from Analysts

Olin Co. (NYSE:OLN) has earned an average rating of “Hold” from the sixteen ratings firms that are currently covering the company, MarketBeat reports. One research analyst has rated the stock with a sell rating, ten have given a hold rating and five have assigned a buy rating to the company. The average 12-month target price among analysts that have issued ratings on the stock in the last year is $40.44.

A number of equities analysts recently commented on the company. Royal Bank of Canada downgraded Olin from an “outperform” rating to a “sector perform” rating and dropped their price objective for the stock from $45.00 to $30.00 in a report on Tuesday, February 4th. Morgan Stanley lowered their price objective on shares of Olin from $31.00 to $28.00 and set an “underweight” rating on the stock in a research note on Tuesday, February 4th. UBS Group lowered their price objective on shares of Olin from $35.00 to $34.00 and set a “neutral” rating on the stock in a research note on Friday, January 31st. Piper Sandler cut Olin from an “overweight” rating to a “neutral” rating and reduced their target price for the stock from $41.00 to $33.00 in a research report on Thursday. Finally, Truist Financial reduced their target price on Olin from $38.00 to $32.00 and set a “hold” rating for the company in a research report on Monday, February 3rd.

Olin Stock Performance

Shares of OLN opened at $27.72 on Monday. The company has a market cap of $3.23 billion, a price-to-earnings ratio of 30.80, a price-to-earnings-growth ratio of 0.91 and a beta of 1.45. The firm has a fifty day moving average of $32.64 and a 200-day moving average of $39.69. 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 issued 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%. As a group, equities analysts anticipate that Olin will post 1.83 earnings per share for the current year.

Olin announced that its board has approved a stock buyback plan on Thursday, December 12th that permits the company to repurchase $2.00 billion in outstanding shares. This repurchase authorization permits the specialty chemicals company to buy up to 45% of its stock through open market purchases. Stock repurchase plans are often a sign that the company’s board believes its stock is undervalued.

Insider Buying and Selling at Olin

In related news, CEO Kenneth Todd Lane acquired 7,250 shares of the company’s stock in a transaction dated Tuesday, February 4th. The shares were bought at an average price of $28.06 per share, for a total transaction of $203,435.00. Following the purchase, the chief executive officer now directly owns 7,250 shares in the company, valued at approximately $203,435. This trade represents a ∞ increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Company insiders own 1.60% of the company’s stock.

Institutional Investors Weigh In On Olin

A number of institutional investors and hedge funds have recently made changes to their positions in the stock. Freestone Grove Partners LP bought a new stake in shares of Olin during the 4th quarter worth approximately $361,000. Comerica Bank increased its holdings in shares of Olin by 9.2% during the 4th quarter. Comerica Bank now owns 73,130 shares of the specialty chemicals company’s stock worth $2,472,000 after acquiring an additional 6,179 shares during the last quarter. Schonfeld Strategic Advisors LLC acquired a new position in shares of Olin during the 4th quarter worth approximately $1,305,000. AQR Capital Management LLC increased its holdings in shares of Olin by 5.0% during the 4th quarter. AQR Capital Management LLC now owns 844,992 shares of the specialty chemicals company’s stock worth $28,459,000 after acquiring an additional 40,342 shares during the last quarter. Finally, Northern Trust Corp increased its holdings in shares of Olin by 16.5% during the 4th quarter. Northern Trust Corp now owns 1,126,237 shares of the specialty chemicals company’s stock worth $38,067,000 after acquiring an additional 159,667 shares during the last quarter. 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.