Olin (NYSE:OLN) has been given a $41.00 target price by analysts at Morgan Stanley in a research note issued on Monday. The firm presently has a “buy” rating on the specialty chemicals company’s stock. Morgan Stanley’s price objective would indicate a potential upside of 31.88% from the company’s previous close.
A number of other research analysts have also commented on the company. Citigroup set a $40.00 price target on Olin and gave the stock a “buy” rating in a report on Monday. Cowen reiterated a “buy” rating and set a $41.00 price target on shares of Olin in a report on Friday. Zacks Investment Research lowered Olin from a “buy” rating to a “hold” rating in a report on Friday. Nomura cut their price target on Olin from $43.00 to $40.00 and set a “buy” rating for the company in a report on Thursday. Finally, Vertical Research upgraded Olin from a “hold” rating to a “buy” rating in a report on Wednesday, January 3rd. Three investment analysts have rated the stock with a hold rating and nine have assigned a buy rating to the stock. Olin has a consensus rating of “Buy” and a consensus price target of $39.80.
Shares of Olin (NYSE:OLN) traded up $0.54 during mid-day trading on Monday, hitting $31.09. The stock had a trading volume of 1,813,346 shares, compared to its average volume of 2,311,135. Olin has a one year low of $27.79 and a one year high of $38.84. The firm has a market capitalization of $5,104.90, a price-to-earnings ratio of 9.61, a PEG ratio of 0.95 and a beta of 1.36. The company has a current ratio of 1.78, a quick ratio of 1.07 and a debt-to-equity ratio of 1.31.
In related news, EVP John L. Mcintosh sold 9,500 shares of the company’s stock in a transaction on Wednesday, November 15th. The stock was sold at an average price of $35.42, for a total value of $336,490.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Corporate insiders own 2.90% of the company’s stock.
Several hedge funds and other institutional investors have recently modified their holdings of OLN. Kensico Capital Management Corp raised its stake in shares of Olin by 43.3% in the third quarter. Kensico Capital Management Corp now owns 7,800,000 shares of the specialty chemicals company’s stock valued at $267,150,000 after purchasing an additional 2,355,000 shares in the last quarter. Jennison Associates LLC raised its stake in Olin by 7,869.7% during the third quarter. Jennison Associates LLC now owns 1,992,417 shares of the specialty chemicals company’s stock worth $68,240,000 after acquiring an additional 1,967,417 shares in the last quarter. BlackRock Inc. raised its stake in Olin by 5.3% during the fourth quarter. BlackRock Inc. now owns 16,689,125 shares of the specialty chemicals company’s stock worth $593,800,000 after acquiring an additional 842,715 shares in the last quarter. Iridian Asset Management LLC CT raised its stake in Olin by 5.3% during the fourth quarter. Iridian Asset Management LLC CT now owns 7,760,477 shares of the specialty chemicals company’s stock worth $276,118,000 after acquiring an additional 390,184 shares in the last quarter. Finally, Teachers Retirement System of The State of Kentucky raised its stake in Olin by 1,116.5% during the third quarter. Teachers Retirement System of The State of Kentucky now owns 381,729 shares of the specialty chemicals company’s stock worth $13,074,000 after acquiring an additional 350,349 shares in the last quarter. Institutional investors and hedge funds own 90.08% of the company’s stock.
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Olin Company Profile
Olin Corporation is a manufacturer and distributor of chemical products, and ammunition. The Company operates through three segments: Chlor Alkali Products and Vinyls, Epoxy and Winchester. The Chlor Alkali Products and Vinyls segment manufactures and sells chlorine and caustic soda, ethylene dichloride and vinyl chloride monomer, methyl chloride, methylene chloride, chloroform, carbon tetrachloride, perchloroethylene, trichloroethylene and vinylidene chloride, hydrochloric acid, hydrogen, bleach products and potassium hydroxide.
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