Truist Financial Increases Olin (NYSE:OLN) Price Target to $23.00

Olin (NYSE:OLN) had its price target lifted by equities researchers at Truist Financial from $21.00 to $23.00 in a report issued on Wednesday, MarketBeat Ratings reports. The brokerage presently has a “hold” rating on the specialty chemicals company’s stock. Truist Financial’s price target suggests a potential downside of 5.97% from the stock’s previous close.

A number of other research firms also recently issued reports on OLN. Fermium Researc upgraded shares of Olin to a “strong-buy” rating in a research report on Thursday, September 25th. Bank of America increased their price objective on Olin from $25.00 to $30.00 and gave the stock a “buy” rating in a report on Tuesday, October 14th. KeyCorp lowered their target price on Olin from $30.00 to $29.00 and set an “overweight” rating on the stock in a research note on Wednesday, October 29th. UBS Group dropped their target price on Olin from $24.00 to $22.00 and set a “neutral” rating on the stock in a research report on Wednesday, October 29th. Finally, Weiss Ratings reiterated a “sell (d+)” rating on shares of Olin in a report on Wednesday, October 8th. One analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating, eleven have issued a Hold rating and two have issued a Sell rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus price target of $24.29.

Olin Trading Up 2.6%

Shares of NYSE OLN opened at $24.46 on Wednesday. The company has a current ratio of 1.56, a quick ratio of 0.89 and a debt-to-equity ratio of 1.49. Olin has a one year low of $17.66 and a one year high of $33.93. The business has a 50-day moving average price of $21.30 and a two-hundred day moving average price of $22.00. The firm has a market capitalization of $2.79 billion, a PE ratio of 53.17, a PEG ratio of 3.02 and a beta of 1.64.

Olin (NYSE:OLN) last issued its earnings results on Monday, October 27th. The specialty chemicals company reported $0.40 earnings per share for the quarter, beating analysts’ consensus estimates of $0.09 by $0.31. The company had revenue of $1.71 billion for the quarter, compared to the consensus estimate of $1.74 billion. Olin had a return on equity of 3.36% and a net margin of 0.79%.The firm’s quarterly revenue was up 7.8% on a year-over-year basis. During the same quarter in the prior year, the company earned ($0.21) EPS. As a group, analysts predict that Olin will post 1.38 earnings per share for the current fiscal year.

Insider Transactions at Olin

In other Olin news, VP Teresa M. Vermillion sold 4,500 shares of the 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 sale, the vice president owned 17,199 shares of the company’s stock, valued at $358,771.14. This represents a 20.74% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 1.60% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Olin

A number of large investors have recently modified their holdings of OLN. ARGA Investment Management LP increased its holdings in shares of Olin by 0.9% in the third 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 in the last quarter. Wilmington Savings Fund Society FSB raised its position in shares of 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 purchasing an additional 579 shares during the period. FORA Capital LLC boosted its holdings in shares of Olin by 2.6% in the second quarter. FORA Capital LLC now owns 24,453 shares of the specialty chemicals company’s stock valued at $491,000 after buying an additional 625 shares during the period. VIRGINIA RETIREMENT SYSTEMS ET Al boosted its stake in Olin by 1.1% in the 3rd quarter. VIRGINIA RETIREMENT SYSTEMS ET Al now owns 62,678 shares of the specialty chemicals company’s stock worth $1,566,000 after purchasing an additional 700 shares during the period. Finally, NewEdge Advisors LLC grew its holdings in shares of Olin by 45.0% during the third quarter. NewEdge Advisors LLC now owns 2,323 shares of the specialty chemicals company’s stock worth $58,000 after buying an additional 721 shares in the last quarter. 88.67% of the stock is currently owned by institutional investors and hedge funds.

About Olin

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.