Truist Financial Lowers Olin (NYSE:OLN) Price Target to $20.00

Olin (NYSE:OLN) had its price target reduced by stock analysts at Truist Financial from $23.00 to $20.00 in a research report issued on Monday, MarketBeat reports. The brokerage currently has a “hold” rating on the specialty chemicals company’s stock. Truist Financial’s price target would indicate a potential downside of 12.57% from the company’s current price.

OLN has been the subject of several other research reports. Citigroup upped their target price on shares of Olin from $21.00 to $24.00 and gave the company a “neutral” rating in a research report on Tuesday, January 13th. UBS Group dropped their price objective on Olin from $24.00 to $22.00 and set a “neutral” rating for the company in a report on Wednesday, October 29th. Zacks Research lowered Olin from a “hold” rating to a “strong sell” rating in a research note on Thursday, January 29th. Wells Fargo & Company decreased their target price on Olin from $25.00 to $22.00 and set an “equal weight” rating for the company in a research report on Wednesday, October 29th. Finally, Mizuho set a $22.00 price target on Olin in a research note on Friday. One research analyst has rated the stock with a Strong Buy rating, two have given a Buy rating, eleven have issued a Hold rating and three have issued a Sell rating to the company. According to MarketBeat, the company currently has a consensus rating of “Hold” and a consensus target price of $22.86.

Olin Stock Performance

Olin stock opened at $22.88 on Monday. The company has a market cap of $2.61 billion, a PE ratio of -60.20, a PEG ratio of 3.28 and a beta of 1.64. The company has a current ratio of 1.35, a quick ratio of 0.81 and a debt-to-equity ratio of 1.46. Olin has a 1 year low of $17.66 and a 1 year high of $28.77. The company’s 50-day moving average is $21.82 and its two-hundred day moving average is $22.08.

Olin (NYSE:OLN) last posted its quarterly earnings results on Thursday, January 29th. The specialty chemicals company reported ($0.58) earnings per share for the quarter, hitting analysts’ consensus estimates of ($0.58). Olin had a negative net margin of 0.63% and a negative return on equity of 0.47%. The business had revenue of $1.67 billion during the quarter, compared to the consensus estimate of $1.61 billion. During the same period in the previous year, the firm posted $0.09 earnings per share. Olin’s revenue for the quarter was down .4% compared to the same quarter last year. Equities analysts anticipate that Olin will post 1.38 earnings per share for the current year.

Insider Transactions at Olin

In other Olin news, VP Teresa M. Vermillion sold 4,500 shares of the firm’s stock in a transaction that occurred on 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 directly owned 17,199 shares in the company, valued at approximately $358,771.14. This trade represents a 20.74% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. Insiders own 1.70% of the company’s stock.

Institutional Investors Weigh In On Olin

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Mitsubishi UFJ Asset Management Co. Ltd. boosted its stake in Olin by 52.8% in the 4th quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 46,983 shares of the specialty chemicals company’s stock worth $1,012,000 after purchasing an additional 16,241 shares during the period. Garner Asset Management Corp boosted its position in shares of Olin by 5.2% during the fourth quarter. Garner Asset Management Corp now owns 16,540 shares of the specialty chemicals company’s stock worth $345,000 after buying an additional 824 shares during the period. AMG National Trust Bank grew its holdings in shares of Olin by 15.3% during the fourth quarter. AMG National Trust Bank now owns 83,894 shares of the specialty chemicals company’s stock worth $1,748,000 after buying an additional 11,110 shares in the last quarter. Mitsubishi UFJ Trust & Banking Corp grew its holdings in shares of Olin by 5.0% during the fourth quarter. Mitsubishi UFJ Trust & Banking Corp now owns 53,471 shares of the specialty chemicals company’s stock worth $1,114,000 after buying an additional 2,563 shares in the last quarter. Finally, Comerica Bank raised its position in Olin by 27.6% in the 4th quarter. Comerica Bank now owns 103,200 shares of the specialty chemicals company’s stock valued at $2,150,000 after buying an additional 22,292 shares during 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.