Olin (NYSE:OLN) Stock Price Expected to Rise, Mizuho Analyst Says

Olin (NYSE:OLN) had its target price hoisted by stock analysts at Mizuho from $24.00 to $26.00 in a research report issued on Tuesday,Benzinga reports. The brokerage presently has a “neutral” rating on the specialty chemicals company’s stock. Mizuho’s price objective indicates a potential downside of 11.13% from the stock’s previous close.

Other analysts have also recently issued reports about the company. Zacks Research cut Olin from a “hold” rating to a “strong sell” rating in a research report on Thursday, January 29th. Wall Street Zen lowered Olin from a “hold” rating to a “sell” rating in a research report on Saturday, January 10th. Wells Fargo & Company lifted their price target on shares of Olin from $21.00 to $25.00 and gave the company an “equal weight” rating in a research note on Friday, March 13th. Morgan Stanley cut their price target on shares of Olin from $20.00 to $18.00 and set an “underweight” rating for the company in a report on Monday, February 2nd. Finally, Deutsche Bank Aktiengesellschaft restated a “hold” rating and set a $26.00 price objective on shares of Olin in a research report on Tuesday, February 10th. One equities research analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating, twelve have assigned a Hold rating and three have assigned a Sell rating to the stock. Based on data from MarketBeat.com, Olin has a consensus rating of “Hold” and an average price target of $23.87.

Olin Trading Down 1.6%

OLN stock opened at $29.26 on Tuesday. Olin has a 52-week low of $17.66 and a 52-week high of $30.46. The company has a quick ratio of 0.73, a current ratio of 1.21 and a debt-to-equity ratio of 1.45. The firm has a market cap of $3.33 billion, a P/E ratio of -76.99 and a beta of 1.37. The company’s 50-day simple moving average is $24.97 and its 200-day simple moving average is $23.10.

Olin (NYSE:OLN) last announced its quarterly earnings results on Thursday, January 29th. The specialty chemicals company reported ($0.58) earnings per share for the quarter, meeting the consensus estimate of ($0.58). The firm had revenue of $1.67 billion during the quarter, compared to analyst estimates of $1.61 billion. Olin had a negative return on equity of 0.48% and a negative net margin of 0.63%.Olin’s revenue for the quarter was down .4% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.09 EPS. As a group, equities analysts forecast that Olin will post 1.38 EPS for the current fiscal year.

Insider Buying and Selling at Olin

In other news, VP Angela M. Castle sold 2,379 shares of the firm’s stock in a transaction that occurred on Tuesday, February 24th. The shares were sold at an average price of $24.25, for a total transaction of $57,690.75. Following the completion of the sale, the vice president owned 1,528 shares in the company, valued at $37,054. This trade represents a 60.89% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, VP R Nichole Sumner sold 4,750 shares of Olin stock in a transaction that occurred on Tuesday, February 3rd. The shares were sold at an average price of $22.49, for a total transaction of $106,827.50. Following the sale, the vice president directly owned 24,771 shares in the company, valued at approximately $557,099.79. The trade was a 16.09% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold 99,379 shares of company stock worth $2,238,298 in the last ninety days. 1.60% of the stock is owned by insiders.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the business. Hotchkis & Wiley Capital Management LLC raised its stake in shares of Olin by 5.5% in the 3rd quarter. Hotchkis & Wiley Capital Management LLC now owns 12,690,488 shares of the specialty chemicals company’s stock valued at $317,135,000 after acquiring an additional 661,730 shares during the period. State Street Corp raised its position in Olin by 1.1% in the second quarter. State Street Corp now owns 4,830,406 shares of the specialty chemicals company’s stock valued at $97,043,000 after purchasing an additional 50,309 shares during the period. Dimensional Fund Advisors LP raised its position in Olin by 3.3% in the fourth quarter. Dimensional Fund Advisors LP now owns 4,596,499 shares of the specialty chemicals company’s stock valued at $95,746,000 after purchasing an additional 145,424 shares during the period. Pzena Investment Management LLC lifted its stake in Olin by 17.5% during the fourth quarter. Pzena Investment Management LLC now owns 4,507,913 shares of the specialty chemicals company’s stock worth $93,900,000 after purchasing an additional 671,250 shares in the last quarter. Finally, Orbis Allan Gray Ltd lifted its stake in Olin by 448.9% during the fourth quarter. Orbis Allan Gray Ltd now owns 3,804,561 shares of the specialty chemicals company’s stock worth $79,249,000 after purchasing an additional 3,111,393 shares in the last quarter. 88.67% of the stock is currently owned by hedge funds and other institutional investors.

Olin Company Profile

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.