Truist Financial Has Lowered Expectations for Olin (NYSE:OLN) Stock Price

Olin (NYSE:OLN) had its target price lowered by Truist Financial from $26.00 to $24.00 in a research report issued on Monday,Benzinga reports. The brokerage presently has a “hold” rating on the specialty chemicals company’s stock. Truist Financial’s price objective suggests a potential upside of 3.89% from the stock’s previous close.

Several other research analysts also recently weighed in on the stock. Citigroup downgraded shares of Olin from a “neutral” rating to an “underperform” rating in a research note on Tuesday, June 30th. Weiss Ratings reissued a “sell (d)” rating on shares of Olin in a research report on Friday, May 22nd. UBS Group raised their target price on Olin from $29.00 to $31.00 and gave the company a “neutral” rating in a research note on Wednesday, May 13th. Wells Fargo & Company reaffirmed an “overweight” rating and set a $37.00 target price on shares of Olin in a research report on Sunday, May 10th. Finally, Morgan Stanley boosted their price target on Olin from $18.00 to $22.00 and gave the stock an “underweight” rating in a research note on Monday, May 11th. One equities research analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating, nine have given a Hold rating and four have issued a Sell rating to the company. According to data from MarketBeat.com, Olin has an average rating of “Hold” and an average target price of $26.46.

Olin Stock Up 4.2%

Shares of NYSE:OLN opened at $23.10 on Monday. The company has a quick ratio of 0.82, a current ratio of 1.36 and a debt-to-equity ratio of 1.73. Olin has a 52-week low of $18.08 and a 52-week high of $30.46. The company has a 50 day moving average of $23.46 and a two-hundred day moving average of $24.76. The company has a market capitalization of $2.63 billion, a price-to-earnings ratio of -20.63 and a beta of 1.21.

Institutional Trading of Olin

Several institutional investors have recently added to or reduced their stakes in the business. Royal Bank of Canada boosted its holdings in shares of Olin by 20.2% in the 1st quarter. Royal Bank of Canada now owns 85,198 shares of the specialty chemicals company’s stock valued at $2,066,000 after buying an additional 14,344 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. bought a new stake in shares of Olin during the 1st quarter valued at about $32,000. Jones Financial Companies Lllp grew its position in shares of Olin by 467.9% during the 1st quarter. Jones Financial Companies Lllp now owns 13,805 shares of the specialty chemicals company’s stock valued at $335,000 after buying an additional 11,374 shares during the last quarter. Goldman Sachs Group Inc. raised its stake in Olin by 57.6% during the first quarter. Goldman Sachs Group Inc. now owns 588,602 shares of the specialty chemicals company’s stock worth $14,268,000 after acquiring an additional 215,235 shares during the period. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its stake in Olin by 6.7% during the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 317,472 shares of the specialty chemicals company’s stock worth $7,696,000 after acquiring an additional 20,047 shares during the period. Institutional investors own 88.67% of the company’s stock.

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.