Olin (NYSE:OLN – Get Free Report) had its price objective lowered by equities researchers at UBS Group from $35.00 to $34.00 in a research report issued to clients and investors on Friday,Benzinga reports. The firm currently has a “neutral” rating on the specialty chemicals company’s stock. UBS Group’s price objective would suggest a potential upside of 16.90% from the stock’s current price.
Several other equities research analysts also recently commented on the company. Piper Sandler decreased their price objective on Olin from $51.00 to $41.00 and set an “overweight” rating for the company in a report on Tuesday, January 7th. KeyCorp cut their price objective on Olin from $56.00 to $50.00 and set an “overweight” rating on the stock in a research report on Friday, January 10th. Barclays dropped their price target on Olin from $45.00 to $43.00 and set an “equal weight” rating on the stock in a research report on Friday, December 13th. BMO Capital Markets decreased their price objective on Olin from $50.00 to $47.00 and set a “market perform” rating on the stock in a research note on Tuesday, October 29th. Finally, Truist Financial began coverage on Olin in a research note on Tuesday. They set a “hold” rating and a $38.00 price objective on the stock. One investment analyst has rated the stock with a sell rating, eight have issued a hold rating and seven have assigned a buy rating to the company. According to data from MarketBeat.com, Olin currently has an average rating of “Hold” and an average price target of $45.44.
Get Our Latest Stock Report on OLN
Olin Trading Down 9.5 %
Olin (NYSE:OLN – Get Free Report) last issued its earnings results on Thursday, January 30th. The specialty chemicals company reported $0.09 earnings per share for the quarter, topping analysts’ consensus estimates of ($0.01) by $0.10. Olin had a return on equity of 6.19% and a net margin of 2.33%. On average, equities research analysts predict that Olin will post 0.95 EPS for the current year.
Olin declared that its Board of Directors has initiated a stock repurchase program on Thursday, December 12th that permits the company to repurchase $2.00 billion in shares. This repurchase authorization permits the specialty chemicals company to buy up to 45% of its shares through open market purchases. Shares repurchase programs are generally a sign that the company’s board believes its shares are undervalued.
Insider Transactions at Olin
In other news, VP R Nichole Sumner sold 10,500 shares of the stock in a transaction that occurred on Friday, November 8th. The stock was sold at an average price of $43.75, for a total value of $459,375.00. Following the completion of the transaction, the vice president now owns 24,056 shares of the company’s stock, valued at approximately $1,052,450. This represents a 30.39 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 1.60% of the company’s stock.
Institutional Inflows and Outflows
A number of institutional investors and hedge funds have recently added to or reduced their stakes in OLN. Farther Finance Advisors LLC increased its position in Olin by 88.2% during the 3rd quarter. Farther Finance Advisors LLC now owns 589 shares of the specialty chemicals company’s stock valued at $28,000 after buying an additional 276 shares in the last quarter. Covestor Ltd increased its holdings in shares of Olin by 357.5% in the 3rd quarter. Covestor Ltd now owns 915 shares of the specialty chemicals company’s stock worth $44,000 after purchasing an additional 715 shares in the last quarter. Capital Performance Advisors LLP bought a new stake in shares of Olin in the 3rd quarter worth $47,000. Spire Wealth Management increased its holdings in shares of Olin by 246.8% in the 4th quarter. Spire Wealth Management now owns 1,616 shares of the specialty chemicals company’s stock worth $55,000 after purchasing an additional 1,150 shares in the last quarter. Finally, Mirae Asset Global Investments Co. Ltd. increased its holdings in shares of Olin by 26.2% in the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 1,534 shares of the specialty chemicals company’s stock worth $75,000 after purchasing an additional 318 shares in the last quarter. Institutional investors own 88.67% of the company’s stock.
Olin Company Profile
Olin Corporation manufactures and distributes chemical products in the United States, Europe, Asia Pacific, Latin America, and Canada. It operates through three segments: Chlor Alkali Products and Vinyls; Epoxy; and Winchester. The Chlor Alkali Products and Vinyls segment offers chlorine and caustic soda, ethylene dichloride and vinyl chloride monomers, methyl chloride, methylene chloride, chloroform, carbon tetrachloride, perchloroethylene, hydrochloric acid, hydrogen, bleach products, potassium hydroxide, and chlorinated organics intermediates and solvents.
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