Olin (NYSE:OLN) Price Target Lowered to $43.00 at Barclays

Olin (NYSE:OLN) had its price objective dropped by Barclays from $45.00 to $43.00 in a research report issued on Friday,Benzinga reports. The brokerage presently has an “equal weight” rating on the specialty chemicals company’s stock. Barclays‘s price objective would indicate a potential upside of 15.25% from the stock’s current price.

A number of other equities analysts have also recently issued reports on the company. BMO Capital Markets lowered their target price on Olin from $50.00 to $47.00 and set a “market perform” rating for the company in a report on Tuesday, October 29th. Royal Bank of Canada dropped their target price on Olin from $52.00 to $48.00 and set an “outperform” rating on the stock in a research report on Tuesday, October 29th. KeyCorp reduced their price target on Olin from $57.00 to $56.00 and set an “overweight” rating for the company in a research report on Monday, October 28th. Wells Fargo & Company lowered their price objective on shares of Olin from $48.00 to $44.00 and set an “equal weight” rating on the stock in a report on Monday, October 28th. Finally, Piper Sandler reduced their target price on shares of Olin from $57.00 to $51.00 and set an “overweight” rating for the company in a report on Wednesday, October 30th. Eight research analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average price target of $51.71.

Olin Stock Down 2.0 %

NYSE:OLN opened at $37.31 on Friday. The stock has a 50-day moving average price of $43.08 and a two-hundred day moving average price of $45.00. Olin has a 1 year low of $36.56 and a 1 year high of $60.60. The company has a current ratio of 1.40, a quick ratio of 0.82 and a debt-to-equity ratio of 1.32. The stock has a market cap of $4.35 billion, a price-to-earnings ratio of 30.09, a PEG ratio of 1.54 and a beta of 1.43.

Olin announced that its Board of Directors has initiated a stock buyback plan on Thursday, December 12th that permits the company to repurchase $2.00 billion in shares. This repurchase authorization permits the specialty chemicals company to purchase up to 45% of its stock through open market purchases. Stock repurchase plans are often a sign that the company’s board believes its stock is undervalued.

Insiders Place Their Bets

In other Olin news, VP R Nichole Sumner sold 10,500 shares of Olin stock in a transaction on Friday, November 8th. The shares were sold at an average price of $43.75, for a total transaction of $459,375.00. Following the completion of the transaction, the vice president now directly owns 24,056 shares of the company’s stock, valued at $1,052,450. The trade was a 30.39 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Company insiders own 1.60% of the company’s stock.

Hedge Funds Weigh In On Olin

Several large investors have recently modified their holdings of the stock. Farther Finance Advisors LLC grew its stake in Olin by 88.2% in 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 during the last quarter. Mirae Asset Global Investments Co. Ltd. boosted its holdings in shares of Olin by 26.2% during the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 1,534 shares of the specialty chemicals company’s stock worth $75,000 after acquiring an additional 318 shares during the period. Scott & Selber Inc. grew its position in shares of Olin by 1.7% in the second quarter. Scott & Selber Inc. now owns 19,206 shares of the specialty chemicals company’s stock valued at $906,000 after purchasing an additional 326 shares during the last quarter. Entropy Technologies LP increased its stake in shares of Olin by 2.5% during the third quarter. Entropy Technologies LP now owns 13,499 shares of the specialty chemicals company’s stock worth $648,000 after purchasing an additional 332 shares during the period. Finally, Nisa Investment Advisors LLC lifted its holdings in Olin by 3.0% during the 3rd quarter. Nisa Investment Advisors LLC now owns 11,830 shares of the specialty chemicals company’s stock worth $568,000 after purchasing an additional 350 shares during the last quarter. 88.67% of the stock is owned by institutional investors.

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.