Olin Co. (NYSE:OLN) Given Average Rating of “Hold” by Brokerages

Olin Co. (NYSE:OLN) has earned an average rating of “Hold” from the fifteen ratings firms that are presently covering the firm, MarketBeat.com reports. One research analyst has rated the stock with a sell recommendation, seven have assigned a hold recommendation and seven have assigned a buy recommendation to the company. The average twelve-month target price among analysts that have updated their coverage on the stock in the last year is $47.07.

Several equities analysts have issued reports on the company. Morgan Stanley dropped their price target on Olin from $41.00 to $31.00 and set an “underweight” rating on the stock in a research note on Monday, January 13th. Citigroup cut their target price on shares of Olin from $48.00 to $45.00 and set a “buy” rating on the stock in a research note on Monday, December 16th. Royal Bank of Canada decreased their price target on shares of Olin from $52.00 to $48.00 and set an “outperform” rating for the company in a research note on Tuesday, October 29th. Wells Fargo & Company cut their price objective on shares of Olin from $48.00 to $44.00 and set an “equal weight” rating on the stock in a research report on Monday, October 28th. Finally, BMO Capital Markets decreased their target price on Olin from $50.00 to $47.00 and set a “market perform” rating for the company in a research report on Tuesday, October 29th.

Olin Trading Up 1.0 %

NYSE OLN opened at $33.07 on Thursday. Olin has a 12 month low of $30.69 and a 12 month 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 firm has a market capitalization of $3.86 billion, a PE ratio of 26.67, a price-to-earnings-growth ratio of 0.78 and a beta of 1.48. The business’s 50-day moving average price is $36.49 and its two-hundred day moving average price is $41.63.

Olin announced that its board has approved a share repurchase program on Thursday, December 12th that permits the company to buyback $2.00 billion in outstanding shares. This buyback authorization permits the specialty chemicals company to reacquire up to 45% of its stock through open market purchases. Stock buyback programs are often an indication that the company’s management believes its shares are undervalued.

Insider Buying and Selling

In other news, VP R Nichole Sumner sold 10,500 shares of Olin stock in a transaction that occurred 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 sale, the vice president now owns 24,056 shares in the company, valued at $1,052,450. This trade represents a 30.39 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. 1.60% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Olin

Hedge funds have recently bought and sold shares of the business. Hotchkis & Wiley Capital Management LLC increased its stake in Olin by 6.4% during the third quarter. Hotchkis & Wiley Capital Management LLC now owns 8,838,988 shares of the specialty chemicals company’s stock worth $424,095,000 after acquiring an additional 531,330 shares during the last quarter. Pzena Investment Management LLC boosted its holdings in shares of Olin by 24.8% in the 3rd quarter. Pzena Investment Management LLC now owns 3,452,708 shares of the specialty chemicals company’s stock worth $165,661,000 after purchasing an additional 685,710 shares during the period. Charles Schwab Investment Management Inc. increased its position in shares of Olin by 2.9% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 1,295,699 shares of the specialty chemicals company’s stock valued at $62,168,000 after purchasing an additional 37,043 shares during the last quarter. Franklin Resources Inc. raised its holdings in Olin by 19.2% during the 3rd quarter. Franklin Resources Inc. now owns 1,073,087 shares of the specialty chemicals company’s stock valued at $51,015,000 after buying an additional 172,768 shares during the period. Finally, Allspring Global Investments Holdings LLC lifted its position in Olin by 2.4% in the third quarter. Allspring Global Investments Holdings LLC now owns 1,061,001 shares of the specialty chemicals company’s stock worth $50,907,000 after buying an additional 25,163 shares during the last quarter. Hedge funds and other institutional investors own 88.67% of the company’s stock.

About Olin

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.