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

Olin Co. (NYSE:OLN - Get Free Report) has received a consensus recommendation of "Hold" from the fifteen research firms that are presently covering the company, Marketbeat Ratings reports. One investment analyst has rated the stock with a sell recommendation, seven have given a hold recommendation and seven have assigned a buy recommendation to the company. The average 12-month price target among brokerages that have issued ratings on the stock in the last year is $47.07.

OLN has been the subject of several analyst reports. BMO Capital Markets dropped their price target on shares of Olin from $50.00 to $47.00 and set a "market perform" rating for the company in a research note on Tuesday, October 29th. Citigroup lowered their price objective on Olin from $48.00 to $45.00 and set a "buy" rating for the company in a research report on Monday, December 16th. Bank of America upgraded Olin from a "neutral" rating to a "buy" rating and reduced their target price for the company from $48.00 to $40.00 in a research report on Tuesday, January 14th. KeyCorp cut their price objective on Olin from $56.00 to $50.00 and set an "overweight" rating for the company in a research report on Friday, January 10th. Finally, Morgan Stanley decreased their target price on shares of Olin from $41.00 to $31.00 and set an "underweight" rating on the stock in a research report on Monday, January 13th.

Olin Trading Down 0.5 %

Shares of OLN traded down $0.17 during midday trading on Thursday, reaching $33.40. The company had a trading volume of 1,149,747 shares, compared to its average volume of 1,366,318. Olin has a 1-year low of $30.69 and a 1-year high of $60.60. The company has a quick ratio of 0.82, a current ratio of 1.40 and a debt-to-equity ratio of 1.32. The firm has a 50 day simple moving average of $36.83 and a 200-day simple moving average of $41.84. The stock has a market cap of $3.89 billion, a PE ratio of 26.93, a price-to-earnings-growth ratio of 0.77 and a beta of 1.48.

Olin declared that its Board of Directors has initiated a share 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 reacquire up to 45% of its stock through open market purchases. Stock repurchase programs are usually a sign that the company's leadership believes its shares are undervalued.

Insider Activity at Olin

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

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the stock. Farther Finance Advisors LLC boosted its stake in Olin by 88.2% in the third quarter. Farther Finance Advisors LLC now owns 589 shares of the specialty chemicals company's stock valued at $28,000 after acquiring an additional 276 shares in the last quarter. Covestor Ltd grew its stake in Olin by 357.5% during the 3rd quarter. Covestor Ltd now owns 915 shares of the specialty chemicals company's stock worth $44,000 after buying an additional 715 shares during the last quarter. Capital Performance Advisors LLP acquired a new position in Olin during the third quarter worth approximately $47,000. Mirae Asset Global Investments Co. Ltd. lifted its stake in Olin by 26.2% in the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 1,534 shares of the specialty chemicals company's stock valued at $75,000 after buying an additional 318 shares during the last quarter. Finally, UMB Bank n.a. grew its position in shares of Olin by 4,862.5% during the third quarter. UMB Bank n.a. now owns 1,588 shares of the specialty chemicals company's stock worth $76,000 after acquiring an additional 1,556 shares during the last quarter. Institutional investors and hedge funds 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.