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

Olin (NYSE:OLN - Get Free Report) had its price target decreased by analysts at KeyCorp from $50.00 to $40.00 in a research report issued on Monday,Benzinga reports. The firm currently has an "overweight" rating on the specialty chemicals company's stock. KeyCorp's target price points to a potential upside of 40.76% from the stock's current price.

A number of other research analysts also recently commented on the stock. Barclays cut their target price on shares of Olin from $45.00 to $43.00 and set an "equal weight" rating on the stock in a research report on Friday, December 13th. Wells Fargo & Company cut their target price 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. Piper Sandler cut their target price on shares of Olin from $51.00 to $41.00 and set an "overweight" rating on the stock in a research report on Tuesday, January 7th. Royal Bank of Canada cut their target price on shares of Olin from $52.00 to $48.00 and set an "outperform" rating on the stock in a research report on Tuesday, October 29th. Finally, BMO Capital Markets cut their target price on shares of Olin from $50.00 to $47.00 and set a "market perform" rating on the stock in a research report on Tuesday, October 29th. One research analyst has rated the stock with a sell rating, nine have given a hold rating and six have issued a buy rating to the stock. Based on data from MarketBeat, Olin presently has an average rating of "Hold" and an average price target of $40.94.

Olin Trading Up 6.4 %

Shares of OLN traded up $1.71 during trading hours on Monday, reaching $28.42. 5,102,136 shares of the company traded hands, compared to its average volume of 1,866,110. The firm has a market cap of $3.31 billion, a price-to-earnings ratio of 31.57, a PEG ratio of 0.69 and a beta of 1.45. Olin has a 12-month low of $26.48 and a 12-month high of $60.60. The company has a current ratio of 1.27, a quick ratio of 0.77 and a debt-to-equity ratio of 1.32. The stock's fifty day moving average price is $34.60 and its 200 day moving average price is $40.64.

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 (EPS) for the quarter, beating analysts' consensus estimates of ($0.01) by $0.10. Olin had a net margin of 1.66% and a return on equity of 5.10%. Sell-side analysts forecast that Olin will post 2.47 earnings per share for the current year.

Olin announced that its board has approved a share repurchase program on Thursday, December 12th that authorizes the company to repurchase $2.00 billion in shares. This repurchase authorization authorizes the specialty chemicals company to repurchase up to 45% of its stock through open market purchases. Stock repurchase programs are generally a sign that the company's leadership believes its shares are undervalued.

Insider Buying and Selling

In related 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 value of $459,375.00. Following the completion of the sale, the vice president now directly owns 24,056 shares in the company, valued at $1,052,450. This trade represents a 30.39 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CEO Kenneth Todd Lane bought 7,250 shares of the stock in a transaction that occurred on Tuesday, February 4th. The stock was bought at an average price of $28.06 per share, with a total value of $203,435.00. Following the completion of the purchase, the chief executive officer now directly owns 7,250 shares in the company, valued at $203,435. This represents a ∞ increase in their ownership of the stock. The disclosure for this purchase can be found here. 1.80% of the stock is owned by company insiders.

Institutional Trading of Olin

A number of institutional investors have recently bought and sold shares of OLN. Farther Finance Advisors LLC lifted its stake 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 acquiring an additional 276 shares during the period. Covestor Ltd lifted its stake in Olin by 357.5% during the 3rd quarter. Covestor Ltd now owns 915 shares of the specialty chemicals company's stock valued at $44,000 after acquiring an additional 715 shares during the period. Capital Performance Advisors LLP acquired a new stake in Olin during the 3rd quarter valued at approximately $47,000. Mirae Asset Global Investments Co. Ltd. lifted its stake in Olin by 26.2% during the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 1,534 shares of the specialty chemicals company's stock valued at $75,000 after acquiring an additional 318 shares during the period. Finally, UMB Bank n.a. lifted its stake in Olin by 4,862.5% during the 3rd quarter. UMB Bank n.a. now owns 1,588 shares of the specialty chemicals company's stock valued at $76,000 after acquiring an additional 1,556 shares during the period. 88.67% of the stock is currently owned by institutional investors and hedge funds.

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.