Olin (NYSE:OLN) Price Target Lowered to $31.00 at Wells Fargo & Company

Olin (NYSE:OLN - Get Free Report) had its target price reduced by analysts at Wells Fargo & Company from $40.00 to $31.00 in a report issued on Monday,Benzinga reports. The firm currently has an "equal weight" rating on the specialty chemicals company's stock. Wells Fargo & Company's price objective indicates a potential upside of 8.84% from the stock's current price.

Other equities analysts have also recently issued reports about the company. Royal Bank of Canada reduced their target price on Olin from $52.00 to $48.00 and set an "outperform" rating on the stock in a research note on Tuesday, October 29th. BMO Capital Markets lowered their price objective on shares of Olin from $50.00 to $47.00 and set a "market perform" rating for the company in a report on Tuesday, October 29th. Morgan Stanley reduced 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. UBS Group lowered their price objective on Olin from $35.00 to $34.00 and set a "neutral" rating for the company in a research report on Friday, January 31st. Finally, Citigroup lowered their price target on Olin from $48.00 to $45.00 and set a "buy" rating for the company in a research report on Monday, December 16th. One research analyst has rated the stock with a sell rating, nine have given a hold rating and six have assigned a buy rating to the company. According to MarketBeat, the stock presently has an average rating of "Hold" and a consensus target price of $40.94.

Olin Trading Up 6.6 %

Shares of Olin stock traded up $1.77 during trading on Monday, reaching $28.48. The company's stock had a trading volume of 4,003,021 shares, compared to its average volume of 1,815,938. The company has a quick ratio of 0.77, a current ratio of 1.27 and a debt-to-equity ratio of 1.32. Olin has a 52-week low of $26.48 and a 52-week high of $60.60. The firm's 50-day moving average is $34.92 and its two-hundred day moving average is $40.73. The company has a market cap of $3.32 billion, a price-to-earnings ratio of 31.55, a PEG ratio of 0.69 and a beta of 1.45.

Olin (NYSE:OLN - Get Free Report) last issued its earnings results on Thursday, January 30th. The specialty chemicals company reported $0.09 EPS for the quarter, topping the consensus estimate of ($0.01) by $0.10. Olin had a net margin of 1.66% and a return on equity of 5.10%. On average, sell-side analysts anticipate that Olin will post 2.47 earnings per share for the current year.

Olin declared that its board has authorized a share buyback 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 repurchase up to 45% of its stock through open market purchases. Stock repurchase programs are usually an indication that the company's board of directors believes its stock is undervalued.

Insider Transactions at Olin

In other Olin news, CEO Kenneth Todd Lane bought 7,250 shares of the business's stock in a transaction that occurred on Tuesday, February 4th. The stock was purchased at an average price of $28.06 per share, for a total transaction of $203,435.00. Following the completion of the transaction, the chief executive officer now owns 7,250 shares of the company's stock, valued at $203,435. This trade represents a ∞ increase in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, VP R Nichole Sumner sold 10,500 shares of the business's 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 directly owns 24,056 shares in the company, valued at approximately $1,052,450. This represents a 30.39 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 1.80% of the company's stock.

Institutional Trading of Olin

Several hedge funds have recently bought and sold shares of the stock. Farther Finance Advisors LLC increased its holdings in shares of Olin by 88.2% in the third quarter. Farther Finance Advisors LLC now owns 589 shares of the specialty chemicals company's stock worth $28,000 after purchasing an additional 276 shares during 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 buying an additional 715 shares during the last quarter. Capital Performance Advisors LLP purchased a new stake in shares of Olin during the 3rd quarter valued at about $47,000. Spire Wealth Management lifted 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 valued at $55,000 after acquiring an additional 1,150 shares during the last quarter. Finally, Mirae Asset Global Investments Co. Ltd. grew its position 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 worth $75,000 after acquiring an additional 318 shares in the last quarter. Hedge funds and other 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.