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

Olin (NYSE:OLN - Get Free Report) had its price objective dropped by investment analysts at Truist Financial from $38.00 to $32.00 in a research report issued on Monday,Benzinga reports. The firm currently has a "hold" rating on the specialty chemicals company's stock. Truist Financial's price objective points to a potential upside of 12.61% from the company's previous close.

OLN has been the topic of a number of other research reports. KeyCorp cut their price target on Olin from $50.00 to $40.00 and set an "overweight" rating on the stock in a research note on Monday. Piper Sandler reduced their target price on Olin from $51.00 to $41.00 and set an "overweight" rating on the stock in a report on Tuesday, January 7th. Wells Fargo & Company lowered their price target on Olin from $40.00 to $31.00 and set an "equal weight" rating for the company in a research note on Monday. Bank of America raised shares of Olin from a "neutral" rating to a "buy" rating and reduced their price objective for the stock from $48.00 to $40.00 in a research note on Tuesday, January 14th. Finally, UBS Group cut their target price on shares of Olin from $35.00 to $34.00 and set a "neutral" rating on the stock in a report on Friday, January 31st. One analyst has rated the stock with a sell rating, nine have issued a hold rating and six have issued a buy rating to the company. According to MarketBeat, Olin has an average rating of "Hold" and a consensus price target of $40.94.

Olin Trading Up 6.4 %

Olin stock traded up $1.71 during mid-day trading on Monday, hitting $28.42. The stock had a trading volume of 5,102,067 shares, compared to its average volume of 1,826,123. The stock has a market capitalization of $3.31 billion, a PE ratio of 31.57, a P/E/G 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 has a 50-day simple moving average of $34.60 and a two-hundred day simple moving average of $40.64.

Olin (NYSE:OLN - Get Free Report) last issued its quarterly 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%. As a group, sell-side analysts forecast that Olin will post 2.47 EPS for the current year.

Olin declared that its Board of Directors has authorized a stock repurchase program on Thursday, December 12th that allows the company to buyback $2.00 billion in shares. This buyback authorization allows the specialty chemicals company to purchase up to 45% of its shares through open market purchases. Shares buyback programs are often a sign that the company's leadership believes its shares are undervalued.

Insider Transactions at Olin

In other news, VP R Nichole Sumner sold 10,500 shares of the firm's stock in a transaction dated 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 owns 24,056 shares in the company, valued at $1,052,450. This trade represents a 30.39 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Kenneth Todd Lane bought 7,250 shares of the company's stock in a transaction that occurred on Tuesday, February 4th. The shares were bought at an average price of $28.06 per share, for a total transaction of $203,435.00. Following the acquisition, the chief executive officer now directly owns 7,250 shares of the company's stock, valued at $203,435. This represents a ∞ increase in their position. The disclosure for this purchase can be found here. 1.80% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in the stock. Harbor Capital Advisors Inc. increased its holdings in Olin by 55.5% during the fourth quarter. Harbor Capital Advisors Inc. now owns 143,062 shares of the specialty chemicals company's stock worth $4,835,000 after buying an additional 51,051 shares during the last quarter. Segall Bryant & Hamill LLC bought a new position in shares of Olin in the 3rd quarter valued at about $916,000. Charles Schwab Investment Management Inc. increased its stake 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 worth $62,168,000 after purchasing an additional 37,043 shares during the last quarter. Mariner Investment Group LLC bought a new stake in shares of Olin in the 4th quarter valued at about $355,000. Finally, KBC Group NV lifted its stake in Olin by 82.9% in the 4th quarter. KBC Group NV now owns 5,461 shares of the specialty chemicals company's stock valued at $185,000 after purchasing an additional 2,476 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.