UBS Group Cuts Olin (NYSE:OLN) Price Target to $21.00

Olin (NYSE:OLN) had its price objective dropped by equities research analysts at UBS Group from $34.00 to $21.00 in a research report issued to clients and investors on Monday,Benzinga reports. The brokerage presently has a “neutral” rating on the specialty chemicals company’s stock. UBS Group’s price target would suggest a potential upside of 10.44% from the stock’s previous close.

OLN has been the topic of a number of other reports. JPMorgan Chase & Co. lowered shares of Olin from an “overweight” rating to a “neutral” rating and dropped their price objective for the stock from $50.00 to $28.00 in a report on Thursday, February 27th. Royal Bank of Canada lowered Olin from an “outperform” rating to a “sector perform” rating and dropped their target price for the company from $45.00 to $30.00 in a research report on Tuesday, February 4th. Bank of America raised Olin from a “neutral” rating to a “buy” rating and reduced their price target for the stock from $48.00 to $40.00 in a research report on Tuesday, January 14th. Truist Financial cut their price objective on shares of Olin from $38.00 to $32.00 and set a “hold” rating on the stock in a research report on Monday, February 3rd. Finally, Citigroup reduced their price objective on shares of Olin from $34.00 to $30.00 and set a “buy” rating for the company in a research note on Thursday, March 27th. One research analyst has rated the stock with a sell rating, eleven have assigned a hold rating and four have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Hold” and a consensus price target of $35.81.

Olin Price Performance

OLN traded down $1.09 during midday trading on Monday, reaching $19.02. 2,095,935 shares of the company’s stock were exchanged, compared to its average volume of 1,479,778. Olin has a one year low of $18.59 and a one year high of $59.31. The firm has a market capitalization of $2.19 billion, a price-to-earnings ratio of 21.18 and a beta of 1.50. The business has a 50-day simple moving average of $26.27 and a two-hundred day simple moving average of $35.39. 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 (NYSE:OLN) last released its quarterly earnings results on Thursday, January 30th. The specialty chemicals company reported $0.09 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%. As a group, research analysts predict that Olin will post 1.38 EPS for the current year.

Olin announced that its board has authorized a stock repurchase plan on Thursday, December 12th that allows the company to repurchase $2.00 billion in outstanding shares. This repurchase authorization allows the specialty chemicals company to purchase up to 45% of its shares through open market purchases. Shares repurchase plans are typically a sign that the company’s leadership believes its stock is undervalued.

Insider Buying and Selling at Olin

In related news, CEO Kenneth Todd Lane purchased 7,250 shares of Olin stock in a transaction dated Tuesday, February 4th. The shares were bought at an average cost of $28.06 per share, for a total transaction of $203,435.00. Following the purchase, the chief executive officer now owns 7,250 shares in the company, valued at approximately $203,435. This trade represents a ∞ increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Company insiders own 1.60% of the company’s stock.

Hedge Funds Weigh In On Olin

A number of institutional investors have recently added to or reduced their stakes in the stock. GAMMA Investing LLC grew its stake in shares of Olin by 2,268.4% during the first quarter. GAMMA Investing LLC now owns 26,834 shares of the specialty chemicals company’s stock worth $650,000 after buying an additional 25,701 shares during the last quarter. Central Pacific Bank Trust Division bought a new stake in Olin during the 1st quarter worth $267,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its holdings in Olin by 11.2% in the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 297,425 shares of the specialty chemicals company’s stock worth $10,053,000 after purchasing an additional 29,919 shares in the last quarter. Voloridge Investment Management LLC bought a new position in Olin in the fourth quarter valued at about $4,692,000. Finally, Two Sigma Advisers LP acquired a new stake in shares of Olin during the fourth quarter valued at about $7,514,000. 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.