OLD National Bancorp IN Has $235,000 Stock Holdings in Olin Co. (NYSE:OLN)

OLD National Bancorp IN decreased its holdings in Olin Co. (NYSE:OLN) by 22.8% in the third quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 4,899 shares of the specialty chemicals company’s stock after selling 1,444 shares during the quarter. OLD National Bancorp IN’s holdings in Olin were worth $235,000 as of its most recent filing with the SEC.

A number of other hedge funds also recently made changes to their positions in OLN. LRI Investments LLC acquired a new position in shares of Olin in the 1st quarter valued at $28,000. EverSource Wealth Advisors LLC increased its position in shares of Olin by 4,375.0% during the 1st quarter. EverSource Wealth Advisors LLC now owns 537 shares of the specialty chemicals company’s stock worth $32,000 after purchasing an additional 525 shares in the last quarter. nVerses Capital LLC acquired a new stake in shares of Olin during the 2nd quarter worth about $33,000. Denver PWM LLC acquired a new stake in shares of Olin during the 2nd quarter worth about $59,000. Finally, Mather Group LLC. increased its position in shares of Olin by 1,364.4% during the 2nd quarter. Mather Group LLC. now owns 1,274 shares of the specialty chemicals company’s stock worth $60,000 after purchasing an additional 1,187 shares in the last quarter. Institutional investors and hedge funds own 88.67% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently issued reports on the stock. KeyCorp dropped their target price on shares of Olin from $62.00 to $57.00 and set an “overweight” rating for the company in a research report on Monday, October 7th. Royal Bank of Canada dropped their target price on shares of Olin from $61.00 to $52.00 and set an “outperform” rating for the company in a research report on Monday, July 29th. Piper Sandler dropped their target price on shares of Olin from $75.00 to $57.00 and set an “overweight” rating for the company in a research report on Tuesday, July 30th. Deutsche Bank Aktiengesellschaft decreased their price objective on shares of Olin from $57.00 to $48.00 and set a “hold” rating on the stock in a report on Monday, July 29th. Finally, Mizuho began coverage on shares of Olin in a report on Thursday, August 8th. They set a “neutral” rating and a $45.00 price objective on the stock. One investment analyst has rated the stock with a sell rating, eight have assigned a hold rating and six have issued a buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Hold” and an average target price of $52.40.

Olin Stock Down 1.4 %

Shares of NYSE OLN opened at $45.10 on Thursday. The firm has a market capitalization of $5.30 billion, a PE ratio of 19.87, a price-to-earnings-growth ratio of 1.15 and a beta of 1.41. The company has a current ratio of 1.43, a quick ratio of 0.82 and a debt-to-equity ratio of 1.29. Olin Co. has a 1 year low of $39.47 and a 1 year high of $60.60. The firm’s 50-day moving average is $44.75 and its 200-day moving average is $48.35.

Olin (NYSE:OLN) last issued its earnings results on Thursday, July 25th. The specialty chemicals company reported $0.62 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.70 by ($0.08). The business had revenue of $1.64 billion during the quarter, compared to the consensus estimate of $1.71 billion. Olin had a net margin of 4.26% and a return on equity of 11.73%. The firm’s revenue for the quarter was down 3.5% compared to the same quarter last year. During the same period last year, the business posted $1.13 EPS. Equities analysts expect that Olin Co. will post 1.58 EPS for the current year.

Olin 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.