Olin (NYSE:OLN) Cut to Strong Sell at Wall Street Zen

Wall Street Zen lowered shares of Olin (NYSE:OLN) from a sell rating to a strong sell rating in a research report report published on Saturday morning.

Several other analysts also recently commented on the stock. UBS Group cut their price objective on shares of Olin from $23.00 to $21.00 and set a “neutral” rating on the stock in a research report on Monday, August 3rd. Royal Bank Of Canada decreased their target price on shares of Olin from $24.00 to $20.00 and set a “sector perform” rating for the company in a report on Monday, August 3rd. The Goldman Sachs Group dropped their target price on shares of Olin from $24.00 to $20.00 and set a “neutral” rating on the stock in a research note on Tuesday, August 4th. Mizuho upped their target price on shares of Olin from $23.00 to $24.00 and gave the stock a “neutral” rating in a research note on Friday, July 31st. Finally, Truist Financial cut their price target on shares of Olin from $24.00 to $20.00 and set a “hold” rating on the stock in a report on Monday, August 3rd. One equities research analyst has rated the stock with a Strong Buy rating, one has given a Buy rating, ten have assigned a Hold rating and four have given a Sell rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Reduce” and a consensus price target of $23.08.

Olin Trading Up 1.0%

NYSE OLN opened at $18.78 on Friday. Olin has a 12 month low of $17.73 and a 12 month high of $30.46. The company has a current ratio of 1.42, a quick ratio of 0.87 and a debt-to-equity ratio of 1.77. The stock’s fifty day moving average price is $21.84 and its 200-day moving average price is $24.56. The stock has a market cap of $2.14 billion, a P/E ratio of -15.27 and a beta of 1.22.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the stock. Rockefeller Capital Management L.P. lifted its holdings in shares of Olin by 115.2% during the 4th quarter. Rockefeller Capital Management L.P. now owns 1,231 shares of the specialty chemicals company’s stock valued at $26,000 after buying an additional 659 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. purchased a new stake in shares of Olin in the 1st quarter worth $32,000. Sunbelt Securities Inc. purchased a new stake in shares of Olin in the 1st quarter worth $45,000. UMB Bank n.a. raised its holdings in Olin by 34.0% in the 4th quarter. UMB Bank n.a. now owns 2,597 shares of the specialty chemicals company’s stock worth $54,000 after purchasing an additional 659 shares during the period. Finally, NewEdge Advisors LLC raised its holdings in Olin by 45.0% in the 3rd quarter. NewEdge Advisors LLC now owns 2,323 shares of the specialty chemicals company’s stock worth $58,000 after purchasing an additional 721 shares during the period. 88.67% of the stock is owned by hedge funds and other institutional investors.

About Olin

Olin Corporation is a diversified manufacturer specializing in chemical products and ammunition. The company’s core business activities encompass the production and distribution of chlor-alkali products, epoxy resins and derivatives, and small-caliber ammunition under the Winchester brand. Olin’s chemical operations supply chlorine, caustic soda and related co-products to a wide range of end markets, including water treatment, pulp and paper, pharmaceuticals and general industrial applications.

In its Chlor Alkali Products & Vinyls segment, Olin operates multiple manufacturing facilities that produce chlorine and sodium hydroxide, along with vinyl chloride monomer and polyvinyl chloride (PVC) compounds.