Olin (NYSE:OLN) Given New $28.00 Price Target at Barclays

Olin (NYSE:OLN) had its price target decreased by equities researchers at Barclays from $34.00 to $28.00 in a research report issued to clients and investors on Tuesday,Benzinga reports. The firm currently has an “equal weight” rating on the specialty chemicals company’s stock. Barclays‘s price objective suggests a potential upside of 17.28% from the stock’s previous close.

OLN has been the subject of a number of other reports. Wells Fargo & Company reduced their price target on shares of Olin from $31.00 to $25.00 and set an “equal weight” rating for the company in a report on Tuesday. Piper Sandler cut Olin from an “overweight” rating to a “neutral” rating and cut their price objective for the stock from $41.00 to $33.00 in a report on Thursday, February 13th. BMO Capital Markets dropped their target price on Olin from $44.00 to $34.00 and set a “market perform” rating for the company in a research report on Wednesday, February 5th. Royal Bank of Canada cut shares of Olin from an “outperform” rating to a “sector perform” rating and reduced their price target for the company from $45.00 to $30.00 in a research report on Tuesday, February 4th. Finally, UBS Group set a $28.00 price objective on shares of Olin in a report on Thursday, February 27th. One research analyst has rated the stock with a sell rating, eleven have given a hold rating and four have given a buy rating to the company’s stock. According to MarketBeat.com, Olin currently has an average rating of “Hold” and an average target price of $36.69.

Olin Stock Performance

OLN stock traded down $0.37 during trading hours on Tuesday, hitting $23.88. 164,149 shares of the stock were exchanged, compared to its average volume of 1,452,315. Olin has a 12 month low of $22.98 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 firm has a market capitalization of $2.75 billion, a P/E ratio of 26.37 and a beta of 1.61. The company has a 50-day simple moving average of $27.14 and a two-hundred day simple moving average of $35.97.

Olin (NYSE:OLN) last announced its quarterly earnings data on Thursday, January 30th. The specialty chemicals company reported $0.09 earnings per share (EPS) for the quarter, topping 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%. On average, analysts forecast that Olin will post 1.38 earnings per share for the current fiscal year.

Olin announced that its Board of Directors has initiated a share repurchase plan on Thursday, December 12th that permits the company to repurchase $2.00 billion in shares. This repurchase authorization permits the specialty chemicals company to buy up to 45% of its stock through open market purchases. Stock repurchase plans are usually a sign that the company’s board believes its shares are undervalued.

Insider Buying and Selling at Olin

In related news, CEO Kenneth Todd Lane acquired 7,250 shares of the firm’s stock in a transaction that occurred on Tuesday, February 4th. The stock was purchased 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 directly owns 7,250 shares of the company’s stock, valued at $203,435. This trade represents a ? increase in their position. The acquisition was disclosed in a document filed with the SEC, which can be accessed through this link. 1.60% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Olin

Hedge funds and other institutional investors have recently modified their holdings of the stock. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its stake in shares of Olin by 11.2% during 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 valued at $10,053,000 after buying an additional 29,919 shares during the last quarter. Voloridge Investment Management LLC purchased a new position in Olin during the fourth quarter valued at approximately $4,692,000. Two Sigma Advisers LP acquired a new position in Olin in the fourth quarter valued at approximately $7,514,000. Two Sigma Investments LP boosted its position in Olin by 890.4% in the 4th quarter. Two Sigma Investments LP now owns 451,020 shares of the specialty chemicals company’s stock worth $15,244,000 after purchasing an additional 405,480 shares in the last quarter. Finally, Tidal Investments LLC acquired a new stake in shares of Olin during the 4th quarter worth approximately $331,000. 88.67% of the stock is owned by hedge funds and other institutional investors.

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.