Olin (NYSE:OLN) Given New $21.00 Price Target at Citigroup

Olin (NYSE:OLN) had its target price lowered by analysts at Citigroup from $23.00 to $21.00 in a report released on Thursday,Benzinga reports. The brokerage currently has a “neutral” rating on the specialty chemicals company’s stock. Citigroup’s target price indicates a potential upside of 2.71% from the company’s previous close.

OLN has been the topic of a number of other research reports. Royal Bank Of Canada set a $26.00 price target on shares of Olin and gave the stock a “sector perform” rating in a research note on Tuesday, October 14th. Mizuho set a $26.00 target price on shares of Olin in a report on Friday, October 3rd. KeyCorp dropped their target price on shares of Olin from $30.00 to $29.00 and set an “overweight” rating on the stock in a research note on Wednesday, October 29th. Wells Fargo & Company decreased their price objective on shares of Olin from $25.00 to $22.00 and set an “equal weight” rating for the company in a report on Wednesday, October 29th. Finally, UBS Group cut their target price on Olin from $24.00 to $22.00 and set a “neutral” rating on the stock in a research note on Wednesday, October 29th. One research analyst has rated the stock with a Strong Buy rating, two have given a Buy rating, eleven have assigned a Hold rating and two have issued a Sell rating to the stock. According to MarketBeat, the company currently has an average rating of “Hold” and an average target price of $24.71.

Olin Stock Up 0.7%

Shares of OLN traded up $0.14 during mid-day trading on Thursday, reaching $20.45. The company had a trading volume of 1,169,264 shares, compared to its average volume of 2,265,736. The company has a debt-to-equity ratio of 1.49, a quick ratio of 0.89 and a current ratio of 1.56. The company has a market capitalization of $2.33 billion, a price-to-earnings ratio of 44.46, a price-to-earnings-growth ratio of 6.70 and a beta of 1.66. The firm has a 50-day moving average price of $21.25 and a 200 day moving average price of $21.73. Olin has a 52 week low of $17.66 and a 52 week high of $34.76.

Olin (NYSE:OLN) last announced its quarterly earnings data on Monday, October 27th. The specialty chemicals company reported $0.40 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.09 by $0.31. Olin had a return on equity of 3.36% and a net margin of 0.79%.The business had revenue of $1.71 billion during the quarter, compared to analysts’ expectations of $1.74 billion. During the same quarter in the previous year, the business earned ($0.21) earnings per share. The firm’s quarterly revenue was up 7.8% compared to the same quarter last year. On average, sell-side analysts forecast that Olin will post 1.38 EPS for the current year.

Insider Activity

In related news, VP Teresa M. Vermillion sold 4,500 shares of Olin stock in a transaction that occurred on Wednesday, November 26th. The stock was sold at an average price of $20.86, for a total transaction of $93,870.00. Following the sale, the vice president owned 17,199 shares of the company’s stock, valued at approximately $358,771.14. This trade represents a 20.74% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Corporate insiders own 1.60% of the company’s stock.

Institutional Trading of Olin

Several hedge funds have recently bought and sold shares of the stock. ARGA Investment Management LP raised its holdings in shares of Olin by 0.9% during the 3rd quarter. ARGA Investment Management LP now owns 60,359 shares of the specialty chemicals company’s stock worth $1,508,000 after acquiring an additional 546 shares in the last quarter. Wilmington Savings Fund Society FSB lifted its position in shares of Olin by 9.9% during the third quarter. Wilmington Savings Fund Society FSB now owns 6,412 shares of the specialty chemicals company’s stock worth $160,000 after purchasing an additional 579 shares during the last quarter. FORA Capital LLC boosted its position in Olin by 2.6% in the 2nd quarter. FORA Capital LLC now owns 24,453 shares of the specialty chemicals company’s stock valued at $491,000 after buying an additional 625 shares during the period. VIRGINIA RETIREMENT SYSTEMS ET Al grew its stake in Olin by 1.1% in the third quarter. VIRGINIA RETIREMENT SYSTEMS ET Al now owns 62,678 shares of the specialty chemicals company’s stock worth $1,566,000 after purchasing an additional 700 shares in the last quarter. Finally, NewEdge Advisors LLC grew its position in shares of Olin by 45.0% during the 3rd quarter. NewEdge Advisors LLC now owns 2,323 shares of the specialty chemicals company’s stock worth $58,000 after buying an additional 721 shares in the last quarter. Hedge funds and other institutional investors own 88.67% of the company’s stock.

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.