Truist Financial Increases Olin (NYSE:OLN) Price Target to $26.00

Olin (NYSE:OLN) had its price target upped by Truist Financial from $20.00 to $26.00 in a research report issued on Monday,Benzinga reports. The firm currently has a “hold” rating on the specialty chemicals company’s stock. Truist Financial’s price objective indicates a potential downside of 7.83% from the company’s current price.

OLN has been the topic of a number of other research reports. Morgan Stanley reiterated an “underweight” rating and issued a $22.00 target price on shares of Olin in a research report on Monday. Wells Fargo & Company restated an “overweight” rating and issued a $37.00 price objective on shares of Olin in a research report on Sunday. Citigroup boosted their price objective on shares of Olin from $26.00 to $30.00 and gave the company a “neutral” rating in a research report on Thursday, April 16th. Weiss Ratings restated a “sell (d+)” rating on shares of Olin in a research report on Thursday, January 22nd. Finally, Deutsche Bank Aktiengesellschaft restated a “hold” rating and issued a $26.00 price objective on shares of Olin in a research report on Tuesday, February 10th. One equities research analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating, nine have assigned a Hold rating and two have issued a Sell rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Hold” and an average price target of $27.50.

Olin Price Performance

Shares of Olin stock traded up $1.37 on Monday, hitting $28.21. 393,538 shares of the company traded hands, compared to its average volume of 2,988,271. The company has a market cap of $3.21 billion, a P/E ratio of -25.16 and a beta of 1.21. The firm’s 50-day simple moving average is $26.79 and its 200 day simple moving average is $23.68. Olin has a 12-month low of $18.08 and a 12-month high of $30.46. The company has a current ratio of 1.36, a quick ratio of 0.82 and a debt-to-equity ratio of 1.73.

Insider Buying and Selling at Olin

In other news, VP Angela M. Castle sold 2,379 shares of Olin stock in a transaction dated Tuesday, February 24th. The shares were sold at an average price of $24.25, for a total transaction of $57,690.75. Following the sale, the vice president owned 1,528 shares of the company’s stock, valued at approximately $37,054. The trade was a 60.89% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Insiders own 1.60% of the company’s stock.

Institutional Investors Weigh In On Olin

Large investors have recently modified their holdings of the stock. Strategic Advocates LLC bought a new stake in shares of Olin during the 3rd quarter valued at about $25,000. Rockefeller Capital Management L.P. boosted its stake 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 purchasing an additional 659 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. bought a new stake in shares of Olin during the 1st quarter valued at about $32,000. Bessemer Group Inc. boosted its stake in shares of Olin by 712.7% during the 3rd quarter. Bessemer Group Inc. now owns 1,341 shares of the specialty chemicals company’s stock valued at $34,000 after purchasing an additional 1,176 shares in the last quarter. Finally, Allworth Financial LP boosted its stake in shares of Olin by 114.0% during the 3rd quarter. Allworth Financial LP now owns 1,740 shares of the specialty chemicals company’s stock valued at $43,000 after purchasing an additional 927 shares in the last quarter. Institutional investors own 88.67% of the company’s stock.

Olin Company Profile

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.