KeyCorp Trims Olin (NYSE:OLN) Target Price to $73.00

Olin (NYSE:OLN) had its price objective decreased by research analysts at KeyCorp from $78.00 to $73.00 in a research note issued to investors on Monday, Benzinga reports. The firm presently has an “overweight” rating on the specialty chemicals company’s stock. KeyCorp’s target price indicates a potential upside of 36.50% from the company’s current price.

A number of other brokerages have also issued reports on OLN. Barclays raised their price target on Olin from $57.00 to $59.00 and gave the stock an “equal weight” rating in a research note on Thursday, April 4th. Piper Sandler raised their price target on Olin from $72.00 to $75.00 and gave the stock an “overweight” rating in a research note on Monday. Royal Bank of Canada raised their price target on Olin from $64.00 to $69.00 and gave the stock an “outperform” rating in a research note on Friday, April 19th. Wells Fargo & Company raised their price target on Olin from $56.00 to $60.00 and gave the stock an “equal weight” rating in a research note on Wednesday, April 3rd. Finally, UBS Group lifted their target price on Olin from $56.00 to $58.00 and gave the company a “neutral” rating in a research report on Friday, January 26th. Two research analysts have rated the stock with a sell rating, eight have assigned a hold rating and five have given a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average price target of $60.00.

Olin Trading Up 1.2 %

Shares of OLN stock opened at $53.48 on Monday. Olin has a 1 year low of $41.71 and a 1 year high of $60.60. The company has a debt-to-equity ratio of 1.22, a current ratio of 1.38 and a quick ratio of 0.80. The stock’s 50 day simple moving average is $55.63 and its two-hundred day simple moving average is $51.67. The company has a market cap of $6.40 billion, a PE ratio of 19.24, a price-to-earnings-growth ratio of 0.29 and a beta of 1.44.

Olin (NYSE:OLN) last issued its quarterly earnings results on Friday, April 26th. The specialty chemicals company reported $0.40 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.36 by $0.04. Olin had a return on equity of 14.47% and a net margin of 5.32%. The firm had revenue of $1.64 billion during the quarter, compared to analyst estimates of $1.65 billion. During the same period last year, the company earned $1.16 EPS. Olin’s quarterly revenue was down 11.3% compared to the same quarter last year. Research analysts predict that Olin will post 3.73 earnings per share for the current year.

Insider Transactions at Olin

In other news, CFO Todd A. Slater sold 63,250 shares of the company’s stock in a transaction dated Tuesday, January 30th. The stock was sold at an average price of $54.15, for a total value of $3,424,987.50. Following the sale, the chief financial officer now owns 137,517 shares in the company, valued at $7,446,545.55. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In related news, CFO Todd A. Slater sold 63,250 shares of the company’s stock in a transaction dated Tuesday, January 30th. The stock was sold at an average price of $54.15, for a total value of $3,424,987.50. Following the completion of the transaction, the chief financial officer now owns 137,517 shares of the company’s stock, valued at approximately $7,446,545.55. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Scott Mcdougald Sutton sold 48,896 shares of the company’s stock in a transaction dated Tuesday, February 27th. The stock was sold at an average price of $52.39, for a total value of $2,561,661.44. Following the completion of the transaction, the chief executive officer now directly owns 90,327 shares of the company’s stock, valued at approximately $4,732,231.53. The disclosure for this sale can be found here. Insiders have sold 753,274 shares of company stock worth $40,434,124 over the last quarter. 1.80% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Olin

A number of hedge funds have recently made changes to their positions in the company. Deroy & Devereaux Private Investment Counsel Inc. raised its holdings in shares of Olin by 3.3% during the first quarter. Deroy & Devereaux Private Investment Counsel Inc. now owns 32,865 shares of the specialty chemicals company’s stock valued at $1,932,000 after acquiring an additional 1,050 shares during the last quarter. Spire Wealth Management raised its holdings in shares of Olin by 22.8% during the first quarter. Spire Wealth Management now owns 3,114 shares of the specialty chemicals company’s stock valued at $183,000 after acquiring an additional 579 shares during the last quarter. Louisiana State Employees Retirement System raised its holdings in shares of Olin by 0.6% during the first quarter. Louisiana State Employees Retirement System now owns 34,600 shares of the specialty chemicals company’s stock valued at $2,034,000 after acquiring an additional 200 shares during the last quarter. Fifth Third Bancorp grew its position in shares of Olin by 30.0% in the first quarter. Fifth Third Bancorp now owns 858 shares of the specialty chemicals company’s stock valued at $50,000 after purchasing an additional 198 shares in the last quarter. Finally, Raymond James & Associates grew its position in shares of Olin by 2.6% in the first quarter. Raymond James & Associates now owns 156,419 shares of the specialty chemicals company’s stock valued at $9,197,000 after purchasing an additional 3,906 shares in the last quarter. Institutional investors and hedge funds own 88.67% of the company’s stock.

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.