Olin (NYSE:OLN) Price Target Lowered to $24.00 at Truist Financial

Olin (NYSE:OLN) had its price objective cut by Truist Financial from $26.00 to $24.00 in a research note issued to investors on Monday,Benzinga reports. The firm presently has a “hold” rating on the specialty chemicals company’s stock. Truist Financial’s target price would indicate a potential upside of 8.80% from the stock’s previous close.

Other equities analysts have also recently issued research reports about the company. Citigroup cut Olin from a “neutral” rating to an “underperform” rating in a research note on Tuesday, June 30th. JPMorgan Chase & Co. cut their price target on shares of Olin from $26.00 to $25.00 and set a “neutral” rating on the stock in a report on Thursday, June 18th. The Goldman Sachs Group decreased their price objective on shares of Olin from $31.00 to $24.00 and set a “neutral” rating for the company in a research note on Thursday. Bank of America cut shares of Olin from a “buy” rating to an “underperform” rating and lowered their price objective for the stock from $32.00 to $21.00 in a research report on Tuesday, June 30th. Finally, Morgan Stanley boosted their target price on shares of Olin from $18.00 to $22.00 and gave the company an “underweight” rating in a research note on Monday, May 11th. One research analyst has rated the stock with a Strong Buy rating, two have given a Buy rating, nine have given a Hold rating and four have assigned a Sell rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Hold” and an average price target of $26.46.

Olin Price Performance

Shares of NYSE OLN traded up $0.07 during mid-day trading on Monday, reaching $22.06. The company had a trading volume of 248,791 shares, compared to its average volume of 2,946,871. The company has a 50-day moving average price of $23.68 and a two-hundred day moving average price of $24.73. The stock has a market cap of $2.51 billion, a PE ratio of -19.61 and a beta of 1.21. The company has a current ratio of 1.36, a quick ratio of 0.82 and a debt-to-equity ratio of 1.73. Olin has a 1-year low of $18.08 and a 1-year high of $30.46.

Institutional Inflows and Outflows

Several large investors have recently added to or reduced their stakes in OLN. Rockefeller Capital Management L.P. grew 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 acquiring an additional 659 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. purchased a new stake in shares of Olin during the first quarter worth $32,000. Sunbelt Securities Inc. acquired a new stake in Olin during the first quarter valued at $45,000. Allworth Financial LP boosted its position in Olin by 114.0% during the third 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 during the last quarter. Finally, NewEdge Advisors LLC grew its stake in Olin by 45.0% in the third quarter. NewEdge Advisors LLC now owns 2,323 shares of the specialty chemicals company’s stock valued at $58,000 after purchasing an additional 721 shares in the last quarter. Institutional investors and hedge funds own 88.67% of the company’s stock.

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.