Olin (NYSE:OLN) Rating Lowered to Strong Sell at Wall Street Zen

Olin (NYSE:OLN) was downgraded by Wall Street Zen from a “sell” rating to a “strong sell” rating in a note issued to investors on Saturday.

Other equities analysts also recently issued reports about the company. Truist Financial decreased their price target on Olin from $24.00 to $20.00 and set a “hold” rating for the company in a research note on Monday, August 3rd. JPMorgan Chase & Co. reduced their target price on Olin from $26.00 to $25.00 and set a “neutral” rating on the stock in a report on Thursday, June 18th. BMO Capital Markets decreased their target price on Olin from $30.00 to $25.00 and set a “market perform” rating for the company in a research report on Monday, July 6th. Wells Fargo & Company reiterated an “equal weight” rating and issued a $20.00 price target (down from $25.00) on shares of Olin in a report on Monday, August 3rd. Finally, The Goldman Sachs Group dropped their price target on Olin from $24.00 to $20.00 and set a “neutral” rating on the stock in a research report on Tuesday, August 4th. One investment analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating, ten have assigned a Hold rating and four have given a Sell rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Reduce” and a consensus price target of $23.08.

Olin Price Performance

OLN opened at $18.61 on Friday. The company has a 50-day moving average of $21.98 and a 200-day moving average of $24.59. The company has a market capitalization of $2.12 billion, a P/E ratio of -15.13 and a beta of 1.22. Olin has a 1-year low of $17.73 and a 1-year high of $30.46. The company has a debt-to-equity ratio of 1.77, a quick ratio of 0.87 and a current ratio of 1.42.

Institutional Trading of Olin

Several hedge funds have recently made changes to their positions in the stock. Stanley Laman Group Ltd. bought a new stake in Olin in the fourth quarter valued at $3,722,000. Amundi grew its position in shares of Olin by 337.2% during the first quarter. Amundi now owns 684,036 shares of the specialty chemicals company’s stock worth $20,336,000 after acquiring an additional 527,586 shares during the last quarter. UBS Group AG increased its holdings in shares of Olin by 52.2% in the 4th quarter. UBS Group AG now owns 1,098,312 shares of the specialty chemicals company’s stock worth $22,878,000 after acquiring an additional 376,543 shares during the period. Dimensional Fund Advisors LP increased its holdings in shares of Olin by 22.4% in the 1st quarter. Dimensional Fund Advisors LP now owns 5,627,997 shares of the specialty chemicals company’s stock worth $167,311,000 after acquiring an additional 1,031,498 shares during the period. Finally, Pzena Investment Management LLC lifted its position in Olin by 17.5% in the 4th quarter. Pzena Investment Management LLC now owns 4,507,913 shares of the specialty chemicals company’s stock valued at $93,900,000 after purchasing an additional 671,250 shares during 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.