Olin (NYSE:OLN – Get Free Report) had its price objective boosted by equities researchers at JPMorgan Chase & Co. from $20.00 to $26.00 in a research note issued on Friday,Benzinga reports. The brokerage currently has a “neutral” rating on the specialty chemicals company’s stock. JPMorgan Chase & Co.‘s target price would suggest a potential downside of 4.38% from the company’s current price.
A number of other research firms have also recently weighed in on OLN. Zacks Research raised Olin from a “strong sell” rating to a “hold” rating in a report on Monday, April 13th. The Goldman Sachs Group increased their target price on Olin from $22.00 to $31.00 and gave the company a “neutral” rating in a report on Tuesday. Deutsche Bank Aktiengesellschaft reissued a “hold” rating and set a $26.00 target price on shares of Olin in a report on Tuesday, February 10th. KeyCorp reduced their target price on Olin from $29.00 to $26.00 and set an “overweight” rating for the company in a report on Monday, February 2nd. Finally, Wells Fargo & Company reissued an “overweight” rating and set a $37.00 target price on shares of Olin in a report on Sunday. One equities research analyst has rated the stock with a Strong Buy rating, three have given a Buy rating, eleven have given a Hold rating and two have given a Sell rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of $27.79.
View Our Latest Analysis on OLN
Olin Price Performance
Insider Transactions at Olin
In other Olin news, VP Angela M. Castle sold 2,379 shares of the firm’s stock in a transaction on Tuesday, February 24th. The stock was sold at an average price of $24.25, for a total transaction of $57,690.75. Following the completion of the sale, the vice president owned 1,528 shares of the company’s stock, valued at $37,054. This trade represents a 60.89% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 1.60% of the stock is currently owned by company insiders.
Institutional Investors Weigh In On Olin
Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Orbis Allan Gray Ltd boosted its position in shares of Olin by 448.9% during the fourth quarter. Orbis Allan Gray Ltd now owns 3,804,561 shares of the specialty chemicals company’s stock worth $79,249,000 after buying an additional 3,111,393 shares during the period. Millennium Management LLC boosted its position in shares of Olin by 1,063.0% during the third quarter. Millennium Management LLC now owns 2,486,702 shares of the specialty chemicals company’s stock worth $62,143,000 after buying an additional 2,272,877 shares during the period. Semper Augustus Investments Group LLC boosted its position in shares of Olin by 141.3% during the third quarter. Semper Augustus Investments Group LLC now owns 1,924,245 shares of the specialty chemicals company’s stock worth $48,087,000 after buying an additional 1,126,809 shares during the period. Dimensional Fund Advisors LP boosted its position in shares of Olin by 22.4% during the first quarter. Dimensional Fund Advisors LP now owns 5,627,997 shares of the specialty chemicals company’s stock worth $167,311,000 after buying an additional 1,031,498 shares during the period. Finally, Amundi purchased a new position in shares of Olin during the third quarter worth $24,418,000. Institutional investors and hedge funds 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.
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