Olin Corporation (NYSE:OLN) Receives $26.46 Consensus PT from Brokerages

Shares of Olin Corporation (NYSE:OLN – Get Free Report) have earned a consensus recommendation of “Hold” from the sixteen analysts that are presently covering the company, Marketbeat.com reports. Four investment analysts have rated the stock with a sell rating, nine have issued a hold rating, two have issued a buy rating and one has assigned a strong buy rating to the company. The average 1 year price objective among analysts that have covered the stock in the last year is $26.4615.

OLN has been the topic of several research reports. Royal Bank Of Canada set a $30.00 price objective on shares of Olin and gave the company a “sector perform” rating in a report on Friday, April 10th. JPMorgan Chase & Co. reduced their target price on Olin from $26.00 to $25.00 and set a “neutral” rating for the company in a research note on Thursday, June 18th. Mizuho decreased their target price on Olin from $26.00 to $23.00 and set a “neutral” rating for the company in a research report on Wednesday, July 1st. Weiss Ratings reaffirmed a “sell (d)” rating on shares of Olin in a research note on Friday, May 22nd. Finally, The Goldman Sachs Group cut their price target on Olin from $31.00 to $24.00 and set a “neutral” rating on the stock in a report on Thursday, July 16th.

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Hedge Funds Weigh In On Olin

Institutional investors have recently modified their holdings of the company. Orbis Allan Gray Ltd lifted its holdings in shares of Olin by 448.9% in the 4th quarter. Orbis Allan Gray Ltd now owns 3,804,561 shares of the specialty chemicals company’s stock worth $79,249,000 after purchasing an additional 3,111,393 shares in the last quarter. Millennium Management LLC increased its stake in Olin by 1,063.0% during the 3rd quarter. Millennium Management LLC now owns 2,486,702 shares of the specialty chemicals company’s stock valued at $62,143,000 after purchasing an additional 2,272,877 shares in the last quarter. Semper Augustus Investments Group LLC increased its stake in Olin by 141.3% during the 3rd quarter. Semper Augustus Investments Group LLC now owns 1,924,245 shares of the specialty chemicals company’s stock valued at $48,087,000 after purchasing an additional 1,126,809 shares in the last quarter. Dimensional Fund Advisors LP raised its holdings in 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 last quarter. Finally, Amundi acquired a new position in Olin during the third quarter worth $24,418,000. 88.67% of the stock is owned by institutional investors and hedge funds.

Olin Trading Up 3.9%

NYSE:OLN opened at $22.19 on Monday. The company has a current ratio of 1.36, a quick ratio of 0.82 and a debt-to-equity ratio of 1.73. The stock has a market capitalization of $2.53 billion, a price-to-earnings ratio of -19.82 and a beta of 1.21. The firm has a fifty day simple moving average of $22.95 and a two-hundred day simple moving average of $24.80. Olin has a 12 month low of $18.08 and a 12 month high of $30.46.

Olin Company Profile

(Get Free Report)

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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