Olin (NYSE:OLN – Get Free Report) had its target price lowered by analysts at Truist Financial from $24.00 to $20.00 in a report released on Monday,Benzinga reports. The brokerage currently has a “hold” rating on the specialty chemicals company’s stock. Truist Financial’s price target suggests a potential upside of 6.73% from the stock’s previous close.
A number of other brokerages have also commented on OLN. Bank of America lowered shares of Olin from a “buy” rating to an “underperform” rating and cut their price target for the stock from $32.00 to $21.00 in a report on Tuesday, June 30th. BMO Capital Markets decreased their price objective on Olin from $30.00 to $25.00 and set a “market perform” rating for the company in a report on Monday, July 6th. UBS Group raised their target price on Olin from $29.00 to $31.00 and gave the stock a “neutral” rating in a research report on Wednesday, May 13th. JPMorgan Chase & Co. cut 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. Finally, Weiss Ratings reiterated a “sell (d)” rating on shares of Olin in a research report on Friday, May 22nd. One investment analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating, nine have issued a Hold rating and four have issued a Sell rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus target price of $26.23.
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Olin Trading Up 1.2%
Institutional Investors Weigh In On Olin
Several large investors have recently modified their holdings of the company. Rockefeller Capital Management L.P. raised its stake in Olin by 115.2% during the fourth quarter. Rockefeller Capital Management L.P. now owns 1,231 shares of the specialty chemicals company’s stock worth $26,000 after buying an additional 659 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. bought a new stake in Olin during the first quarter valued at $32,000. Sunbelt Securities Inc. bought a new stake in Olin during the first quarter valued at $45,000. UMB Bank n.a. grew its holdings in Olin by 34.0% during the 4th quarter. UMB Bank n.a. now owns 2,597 shares of the specialty chemicals company’s stock worth $54,000 after acquiring an additional 659 shares during the period. Finally, NewEdge Advisors LLC grew its holdings in Olin by 45.0% during the 3rd quarter. NewEdge Advisors LLC now owns 2,323 shares of the specialty chemicals company’s stock worth $58,000 after acquiring an additional 721 shares during the period. 88.67% of the stock is currently owned by institutional investors and hedge funds.
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.
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