A number of other analysts also recently weighed in on the stock. Barclays reduced their target price on shares of Olin from $22.00 to $21.00 and set an “equal weight” rating on the stock in a research report on Thursday, October 3rd. Citigroup downgraded shares of Olin from a “buy” rating to a “neutral” rating and reduced their target price for the stock from $24.00 to $19.00 in a research report on Wednesday, October 9th. Bank of America reduced their target price on shares of Olin from $23.00 to $22.00 and set a “buy” rating on the stock in a research report on Monday, November 4th. JPMorgan Chase & Co. downgraded shares of Olin from an “overweight” rating to a “neutral” rating and reduced their target price for the stock from $19.00 to $18.00 in a research report on Thursday, October 17th. Finally, Tudor Pickering downgraded shares of Olin from a “buy” rating to a “hold” rating in a research report on Monday, November 4th. One equities research analyst has rated the stock with a sell rating, nine have issued a hold rating, five have issued a buy rating and one has issued a strong buy rating to the company. Olin currently has an average rating of “Hold” and an average price target of $23.77.
NYSE:OLN opened at $18.21 on Thursday. The firm’s 50-day moving average price is $18.53 and its 200-day moving average price is $19.66. The company has a market capitalization of $3.08 billion, a PE ratio of 10.41, a P/E/G ratio of 2.01 and a beta of 1.59. The company has a debt-to-equity ratio of 1.25, a current ratio of 1.64 and a quick ratio of 0.99. Olin has a 1-year low of $15.38 and a 1-year high of $27.32.
Several hedge funds and other institutional investors have recently made changes to their positions in OLN. Stonebridge Capital Advisors LLC purchased a new stake in shares of Olin during the 2nd quarter valued at about $33,000. Steward Partners Investment Advisory LLC purchased a new stake in shares of Olin during the 2nd quarter valued at about $35,000. Bell Rock Capital LLC purchased a new stake in shares of Olin during the 2nd quarter valued at about $35,000. Advisory Services Network LLC boosted its holdings in shares of Olin by 59.1% during the 2nd quarter. Advisory Services Network LLC now owns 2,053 shares of the specialty chemicals company’s stock valued at $45,000 after acquiring an additional 763 shares during the last quarter. Finally, Cerebellum GP LLC bought a new position in shares of Olin in the 3rd quarter worth approximately $46,000. 93.75% of the stock is currently owned by hedge funds and other institutional investors.
Olin Corporation manufactures and distributes chemical products in the United States and internationally. It operates through three segments: Chlor Alkali Products and Vinyls; Epoxy; and Winchester. The Chlor Alkali Products and Vinyls segment offers chlorine and caustic soda, ethylene dichloride and vinyl chloride monomers, methyl chloride, methylene chloride, chloroform, carbon tetrachloride, perchloroethylene, trichloroethylene and vinylidene chloride, hydrochloric acid, hydrogen, bleach products, potassium hydroxide, chlorinated organics intermediates and solvents, and sodium hypochlorite.The Epoxy segment provides allyl chloride and epichlorohydrin, as well as acetone, bisphenol, cumene, and phenol for use in resins and other plastic materials, water purification, and pesticides, as well as for the manufacturers of polymers; liquid and solid epoxy resins that are used in adhesives, paints and coatings, composites, and flooring; and differentiated epoxy resins for use in electrical laminates, paints and coatings, wind blades, electronics, and construction, as well as offers additives.
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