Olin (OLN) Upgraded to Neutral by Nomura
Olin (NYSE:OLN) was upgraded by analysts at Nomura from a “reduce” rating to a “neutral” rating in a report issued on Monday, FinViz reports. The firm currently has a $25.00 price objective on the specialty chemicals company’s stock, up from their previous price objective of $22.00. Nomura’s price objective suggests a potential downside of 0.28% from the company’s previous close.
OLN has been the topic of several other reports. KeyCorp initiated coverage on Olin in a research report on Monday, January 28th. They set an “overweight” rating and a $30.00 price target on the stock. ValuEngine downgraded Olin from a “hold” rating to a “sell” rating in a research report on Friday, March 1st. Cowen reaffirmed an “outperform” rating and set a $32.00 price target on shares of Olin in a research report on Wednesday, February 6th. Finally, Zacks Investment Research downgraded Olin from a “hold” rating to a “sell” rating in a research report on Thursday, January 10th. Two analysts have rated the stock with a sell rating, four have issued a hold rating and seven have given a buy rating to the stock. The company presently has a consensus rating of “Hold” and a consensus price target of $29.55.
Olin stock traded up $0.24 during mid-day trading on Monday, reaching $25.07. 10,817 shares of the company were exchanged, compared to its average volume of 2,379,674. Olin has a 12-month low of $17.87 and a 12-month high of $34.42. The company has a quick ratio of 0.89, a current ratio of 1.53 and a debt-to-equity ratio of 1.10. The firm has a market cap of $4.09 billion, a P/E ratio of 14.33, a P/E/G ratio of 0.41 and a beta of 1.59.
In other news, VP Brett A. Flaugher sold 12,500 shares of the stock in a transaction dated Friday, February 22nd. The shares were sold at an average price of $26.53, for a total transaction of $331,625.00. Following the sale, the vice president now directly owns 40,629 shares of the company’s stock, valued at approximately $1,077,887.37. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Corporate insiders own 1.90% of the company’s stock.
A number of institutional investors have recently modified their holdings of the stock. SignalPoint Asset Management LLC lifted its position in shares of Olin by 2.9% during the 4th quarter. SignalPoint Asset Management LLC now owns 20,201 shares of the specialty chemicals company’s stock worth $406,000 after purchasing an additional 563 shares during the last quarter. Pflug Koory LLC boosted its holdings in shares of Olin by 29.8% during the fourth quarter. Pflug Koory LLC now owns 2,985 shares of the specialty chemicals company’s stock worth $60,000 after purchasing an additional 685 shares during the period. State Board of Administration of Florida Retirement System boosted its holdings in shares of Olin by 0.4% during the fourth quarter. State Board of Administration of Florida Retirement System now owns 195,710 shares of the specialty chemicals company’s stock worth $3,936,000 after purchasing an additional 770 shares during the period. Arizona State Retirement System boosted its holdings in shares of Olin by 1.0% during the fourth quarter. Arizona State Retirement System now owns 119,744 shares of the specialty chemicals company’s stock worth $2,408,000 after purchasing an additional 1,166 shares during the period. Finally, Lavaca Capital LLC acquired a new stake in shares of Olin during the fourth quarter worth approximately $29,000. 87.30% of the stock is currently owned by hedge funds and other institutional investors.
Olin Company Profile
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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