UBS Group Cuts Olin (NYSE:OLN) Price Target to $21.00

Olin (NYSE:OLN) had its price objective decreased by UBS Group from $23.00 to $21.00 in a report issued on Monday morning,Benzinga reports. UBS Group currently has a neutral rating on the specialty chemicals company’s stock.

A number of other equities analysts have also recently commented on OLN. The Goldman Sachs Group lowered their target price on Olin from $31.00 to $24.00 and set a “neutral” rating for the company in a report on Thursday, July 16th. Citigroup lowered shares of Olin from a “neutral” rating to an “underperform” rating in a research note on Tuesday, June 30th. Morgan Stanley increased their price target on shares of Olin from $18.00 to $22.00 and gave the stock an “underweight” rating in a research report on Monday, May 11th. JPMorgan Chase & Co. dropped their price objective on shares of Olin from $26.00 to $25.00 and set a “neutral” rating for the company in a report on Thursday, June 18th. Finally, Royal Bank Of Canada cut their target price on shares of Olin from $24.00 to $20.00 and set a “sector perform” rating on the stock in a research note on Monday. One analyst has rated the stock with a Strong Buy rating, one has given a Buy rating, ten have assigned a Hold rating and four have issued a Sell rating to the stock. According to data from MarketBeat, the stock has an average rating of “Reduce” and an average price target of $23.08.

Olin Price Performance

OLN stock opened at $18.71 on Monday. The company has a current ratio of 1.42, a quick ratio of 0.87 and a debt-to-equity ratio of 1.77. The company has a market capitalization of $2.13 billion, a PE ratio of -15.21 and a beta of 1.22. Olin has a 12-month low of $17.73 and a 12-month high of $30.46. The business’s fifty day moving average price is $22.28 and its 200 day moving average price is $24.66.

Institutional Trading of Olin

A number of large investors have recently made changes to their positions in the company. Orbis Allan Gray Ltd increased its position 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 valued at $79,249,000 after purchasing an additional 3,111,393 shares during the last quarter. Millennium Management LLC lifted its position in shares of 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 worth $62,143,000 after purchasing an additional 2,272,877 shares during the last quarter. Semper Augustus Investments Group LLC grew its stake 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 purchasing an additional 1,126,809 shares in the last quarter. Dimensional Fund Advisors LP grew its stake 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 purchasing an additional 1,031,498 shares in the last quarter. Finally, Amundi purchased a new position in Olin in the third quarter valued at $24,418,000. 88.67% of the stock is currently owned by hedge funds and other institutional investors.

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.