Olin (NYSE:OLN) Lowered to “Strong Sell” Rating by Wall Street Zen

Wall Street Zen lowered shares of Olin (NYSE:OLN) from a sell rating to a strong sell rating in a research report sent to investors on Saturday.

A number of other brokerages have also recently issued reports on OLN. Truist Financial cut their target price on shares of Olin from $24.00 to $20.00 and set a “hold” rating on the stock in a report on Monday, August 3rd. Royal Bank Of Canada dropped their price target on Olin from $24.00 to $20.00 and set a “sector perform” rating on the stock in a research report on Monday, August 3rd. Zacks Research upgraded Olin from a “strong sell” rating to a “hold” rating in a research note on Monday, April 13th. UBS Group dropped their target price on Olin from $23.00 to $21.00 and set a “neutral” rating on the stock in a research report on Monday, August 3rd. Finally, Wells Fargo & Company reiterated an “equal weight” rating and issued a $20.00 target price (down from $25.00) on shares of Olin in a research note on Monday, August 3rd. One equities research 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 assigned a Sell rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Reduce” and a consensus price target of $23.08.

Olin Stock Down 0.7%

Shares of NYSE:OLN opened at $18.61 on Friday. The company’s fifty day moving average is $21.98 and its two-hundred day moving average is $24.58. The company has a debt-to-equity ratio of 1.77, a quick ratio of 0.87 and a current ratio of 1.42. Olin has a 1-year low of $17.73 and a 1-year high of $30.46. The stock has a market capitalization of $2.12 billion, a price-to-earnings ratio of -15.13 and a beta of 1.22.

Hedge Funds Weigh In On Olin

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. Royal Bank of Canada raised its stake in Olin by 20.2% during the 1st quarter. Royal Bank of Canada now owns 85,198 shares of the specialty chemicals company’s stock valued at $2,066,000 after acquiring an additional 14,344 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. bought a new position in Olin in the 1st quarter valued at about $32,000. Jones Financial Companies Lllp increased its stake in shares of Olin by 467.9% during the first quarter. Jones Financial Companies Lllp now owns 13,805 shares of the specialty chemicals company’s stock valued at $335,000 after acquiring an additional 11,374 shares during the period. Goldman Sachs Group Inc. increased its position in shares of Olin by 57.6% during the 1st quarter. Goldman Sachs Group Inc. now owns 588,602 shares of the specialty chemicals company’s stock valued at $14,268,000 after purchasing an additional 215,235 shares during the period. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its position in Olin by 6.7% in the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 317,472 shares of the specialty chemicals company’s stock worth $7,696,000 after acquiring an additional 20,047 shares in the last quarter. 88.67% of the stock is owned by institutional investors.

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.