Olin (NYSE:OLN) Raised to Buy at Zacks Investment Research

Olin (NYSE:OLN) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a report released on Friday, January 12th. The brokerage currently has a $42.00 target price on the specialty chemicals company’s stock. Zacks Investment Research‘s target price would indicate a potential upside of 16.47% from the company’s current price.

According to Zacks, “Olin Corporation is a manufacturer concentrated in three business segments: Chlor Alkali Products, Chemical Distribution and Winchester. Chlor Alkali Products, with eight U.S. manufacturing facilities and one Canadian manufacturing facility, produces chlorine and caustic soda, hydrochloric acid, hydrogen, bleach products and potassium hydroxide. Chemical Distribution manufactures bleach products and distributes caustic soda, bleach products, potassium hydroxide and hydrochloric acid. Winchester, with its principal manufacturing facilities in East Alton, IL and Oxford, MS, produces and distributes sporting ammunition, law enforcement ammunition, reloading components, small caliber military ammunition and components, and industrial cartridges. The company markets its products through its sales force, as well as directly to various industrial customers, mass merchants, retailers, wholesalers, other distributors, and the U.S. Government and its prime contractors. “

A number of other research analysts also recently commented on OLN. Citigroup began coverage on Olin in a report on Wednesday, September 27th. They issued a “buy” rating and a $39.00 price target for the company. SunTrust Banks reissued a “buy” rating and issued a $44.00 price target (up previously from $36.00) on shares of Olin in a report on Monday, October 2nd. Royal Bank of Canada reissued a “buy” rating and issued a $42.00 price target on shares of Olin in a report on Thursday, December 14th. Morgan Stanley began coverage on Olin in a report on Tuesday, January 9th. They issued an “overweight” rating and a $45.00 price target for the company. Finally, Cowen reissued an “outperform” rating and issued a $42.00 price target (up previously from $39.00) on shares of Olin in a report on Tuesday, October 10th. Two equities research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company’s stock. The stock has a consensus rating of “Buy” and a consensus target price of $40.22.

Shares of Olin (OLN) traded down $0.89 on Friday, reaching $36.06. The company had a trading volume of 2,511,111 shares, compared to its average volume of 1,722,910. The stock has a market capitalization of $6,150.21, a P/E ratio of 45.62, a P/E/G ratio of 1.09 and a beta of 1.36. Olin has a 1 year low of $27.79 and a 1 year high of $38.84. The company has a debt-to-equity ratio of 1.59, a current ratio of 1.72 and a quick ratio of 1.03.

In related news, SVP John Maurice Sampson sold 3,000 shares of the firm’s stock in a transaction that occurred on Monday, November 13th. The stock was sold at an average price of $36.58, for a total value of $109,740.00. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Director C Robert Bunch sold 10,000 shares of the firm’s stock in a transaction that occurred on Monday, November 6th. The stock was sold at an average price of $36.00, for a total value of $360,000.00. Following the completion of the sale, the director now directly owns 3,860 shares in the company, valued at approximately $138,960. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 22,500 shares of company stock worth $806,230. 2.90% of the stock is currently owned by company insiders.

Hedge funds and other institutional investors have recently made changes to their positions in the stock. TVR Capital Management LP lifted its holdings in shares of Olin by 714.0% in the 2nd quarter. TVR Capital Management LP now owns 442,597 shares of the specialty chemicals company’s stock worth $13,401,000 after purchasing an additional 388,225 shares during the last quarter. BlueCrest Capital Management Ltd increased its position in Olin by 481.0% in the 2nd quarter. BlueCrest Capital Management Ltd now owns 680,828 shares of the specialty chemicals company’s stock valued at $20,615,000 after acquiring an additional 563,647 shares during the period. Quantum Capital Management increased its position in Olin by 22.2% in the 2nd quarter. Quantum Capital Management now owns 237,063 shares of the specialty chemicals company’s stock valued at $7,178,000 after acquiring an additional 43,013 shares during the period. California Public Employees Retirement System increased its position in Olin by 1.8% in the 2nd quarter. California Public Employees Retirement System now owns 316,337 shares of the specialty chemicals company’s stock valued at $9,579,000 after acquiring an additional 5,600 shares during the period. Finally, Flinton Capital Management LLC increased its position in Olin by 65.6% in the 2nd quarter. Flinton Capital Management LLC now owns 15,708 shares of the specialty chemicals company’s stock valued at $476,000 after acquiring an additional 6,222 shares during the period. 89.84% of the stock is currently owned by institutional investors and hedge funds.

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About Olin

Olin Corporation is a manufacturer and distributor of chemical products, and ammunition. The Company operates through three segments: Chlor Alkali Products and Vinyls, Epoxy and Winchester. The Chlor Alkali Products and Vinyls segment manufactures and sells chlorine and caustic soda, ethylene dichloride and vinyl chloride monomer, methyl chloride, methylene chloride, chloroform, carbon tetrachloride, perchloroethylene, trichloroethylene and vinylidene chloride, hydrochloric acid, hydrogen, bleach products and potassium hydroxide.

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