JPMorgan Chase & Co. Issues Pessimistic Forecast for Olin (NYSE:OLN) Stock Price

Olin (NYSE:OLN) had its price objective reduced by analysts at JPMorgan Chase & Co. from $26.00 to $25.00 in a research note issued on Thursday,Benzinga reports. The firm currently has a “neutral” rating on the specialty chemicals company’s stock. JPMorgan Chase & Co.‘s price objective points to a potential upside of 13.44% from the company’s current price.

OLN has been the topic of a number of other research reports. Mizuho lifted their price objective on Olin from $24.00 to $26.00 and gave the company a “neutral” rating in a report on Tuesday, March 31st. The Goldman Sachs Group increased their target price on Olin from $22.00 to $31.00 and gave the stock a “neutral” rating in a research note on Tuesday, May 12th. Citigroup raised their price target on Olin from $26.00 to $30.00 and gave the company a “neutral” rating in a report on Thursday, April 16th. Weiss Ratings restated a “sell (d)” rating on shares of Olin in a research note on Friday, May 22nd. Finally, Morgan Stanley increased their price objective on Olin from $18.00 to $22.00 and gave the stock an “underweight” rating in a research report on Monday, May 11th. One equities research analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating, ten have assigned a Hold rating and two have given a Sell rating to the stock. According to data from MarketBeat, the stock has an average rating of “Hold” and a consensus target price of $28.00.

Olin Stock Performance

Shares of OLN stock traded down $0.96 during mid-day trading on Thursday, hitting $22.04. The stock had a trading volume of 2,629,806 shares, compared to its average volume of 2,857,255. The firm has a market cap of $2.51 billion, a PE ratio of -19.70 and a beta of 1.17. The company’s 50-day simple moving average is $26.64 and its 200-day simple moving average is $24.72. The company has a debt-to-equity ratio of 1.73, a current ratio of 1.36 and a quick ratio of 0.82. Olin has a fifty-two week low of $18.08 and a fifty-two week high of $30.46.

Institutional Investors Weigh In On Olin

Institutional investors have recently modified their holdings of the company. Hotchkis & Wiley Capital Management LLC increased its stake in Olin by 5.5% in the 3rd quarter. Hotchkis & Wiley Capital Management LLC now owns 12,690,488 shares of the specialty chemicals company’s stock valued at $317,135,000 after purchasing an additional 661,730 shares in the last quarter. Dimensional Fund Advisors LP boosted its position in 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. State Street Corp grew its holdings in Olin by 1.1% in the second quarter. State Street Corp now owns 4,830,406 shares of the specialty chemicals company’s stock valued at $97,043,000 after purchasing an additional 50,309 shares during the last quarter. Pzena Investment Management LLC grew its holdings in Olin by 17.5% in the fourth quarter. Pzena Investment Management LLC now owns 4,507,913 shares of the specialty chemicals company’s stock valued at $93,900,000 after purchasing an additional 671,250 shares during the last quarter. Finally, Orbis Allan Gray Ltd increased its position in shares of Olin by 448.9% in the fourth quarter. Orbis Allan Gray Ltd now owns 3,804,561 shares of the specialty chemicals company’s stock valued at $79,249,000 after buying an additional 3,111,393 shares in the last quarter. Hedge funds and other institutional investors own 88.67% of the company’s stock.

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.