5 Best Materials Stocks To Invest In

4. Olin Corporation (NYSE:OLN)

Forward P/E ratio as of December 16: 8.14

Number of Hedge Fund Holders: 44

Based in Virginia, Olin Corporation (NYSE:OLN) is an American company that primarily manufactures chlorine, sodium hydroxide, and ammunition. Olin Corporation (NYSE:OLN) has three operating divisions: Epoxy, Chlor Alkali Products and Vinyls, and Winchester. The Chlor Alkali Products and Vinyls segment is the biggest business segment of the company accounting for 46% of 2021 revenue.

On November 01, 2022, Michael Leithead, an analyst at Barclays, increased his target price on Olin Corporation (NYSE:OLN) to $60. The analyst currently has an Equal Weight rating on the stock after the announcement of the company’s Q3 results.

At the end of Q3 2022, 44 hedge funds in Insider Monkey’s database were bullish on Olin Corporation (NYSE:OLN) at the end of the quarter. Sachem Head Capital remained the leading stakeholder of the company at the end of Q3 2022.