Olin (NYSE:OLN) Hits New 1-Year Low – Here’s Why

Olin Co. (NYSE:OLN) reached a new 52-week low on Monday . The stock traded as low as $26.28 and last traded at $26.60, with a volume of 34409 shares trading hands. The stock had previously closed at $26.86.

Wall Street Analysts Forecast Growth

A number of analysts recently commented on the company. BMO Capital Markets reduced their price objective on Olin from $44.00 to $34.00 and set a “market perform” rating for the company in a research report on Wednesday, February 5th. Truist Financial dropped their price target on shares of Olin from $38.00 to $32.00 and set a “hold” rating on the stock in a research note on Monday, February 3rd. Barclays restated an “equal weight” rating on shares of Olin in a research note on Monday, February 3rd. Bank of America raised Olin from a “neutral” rating to a “buy” rating and cut their price target for the company from $48.00 to $40.00 in a report on Tuesday, January 14th. Finally, UBS Group decreased their price objective on Olin from $35.00 to $34.00 and set a “neutral” rating on the stock in a research note on Friday, January 31st. One research analyst has rated the stock with a sell rating, ten have given a hold rating and five have assigned a buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and an average price target of $40.44.

Olin Stock Up 0.4 %

The business has a 50-day moving average price of $31.33 and a 200 day moving average price of $39.07. The stock has a market capitalization of $3.08 billion, a P/E ratio of 29.61 and a beta of 1.45. The company has a current ratio of 1.27, a quick ratio of 0.77 and a debt-to-equity ratio of 1.32.

Olin (NYSE:OLN) last posted its quarterly earnings results on Thursday, January 30th. The specialty chemicals company reported $0.09 EPS for the quarter, topping analysts’ consensus estimates of ($0.01) by $0.10. Olin had a net margin of 1.66% and a return on equity of 5.10%. On average, equities analysts expect that Olin Co. will post 1.38 EPS for the current fiscal year.

Olin Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, March 14th. Investors of record on Thursday, March 6th will be given a dividend of $0.20 per share. The ex-dividend date is Thursday, March 6th. This represents a $0.80 dividend on an annualized basis and a yield of 3.00%. Olin’s payout ratio is 88.89%.

Olin announced that its board has approved a share repurchase plan on Thursday, December 12th that allows the company to repurchase $2.00 billion in shares. This repurchase authorization allows the specialty chemicals company to purchase up to 45% of its stock through open market purchases. Stock repurchase plans are typically an indication that the company’s board believes its stock is undervalued.

Insiders Place Their Bets

In related news, CEO Kenneth Todd Lane purchased 7,250 shares of the business’s stock in a transaction on Tuesday, February 4th. The shares were acquired at an average price of $28.06 per share, for a total transaction of $203,435.00. Following the purchase, the chief executive officer now owns 7,250 shares of the company’s stock, valued at $203,435. This trade represents a ∞ increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Corporate insiders own 1.80% of the company’s stock.

Institutional Investors Weigh In On Olin

A number of large investors have recently made changes to their positions in the stock. Farther Finance Advisors LLC raised its stake in Olin by 88.2% in the 3rd quarter. Farther Finance Advisors LLC now owns 589 shares of the specialty chemicals company’s stock worth $28,000 after acquiring an additional 276 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. lifted its stake in Olin by 26.2% during the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 1,534 shares of the specialty chemicals company’s stock valued at $75,000 after acquiring an additional 318 shares during the period. Entropy Technologies LP boosted its holdings in shares of Olin by 2.5% in the 3rd quarter. Entropy Technologies LP now owns 13,499 shares of the specialty chemicals company’s stock valued at $648,000 after acquiring an additional 332 shares during the last quarter. Nisa Investment Advisors LLC increased its stake in shares of Olin by 3.0% in the third quarter. Nisa Investment Advisors LLC now owns 11,830 shares of the specialty chemicals company’s stock worth $568,000 after acquiring an additional 350 shares during the period. Finally, Covestor Ltd raised its holdings in shares of Olin by 45.8% during the fourth quarter. Covestor Ltd now owns 1,334 shares of the specialty chemicals company’s stock worth $45,000 after purchasing an additional 419 shares during the last quarter. 88.67% of the stock is owned by hedge funds and other institutional investors.

Olin Company Profile

Olin Corporation manufactures and distributes chemical products in the United States, Europe, Asia Pacific, Latin America, and Canada. It operates through three segments: Chlor Alkali Products and Vinyls; Epoxy; and Winchester. The Chlor Alkali Products and Vinyls segment offers chlorine and caustic soda, ethylene dichloride and vinyl chloride monomers, methyl chloride, methylene chloride, chloroform, carbon tetrachloride, perchloroethylene, hydrochloric acid, hydrogen, bleach products, potassium hydroxide, and chlorinated organics intermediates and solvents.