Olin (NYSE:OLN) Sets New 52-Week Low – Time to Sell?

Olin Co. (NYSE:OLN)’s stock price hit a new 52-week low on Thursday . The company traded as low as $22.33 and last traded at $22.50, with a volume of 115258 shares. The stock had previously closed at $24.70.

Analyst Ratings Changes

Several analysts have commented on OLN shares. UBS Group set a $28.00 price objective on shares of Olin in a research report on Thursday, February 27th. Piper Sandler lowered Olin from an “overweight” rating to a “neutral” rating and lowered their target price for the company from $41.00 to $33.00 in a research note on Thursday, February 13th. Bank of America raised Olin from a “neutral” rating to a “buy” rating and decreased their price objective for the stock from $48.00 to $40.00 in a report on Tuesday, January 14th. Wells Fargo & Company reduced their target price on shares of Olin from $31.00 to $25.00 and set an “equal weight” rating for the company in a research note on Tuesday. Finally, BMO Capital Markets reduced their price objective on shares of Olin from $44.00 to $34.00 and set a “market perform” rating for the company in a research note on Wednesday, February 5th. One investment analyst has rated the stock with a sell rating, eleven have given a hold rating and four have given a buy rating to the company. According to data from MarketBeat, Olin currently has a consensus rating of “Hold” and an average price target of $36.69.

Olin Stock Performance

The company has a debt-to-equity ratio of 1.32, a current ratio of 1.27 and a quick ratio of 0.77. The company has a market capitalization of $2.59 billion, a PE ratio of 24.97 and a beta of 1.61. The company has a 50 day moving average of $26.75 and a two-hundred day moving average of $35.76.

Olin (NYSE:OLN) last issued 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 return on equity of 5.10% and a net margin of 1.66%. As a group, equities research analysts predict that Olin Co. will post 1.38 earnings per share for the current year.

Olin Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, March 14th. Investors of record on Thursday, March 6th were given a dividend of $0.20 per share. This represents a $0.80 annualized dividend and a dividend yield of 3.56%. The ex-dividend date was Thursday, March 6th. Olin’s dividend payout ratio (DPR) is currently 88.89%.

Olin announced that its board has approved a share buyback program on Thursday, December 12th that allows the company to repurchase $2.00 billion in shares. This repurchase authorization allows the specialty chemicals company to buy up to 45% of its shares through open market purchases. Shares repurchase programs are generally an indication that the company’s management believes its shares are undervalued.

Insider Activity

In related news, CEO Kenneth Todd Lane bought 7,250 shares of the business’s stock in a transaction on Tuesday, February 4th. The stock was acquired at an average price of $28.06 per share, with a total value of $203,435.00. Following the transaction, the chief executive officer now owns 7,250 shares in the company, valued at approximately $203,435. This trade represents a ∞ increase in their position. The purchase was disclosed in a filing with the SEC, which is accessible through this link. Corporate insiders own 1.60% of the company’s stock.

Hedge Funds Weigh In On Olin

Several institutional investors have recently made changes to their positions in the business. Covestor Ltd raised its stake in Olin by 45.8% during the 4th quarter. Covestor Ltd now owns 1,334 shares of the specialty chemicals company’s stock valued at $45,000 after purchasing an additional 419 shares during the period. Spire Wealth Management lifted its holdings in shares of Olin by 246.8% in the fourth quarter. Spire Wealth Management now owns 1,616 shares of the specialty chemicals company’s stock worth $55,000 after buying an additional 1,150 shares in the last quarter. CoreFirst Bank & Trust purchased a new position in Olin during the fourth quarter valued at $66,000. Jones Financial Companies Lllp increased its holdings in Olin by 59.9% in the 4th quarter. Jones Financial Companies Lllp now owns 2,431 shares of the specialty chemicals company’s stock valued at $82,000 after acquiring an additional 911 shares during the last quarter. Finally, Blue Trust Inc. lifted its stake in Olin by 34.3% in the 4th quarter. Blue Trust Inc. now owns 2,887 shares of the specialty chemicals company’s stock worth $98,000 after purchasing an additional 738 shares in the last quarter. Institutional investors own 88.67% of the company’s stock.

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.