Olin (NYSE:OLN) Reaches New 12-Month Low – Should You Sell?

Olin Co. (NYSE:OLN)’s stock price reached a new 52-week low during mid-day trading on Tuesday . The stock traded as low as $39.44 and last traded at $39.50, with a volume of 1929679 shares traded. The stock had previously closed at $42.19.

Wall Street Analysts Forecast Growth

OLN has been the subject of several recent analyst reports. Wells Fargo & Company reduced their target price on Olin from $48.00 to $44.00 and set an “equal weight” rating for the company in a research report on Monday, October 28th. Royal Bank of Canada reduced their target price on Olin from $52.00 to $48.00 and set an “outperform” rating on the stock in a research note on Tuesday, October 29th. BMO Capital Markets dropped their target price on shares of Olin from $50.00 to $47.00 and set a “market perform” rating on the stock in a report on Tuesday, October 29th. KeyCorp lowered their price objective on Olin from $57.00 to $56.00 and set an “overweight” rating on the stock in a research report on Monday, October 28th. Finally, Piper Sandler cut their price target on Olin from $57.00 to $51.00 and set an “overweight” rating for the company in a research note on Wednesday, October 30th. Eight analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. Based on data from MarketBeat, Olin currently has an average rating of “Hold” and a consensus target price of $51.86.

Olin Price Performance

The company has a market capitalization of $4.56 billion, a price-to-earnings ratio of 31.51, a PEG ratio of 1.67 and a beta of 1.43. The stock’s 50-day simple moving average is $43.83 and its two-hundred day simple moving average is $45.39. The company has a quick ratio of 0.82, a current ratio of 1.40 and a debt-to-equity ratio of 1.32.

Olin Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, December 13th. Stockholders of record on Thursday, November 14th will be given a dividend of $0.20 per share. The ex-dividend date is Thursday, November 14th. This represents a $0.80 annualized dividend and a dividend yield of 2.05%. Olin’s payout ratio is 64.52%.

Insider Activity

In other news, VP R Nichole Sumner sold 10,500 shares of the firm’s stock in a transaction on Friday, November 8th. The stock was sold at an average price of $43.75, for a total transaction of $459,375.00. Following the completion of the transaction, the vice president now directly owns 24,056 shares in the company, valued at $1,052,450. This trade represents a 30.39 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Corporate insiders own 1.60% of the company’s stock.

Institutional Trading of Olin

A number of large investors have recently modified their holdings of OLN. Cetera Advisors LLC purchased a new position in shares of Olin in the 1st quarter valued at about $360,000. CWM LLC lifted its position in Olin by 277.8% in the second quarter. CWM LLC now owns 7,344 shares of the specialty chemicals company’s stock valued at $346,000 after purchasing an additional 5,400 shares during the period. SG Americas Securities LLC boosted its position in shares of Olin by 1,220.6% during the 2nd quarter. SG Americas Securities LLC now owns 50,050 shares of the specialty chemicals company’s stock worth $2,360,000 after purchasing an additional 46,260 shares in the last quarter. Wealth Enhancement Advisory Services LLC grew its holdings in shares of Olin by 20.5% in the 2nd quarter. Wealth Enhancement Advisory Services LLC now owns 8,466 shares of the specialty chemicals company’s stock worth $399,000 after acquiring an additional 1,440 shares during the period. Finally, Envestnet Portfolio Solutions Inc. acquired a new position in Olin during the second quarter worth about $211,000. Hedge funds and other 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.