Olin (NYSE:OLN) Sets New 12-Month Low – Time to Sell?

Olin Co. (NYSE:OLN) hit a new 52-week low during mid-day trading on Friday . The company traded as low as $29.20 and last traded at $29.13, with a volume of 443895 shares trading hands. The stock had previously closed at $32.14.

Wall Street Analysts Forecast Growth

Several equities analysts have recently weighed in on the stock. BMO Capital Markets lowered their price objective on shares of Olin from $50.00 to $47.00 and set a “market perform” rating on the stock in a research note on Tuesday, October 29th. Truist Financial assumed coverage on shares of Olin in a research note on Tuesday. They issued a “hold” rating and a $38.00 price objective on the stock. KeyCorp decreased their target price on shares of Olin from $56.00 to $50.00 and set an “overweight” rating on the stock in a research note on Friday, January 10th. Citigroup decreased their target price on shares of Olin from $48.00 to $45.00 and set a “buy” rating on the stock in a research note on Monday, December 16th. Finally, Wells Fargo & Company decreased their target price on shares of Olin from $48.00 to $44.00 and set an “equal weight” rating on the stock in a research note on Monday, October 28th. One analyst has rated the stock with a sell rating, eight have assigned a hold rating and seven have assigned a buy rating to the stock. According to data from MarketBeat, Olin has an average rating of “Hold” and a consensus price target of $46.50.

Olin Stock Performance

The business’s fifty day moving average is $35.99 and its two-hundred day moving average is $41.36. The company has a quick ratio of 0.82, a current ratio of 1.40 and a debt-to-equity ratio of 1.32. The stock has a market capitalization of $3.47 billion, a PE ratio of 23.96, a price-to-earnings-growth ratio of 0.77 and a beta of 1.48.

Olin (NYSE:OLN) last released its quarterly earnings data on Thursday, January 30th. The specialty chemicals company reported $0.09 earnings per share for the quarter, topping analysts’ consensus estimates of ($0.01) by $0.10. Olin had a net margin of 2.33% and a return on equity of 6.19%. As a group, research analysts anticipate that Olin Co. will post 0.95 EPS for the current fiscal year.

Olin announced that its Board of Directors has approved a share repurchase program on Thursday, December 12th that permits the company to buyback $2.00 billion in outstanding shares. This buyback authorization permits the specialty chemicals company to reacquire up to 45% of its shares through open market purchases. Shares buyback programs are generally a sign that the company’s board of directors believes its shares are undervalued.

Insider Transactions at Olin

In other news, VP R Nichole Sumner sold 10,500 shares of the stock in a transaction that occurred 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 transaction, the vice president now owns 24,056 shares in the company, valued at $1,052,450. This trade represents a 30.39 % decrease in their position. The sale 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 Inflows and Outflows

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Sei Investments Co. boosted its stake in shares of Olin by 5.6% in the 2nd quarter. Sei Investments Co. now owns 12,161 shares of the specialty chemicals company’s stock valued at $573,000 after buying an additional 640 shares during the period. Bank of Montreal Can lifted its stake in Olin by 219.9% during the second quarter. Bank of Montreal Can now owns 81,080 shares of the specialty chemicals company’s stock worth $3,867,000 after purchasing an additional 55,735 shares during the last quarter. Marshall Wace LLP purchased a new stake in Olin during the second quarter worth approximately $2,929,000. Squarepoint Ops LLC purchased a new stake in Olin during the second quarter worth approximately $2,918,000. Finally, Sanctuary Advisors LLC purchased a new stake in Olin during the second quarter worth approximately $2,486,000. 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.