Olin (NYSE:OLN) Reaches New 1-Year Low – Here’s What Happened

Olin Co. (NYSE:OLN) shares hit a new 52-week low during trading on Monday . The company 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.

Analyst Ratings Changes

Several equities research analysts recently weighed in on the stock. UBS Group reduced their target price on shares of Olin from $35.00 to $34.00 and set a “neutral” rating for the company in a research note on Friday, January 31st. Barclays reissued an “equal weight” rating on shares of Olin in a report on Monday, February 3rd. KeyCorp lowered their price objective on Olin from $50.00 to $40.00 and set an “overweight” rating on the stock in a research report on Monday, February 3rd. Royal Bank of Canada cut Olin from an “outperform” rating to a “sector perform” rating and reduced their target price for the stock from $45.00 to $30.00 in a research report on Tuesday, February 4th. Finally, Truist Financial dropped their price objective on shares of Olin from $38.00 to $32.00 and set a “hold” rating for the company in a research note on Monday, February 3rd. One equities research analyst has rated the stock with a sell rating, ten have assigned a hold rating and five have given a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average price target of $40.44.

Olin Trading Down 0.8 %

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 business’s 50-day moving average price is $31.50 and its two-hundred day moving average price is $39.18. The company has a market capitalization of $3.11 billion, a P/E ratio of 29.57 and a beta of 1.45.

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

Olin Dividend Announcement

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

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

Insider Buying and Selling at Olin

In other Olin news, CEO Kenneth Todd Lane purchased 7,250 shares of the stock in a transaction on Tuesday, February 4th. The shares were purchased at an average cost 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 approximately $203,435. This represents a ∞ increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Company insiders own 1.60% of the company’s stock.

Institutional Trading of Olin

Several hedge funds and other institutional investors have recently bought and sold shares of OLN. Farther Finance Advisors LLC increased its stake in Olin by 88.2% during 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 period. Mirae Asset Global Investments Co. Ltd. boosted its stake in shares of Olin by 26.2% in 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 purchasing an additional 318 shares in the last quarter. Entropy Technologies LP grew its holdings in shares of Olin by 2.5% during the 3rd quarter. Entropy Technologies LP now owns 13,499 shares of the specialty chemicals company’s stock valued at $648,000 after purchasing an additional 332 shares during the last quarter. Nisa Investment Advisors LLC increased its position in Olin by 3.0% during the 3rd quarter. Nisa Investment Advisors LLC now owns 11,830 shares of the specialty chemicals company’s stock worth $568,000 after purchasing an additional 350 shares in the last quarter. Finally, Covestor Ltd lifted its stake in Olin by 45.8% in 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 last quarter. Institutional investors and hedge funds 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.