Olin (NYSE:OLN) Sets New 1-Year Low - Should You Sell?

Olin Co. (NYSE:OLN - Get Free Report)'s share price reached a new 52-week low during trading on Monday . The company traded as low as $33.22 and last traded at $33.27, with a volume of 163481 shares traded. The stock had previously closed at $33.45.

Wall Street Analyst Weigh In

A number of analysts recently issued reports on OLN shares. BMO Capital Markets dropped their price objective on Olin from $50.00 to $47.00 and set a "market perform" rating on the stock in a report on Tuesday, October 29th. Piper Sandler cut their price target on shares of Olin from $57.00 to $51.00 and set an "overweight" rating for the company in a report on Wednesday, October 30th. KeyCorp decreased their price target on shares of Olin from $57.00 to $56.00 and set an "overweight" rating on the stock in a report on Monday, October 28th. Wells Fargo & Company dropped their price objective on Olin from $48.00 to $44.00 and set an "equal weight" rating for the company in a research note on Monday, October 28th. Finally, Royal Bank of Canada decreased 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. Eight equities research analysts have rated the stock with a hold rating and six have given a buy rating to the stock. According to MarketBeat, the stock currently has an average rating of "Hold" and an average price target of $50.14.

Olin Stock Down 1.0 %

The firm has a market capitalization of $3.86 billion, a PE ratio of 26.72, a PEG ratio of 1.51 and a beta of 1.43. The company has a current ratio of 1.40, a quick ratio of 0.82 and a debt-to-equity ratio of 1.32. The stock has a 50 day simple moving average of $41.52 and a 200 day simple moving average of $44.21.

Olin Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, December 13th. Investors of record on Thursday, November 14th were issued a dividend of $0.20 per share. The ex-dividend date was Thursday, November 14th. This represents a $0.80 dividend on an annualized basis and a yield of 2.41%. Olin's dividend payout ratio is currently 64.52%.

Olin announced that its Board of Directors has authorized a stock buyback plan on Thursday, December 12th that permits the company to buyback $2.00 billion in shares. This buyback authorization permits the specialty chemicals company to buy up to 45% of its shares through open market purchases. Shares buyback plans are generally a sign that the company's leadership believes its stock is undervalued.

Insiders Place Their Bets

In related news, VP R Nichole Sumner sold 10,500 shares of the company's 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 completion of the transaction, the vice president now owns 24,056 shares in the company, valued at $1,052,450. This represents a 30.39 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Insiders own 1.60% of the company's stock.

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in the stock. Segall Bryant & Hamill LLC purchased a new stake in shares of Olin in the 3rd quarter worth about $916,000. Charles Schwab Investment Management Inc. lifted its holdings in Olin by 2.9% in the third quarter. Charles Schwab Investment Management Inc. now owns 1,295,699 shares of the specialty chemicals company's stock worth $62,168,000 after buying an additional 37,043 shares during the period. Magnetar Financial LLC bought a new stake in Olin during the 2nd quarter valued at approximately $2,350,000. Canada Pension Plan Investment Board boosted its position in Olin by 846.7% during the 2nd quarter. Canada Pension Plan Investment Board now owns 14,200 shares of the specialty chemicals company's stock valued at $670,000 after acquiring an additional 12,700 shares in the last quarter. Finally, Barclays PLC grew its holdings in shares of Olin by 37.7% during the 3rd quarter. Barclays PLC now owns 125,913 shares of the specialty chemicals company's stock worth $6,042,000 after acquiring an additional 34,485 shares during the period. 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.