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

Olin Co. (NYSE:OLN - Get Free Report)'s share price reached a new 52-week low on Friday . The company traded as low as $32.71 and last traded at $32.78, with a volume of 201789 shares trading hands. The stock had previously closed at $33.52.

Analyst Ratings Changes

Several brokerages recently weighed in on OLN. Piper Sandler decreased their price objective on Olin from $57.00 to $51.00 and set an "overweight" rating for the company in a report on Wednesday, October 30th. KeyCorp dropped their price objective on Olin from $57.00 to $56.00 and set an "overweight" rating for the company in a research note on Monday, October 28th. Barclays cut their price target on shares of Olin from $45.00 to $43.00 and set an "equal weight" rating for the company in a research note on Friday, December 13th. BMO Capital Markets decreased 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. Finally, Wells Fargo & Company lowered their price target on shares of Olin from $48.00 to $44.00 and set an "equal weight" rating for the company in a research note on Monday, October 28th. Eight research analysts have rated the stock with a hold rating and six have issued a buy rating to the company's stock. According to MarketBeat.com, the stock currently has a consensus rating of "Hold" and an average price target of $50.14.

Olin Price Performance

The company has a debt-to-equity ratio of 1.32, a current ratio of 1.40 and a quick ratio of 0.82. The company has a market cap of $3.77 billion, a PE ratio of 26.10, a price-to-earnings-growth ratio of 1.51 and a beta of 1.43. The business has a 50 day moving average of $39.31 and a 200 day moving average of $43.23.

Olin Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, December 13th. Investors of record on Thursday, November 14th were paid a $0.20 dividend. This represents a $0.80 dividend on an annualized basis and a yield of 2.47%. The ex-dividend date of this dividend was Thursday, November 14th. Olin's payout ratio is currently 64.52%.

Olin declared that its board has authorized 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 buy up to 45% of its stock through open market purchases. Stock buyback programs are often a sign that the company's board believes its shares are undervalued.

Insider Transactions at Olin

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

Institutional Inflows and Outflows

A number of large investors have recently bought and sold shares of the business. Farther Finance Advisors LLC lifted its holdings in shares of Olin by 88.2% during the third quarter. Farther Finance Advisors LLC now owns 589 shares of the specialty chemicals company's stock valued at $28,000 after purchasing an additional 276 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. increased its position in Olin by 26.2% during 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 buying an additional 318 shares in the last quarter. Entropy Technologies LP raised its stake in Olin by 2.5% during the third quarter. Entropy Technologies LP now owns 13,499 shares of the specialty chemicals company's stock valued at $648,000 after buying an additional 332 shares during the last quarter. Nisa Investment Advisors LLC boosted its holdings in Olin by 3.0% in the third quarter. Nisa Investment Advisors LLC now owns 11,830 shares of the specialty chemicals company's stock worth $568,000 after acquiring an additional 350 shares in the last quarter. Finally, Captrust Financial Advisors grew its stake in shares of Olin by 14.4% in the third quarter. Captrust Financial Advisors now owns 4,998 shares of the specialty chemicals company's stock worth $240,000 after acquiring an additional 630 shares during the last quarter. 88.67% of the stock is owned by hedge funds and other institutional investors.

About Olin

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.