Olin (NYSE:OLN) Reaches New 1-Year Low - What's Next?

Olin Co. (NYSE:OLN - Get Free Report) hit a new 52-week low on Monday . The company traded as low as $24.42 and last traded at $24.19, with a volume of 967195 shares changing hands. The stock had previously closed at $25.39.

Analyst Ratings Changes

Several equities analysts have recently issued reports on OLN shares. Barclays reaffirmed an "equal weight" rating on shares of Olin in a research note on Monday, February 3rd. Piper Sandler lowered shares of Olin from an "overweight" rating to a "neutral" rating and decreased their price target for the stock from $41.00 to $33.00 in a research report on Thursday, February 13th. Royal Bank of Canada cut Olin from an "outperform" rating to a "sector perform" rating and dropped their price target for the company from $45.00 to $30.00 in a report on Tuesday, February 4th. Wells Fargo & Company reissued an "equal weight" rating on shares of Olin in a research note on Monday, February 3rd. Finally, BMO Capital Markets cut their target price on Olin from $44.00 to $34.00 and set a "market perform" rating on the stock in a research report on Wednesday, February 5th. One research analyst has rated the stock with a sell rating, eleven have issued a hold rating and four have issued a buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of "Hold" and an average price target of $38.38.

Olin Price Performance

The stock has a market capitalization of $2.82 billion, a PE ratio of 27.14 and a beta of 1.61. The company has a quick ratio of 0.77, a current ratio of 1.27 and a debt-to-equity ratio of 1.32. The stock's 50-day moving average is $29.93 and its 200 day moving average is $38.20.

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Olin (NYSE:OLN - Get Free Report) last posted its quarterly earnings results on Thursday, January 30th. The specialty chemicals company reported $0.09 EPS for the quarter, beating 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, equities analysts predict that Olin Co. will post 1.38 earnings per share for the current year.

Olin Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, March 14th. Shareholders of record on Thursday, March 6th will be given a $0.20 dividend. This represents a $0.80 annualized dividend and a yield of 3.28%. The ex-dividend date is Thursday, March 6th. Olin's payout ratio is currently 88.89%.

Olin announced that its Board of Directors has initiated 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 repurchase up to 45% of its stock through open market purchases. Stock buyback plans are often an indication that the company's board of directors believes its shares are undervalued.

Insider Activity at Olin

In other Olin news, CEO Kenneth Todd Lane bought 7,250 shares of Olin stock in a transaction on Tuesday, February 4th. The stock was purchased at an average cost of $28.06 per share, for a total transaction of $203,435.00. Following the completion of the purchase, the chief executive officer now directly owns 7,250 shares of the company's stock, valued at $203,435. The trade was a ∞ increase in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. 1.60% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of the business. Farther Finance Advisors LLC increased its position in Olin by 88.2% during the third quarter. Farther Finance Advisors LLC now owns 589 shares of the specialty chemicals company's stock worth $28,000 after buying an additional 276 shares during the last quarter. Entropy Technologies LP increased 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 acquiring an additional 332 shares during the last quarter. Covestor Ltd raised its stake in shares of 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 acquiring an additional 419 shares in the last quarter. Wilmington Savings Fund Society FSB lifted its holdings in Olin by 9.4% in the 4th quarter. Wilmington Savings Fund Society FSB now owns 5,833 shares of the specialty chemicals company's stock worth $197,000 after purchasing an additional 500 shares during the last quarter. Finally, Connable Office Inc. lifted its holdings in Olin by 9.3% in the 4th quarter. Connable Office Inc. now owns 6,207 shares of the specialty chemicals company's stock worth $210,000 after purchasing an additional 527 shares during the last quarter. Institutional investors own 88.67% of the company's stock.

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.