Olin (NYSE:OLN) Hits New 1-Year Low - Time to Sell?

Olin Co. (NYSE:OLN - Get Free Report) hit a new 52-week low on Thursday . The stock traded as low as $31.13 and last traded at $31.80, with a volume of 1552569 shares. The stock had previously closed at $32.13.

Analyst Upgrades and Downgrades

OLN has been the topic of several recent research reports. KeyCorp dropped their price objective on shares of Olin from $57.00 to $56.00 and set an "overweight" rating on the stock in a research note on Monday, October 28th. BMO Capital Markets cut their price target on shares of Olin from $50.00 to $47.00 and set a "market perform" rating for the company in a report on Tuesday, October 29th. Royal Bank of Canada reduced their price objective on shares of Olin from $52.00 to $48.00 and set an "outperform" rating for the company in a research report on Tuesday, October 29th. Wells Fargo & Company dropped their target price on Olin from $48.00 to $44.00 and set an "equal weight" rating on the stock in a research report on Monday, October 28th. Finally, Piper Sandler reduced their price target on Olin from $51.00 to $41.00 and set an "overweight" rating for the company in a report on Tuesday. Eight research analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of "Hold" and a consensus target price of $49.43.

Olin Price Performance

The company has a debt-to-equity ratio of 1.32, a quick ratio of 0.82 and a current ratio of 1.40. The stock has a market capitalization of $3.71 billion, a PE ratio of 25.65, a P/E/G ratio of 1.51 and a beta of 1.48. The company's fifty day simple moving average is $38.77 and its two-hundred day simple moving average is $42.83.

Olin Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, December 13th. Stockholders of record on Thursday, November 14th were issued a $0.20 dividend. The ex-dividend date of this dividend was Thursday, November 14th. This represents a $0.80 dividend on an annualized basis and a dividend yield of 2.52%. Olin's dividend payout ratio (DPR) is 64.52%.

Olin declared that its board has authorized a share repurchase plan on Thursday, December 12th that permits the company to repurchase $2.00 billion in shares. This repurchase authorization permits the specialty chemicals company to reacquire up to 45% of its shares through open market purchases. Shares repurchase plans are usually an indication that the company's board of directors believes its stock is undervalued.

Insider Buying and Selling

In related news, VP R Nichole Sumner sold 10,500 shares of the stock in a transaction dated 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 directly owns 24,056 shares in the company, valued at approximately $1,052,450. This represents a 30.39 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. 1.60% of the stock is owned by company insiders.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of OLN. 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 purchasing an additional 276 shares during the last quarter. Covestor Ltd grew its stake in shares of Olin by 357.5% during the 3rd quarter. Covestor Ltd now owns 915 shares of the specialty chemicals company's stock valued at $44,000 after buying an additional 715 shares during the period. Capital Performance Advisors LLP acquired a new stake in shares of Olin during the 3rd quarter worth $47,000. Mirae Asset Global Investments Co. Ltd. raised its position 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 worth $75,000 after buying an additional 318 shares during the period. Finally, UMB Bank n.a. boosted its holdings in Olin by 4,862.5% in the third quarter. UMB Bank n.a. now owns 1,588 shares of the specialty chemicals company's stock valued at $76,000 after acquiring an additional 1,556 shares during the last quarter. Institutional investors and hedge funds 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.